Protect Your Finances By Avoiding These Errors

While it’s true that America is now in an economic recovery and citizens are getting back on their feet, you still cannot let your guard down and commit mistakes that can ruin your financial stability.

Photo credit: www.toplisttips.com

Be Financially Healthy with These 7 Money Habits

Being financially healthy usually means having sufficient income to cover for daily expenses for the rest of your life without having to make loans or be in debt in order to get by every day.

There are people who achieve this by developing useful money habits which can be seen through saving and investing over many years. Others become successful enough that their investment can generate income without daily supervision.

There are many different approaches to becoming financially healthy and can be taken by average Americans.

Photo credit: financiallyeliteblog.com

Why Can't Couples Retire At The Same Time?

Many working couples talk about retiring at the same time and sail off into the sunset together. However, this “dream” doesn’t apply to everyone, especially working couples.

There are companies who claim they have products and services which can make this dream a reality, but not everyone can afford it.

Working couples should make time to talk about retirement and look into the positive and negative effects of retiring at the same time.

Photo credit: US Money News

Successful Retirees have these 7 Habits

Some people seem to have better money management habits than others and only a few are able to take their effective financial strategies to retirement.

Unfortunately, most of us were not told that: starting to save for retirement from our first job will be our first stepping stone towards financial freedom.

Photo credit: money.usnews.com

Busted: Five Retirement Myths

Many boomers nowadays are starting to have retirement concerns, especially because many of them are nearing retirement and they are not confident that they can be financially independent once they retire. The biggest fear they have is outliving their savings due to the risk of dealing with a health and long-term care event which can be financially devastating.

The sad part is: many are frightened of retirement because they were not able to prepare for it sooner or at all. While some people were able to put away a significant amount, they forgot about inflation. What they estimated would last them for twenty years may only last for ten or less.

Photo credit: retirementplanningmadeeasy.com

Five Practical Ways For Boomers to Stay on Budget

Creating a budget is the first step to proper money management, but what’s more crucial is being able to stick to it. Baby boomer are trying to save for retirement and future long-term care expenses, however, their efforts seems useless as they are still falling short of their budget. If you're struggling to stay on budget and still finding yourself financially short towards the end of each month, here are five tips to help you.

Photo credit: www.babyboomergold.org

Boomers Delving Into Possible Future Issues, Are They Prepared For The Unthinkable?

The realities of baby boomers entering into retirement is no longer a simple matter, whether you are a few months, years or decades away from retirement, we should expect the best and worse case scenarios. Baby boomers should expect longer but not necessarily healthy lives, more expensive cost of living. market uncertainty, health and long-term care cost  and inflation.

Photo credit: hcmmlaw.com

Boomers Retirement Years - Happiness Beyond Financial Security

Times were, when seniors have the feeling of excitement brought about by retirement, but in present times, retirement seems to cause fear, anxiety and worries among baby boomers. Inflation, uncertain market condition, health and long-term care cost are just some of the few things that concerns boomers who are already in their retirement. People in their retirement only finds happiness and satisfaction when they have financial security. So, is retirement all about money?

Photo credit: www.longtermcareprimer.com

Baby Boomers - Where Are You Going To Spend Your Retirement?

In one of my previous blogs, I have discussed why boomers should not rely on "Best Places to Retire List" which is usually available online, you just need to type it on search engines and you'll get hundreds of suggestion even from famous online magazines and website. But if you are already in the process of choosing the best spots for your retirement, how are you going to determine the best place for you?

Photo credit: www.longtermcareprimer.com

Protecting Adult Children From the Impact of Baby Boomer's Aging

With more than 70 million baby boomers, the aging population is expected to have a dramatic impact on the country's economy as they are expected to live longer and a vast majority of them are unprepared for retirement, these large number of seniors will soon be taking money from retirement account such as social security and IRA. As they make up a large portion of the population, moving into old age would seem to be another challenge not only for the US economy, but for their adult children as well.

Photo credit: nextavenue.org

Boomer's FitnessTrends - A Healthy Way to Grow Old

The largest generation in the US has changed the health, retirement and long-term care industry of the country, over the last years, boomers have been frantically freaking out and panicking over issues about the need to go over their financial plans and prepare for retirement's biggest risk - health and long-term care. The main issue surrounding these trends is the increasing cost of health and long-term care services at a very fast rate. They were too busy building funds for these risk and almost forgot that they could do something to prevent some health and long-term care condition.

