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Proper Retirement Planning Avoids Underestimating Care Costs
Takeaways It can be easy to underestimate the amount of money we will need for health care and long-term care after we retire. Not knowing exactly what care we will need and with the costs of all types of care rising, it is nearly impossible to know exactly how much to save and invest for retirement. Knowing this, one would think people would err on the side of caution and set aside more rather than less. However, the opposite appears to be true. According to a 2024 study conducted by Jackson National Life Insurance Company and the Center for Retirement Research at
Home Safety for Aging in Place: A Guide for Older Adults
Takeaways Aging in place involves making modifications to ensure safety, comfort, and accessibility for older adults. Home modifications, measures for preventing falls, and fire and carbon monoxide safety are crucial for creating a safer environment. Maintaining social and mental well-being is also essential for older adults’ safety and quality of life. Aging in place, the ability to live safely and independently in one’s home as long as possible, is a goal for many seniors. However, as we grow older, our homes may require modifications to ensure safety, comfort, and accessibility. Whether you are planning to live in your
Support for Family Caregiving Gains Momentum
Caregiving has become an essential public health issue as the U.S. population ages and chronic disease prevalence increases. Family caregivers provide indispensable support that allows individuals to remain in their homes and communities, but their contributions often go unrecognized — and unpaid. With family caregiving on the rise, there is growing recognition among voters, policymakers, and employers about the significant challenges posed by caregiving and the need for solutions that address the needs of caregivers, who often juggle careers, children, and aging parents at great personal cost. Two recently introduced bills would make it easier for family caregivers
The Social Security Fairness Act: Will It Affect You?
Takeaways President Biden has signed legislation that will boost monthly benefits for nearly 3 million people in 26 states who rely on Social Security. The Social Security Fairness Act abolishes two decades-old rules that have reduced or altogether axed benefits for some retirees. The Social Security Fairness Act addresses long-standing issues with some provisions of the Social Security Act, primarily the Government Pension Offset (GPO) provision and the Windfall Elimination Provision (WEP). These provisions, which were originally intended to prevent double-dipping into Social Security benefits, have been criticized for disproportionately reducing or eliminating benefits for public sector employees, including teachers,
What Makes a ‘Good’ Nursing Home? 10 Points to Consider
If you are looking for a nursing home for yourself or a loved one, you want to choose a good facility. But what makes a nursing home good? Though good can be hard to define, some qualities are key to take into account. A nursing home could be considered good if it is clean, well-staffed, offers nutritious meals, and provides high-quality care for its residents. Other practical factors, such as location and cost, are as crucial to weigh when determining if a particular facility is a suitable choice. Finding the right long-term care facility for yourself or a loved one
Deducting Long-Term Care Insurance Premiums in 2025
The population of older adults in the United States has been growing steadily in recent years. According to the U.S. Census, the number of Americans who are age 65 and older grew more than 9 percent in just three years, from 2020 to 2023. By 2050, estimates suggest that the country will have more than 82 million seniors. With this shift in demographics comes a rise in the need for long-term care, all while the costs for this type of care have been escalating. To help alleviate these costs, some people are relying on long-term care insurance. You may assume that you won’t