Wednesday, January 14, 2015

Baby Boomer's New Year's Resolution: Health, Finance and Emergency Fund

Another year has passed and another year will be added to the baby boomer's age. Aging baby boomers may find it elusive to make a list of resolution that will not be forgotten nor ignored just like any other new year's resolution. They are now more focus on doing and creating things that will benefit them as they age.

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Health and long-term care concerns are always the focused for most boomers, and this year, it is no longer surprising that health has become top focus for most older Americans, even survey showed that 61 of older people consider health and fitness as a top selection. This is due to the increasing cost of health and long-term care services, so aside from finances, Americans are now more focused on keeping and maintaining a healthy body in order to prevent a health or long-term care event devastate their retirement years and fund.

As we review and analyze the past year, boomers are now decided to protect their retirement savings and nest egg by keeping a healthy lifestyle to avoid any hospitalization that would cost them thousands of dollars.

According to longtermcareprimer, if being financially and physically fit is your goal for this year, having an emergency fund should also be in your list of new year's resolution. Getting sick or ill is unpredictable, no matter how healthy you are, there may be other trees in the forest and an accident my cause an injury which would also require you to spend a sum of money.

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