Photo credit: BoomerCafe

Long-Term Care Insurance: A Difficult Decision for Baby Boomers

Majority of baby boomers may already have estate, financial, retirement plans, wills and trust in place. However, if these were place years ago, this is a good time to review and reassess those plans to see if the goals and priorities are still your desires and wishes. Your wealth might have accumulated or it might have been reduced and your health is not the same five years ago. You might consider making some tough decision and include long-term care in you plan.

Photo credit: www.longtermcareprimer.com

Baby Boomer's Decision Making - A Reflection on Financial Abuse

Baby boomers make up a large part of the US population, and as they enter their retirement years, experts stated that they need to make important and wise decisions about finances, health and long-term care. This is the stage in their life where they have be in control of their decisions, however, as people age, making smart ad wise decisions over critical issues can be an enormous challenge especially when you are dealing with chronic illness that may affect your decision making ability.

In an article written by  Jodi Mohrmann, he discussed how elderly adults can be vulnerable to abuse when they are suffering from cognitive impairment.  Normally, boomers faced difficulties adapting to changes as they enter retirement which may include adapting to a new and different routine, missing their colleagues and daily tasks and dealing with expenses that are more than what they had anticipated. But these can be more challenging if you are suffering from memory loss like dementia.

Photo credit: http://www.news4jax.com/

Looming US Deficit, Are Baby Boomers to Blame?

Baby boomers are known to have spend their younger years living in prosperity, and enjoyed these lucrative years until the great recession occurs. Now that all of them are in their retirement years, the US government is providing them with health, long-term care and retirement benefits, which eats up most of the national, federal and state budget.

The country is living with more debt, and federal debt is currently in the highest level. The country's debt was not expected to increase sharply, until recently, when boomers start retiring and rely on their social security and government funded health and long-term care programs. Medicare and medicaid are already strained programs and are considered bankrupt. With all these facts, are the baby boomers to be blame for the country's huge financial deficit? This is the same arguments posted in USNews, and suggested that boomers should be responsible in fixing the debt.

Photo credit: www.cbsnews.com

Aging In The Right Place - Redefining Baby Boomer's Choices for Living

Survey showed how baby boomers are changing retirement, but when it comes to choosing their living arrangements, it seems that majority of boomers plan to stay put and "age in place". The idea of aging in place is to live independently and conveniently in the comfort of your home and with the presence of your loved ones and family members.

Photo credit: http://www.longtermcareprimer.com/

Retirement Reality for Baby Boomers

The baby boomers generation is facing more challenge when it comes to retirement, if you are going to check updates and news about the baby boomers, you will find out that most of the issues concerning them have something to do with retirement and financial planning. This is because all boomers are in their retirement years now and majority of them are still struggling to build a nest egg.

Photo credit: www.fool.com

Long-Term Care: Believe It Will Happen To You

For most baby boomers, they want to remain independent and stay in the comfort of their home as they enter their retirement years, it is an important factor for them for aging in place. However, this may no longer be an option once a catastrophic event like a health or long-term care crisis arises.

For those who are still healthy and well-abled, they usually don't think that crisis may happen, but a sudden fall. accident or illness can change everything. As baby boomers age, they become frail and susceptible to injuries, the perception that things like these are never going to happen suddenly becomes reality. 

Photo credit: nvseniorguide.com

Baby Boomer's Long-Term Care Expenses, A Personal Responsibility

When the CLASS Act was repealed, medicaid spending is expected to increase dramatically. A lot of baby boomers were looking forward to the said program, however, legislators and executive body think that the program may not be feasible and will be facing enormous budget funding. Medicaid is the single largest payer of long-term care expenses, and with millions of boomers not having any plan on how to cover this expense, they resort to relying on the program and go beyond the point of engaging in an activity called medicaid planning just to be eligible for the program.

Photo credit: lynnlawrencepa.com

Baby Boomer's Health and Finances: Which One Must Be In Good Shape?

Most often than not, the main concern being discussed about baby boomers is finance, a lot of boomers are worried about their financial strength more than anything else. It also plays a big role in their retirement, estate and most especially financial planning.

Photo credit: www.longtermcareprimer.com

However, a survey done by Allianz proved this wrong, the result was surprising! More baby boomers are concerned about fitness and wellness, and finances only comes in second. However, this trend among boomers seems to be a little bit confusing in terms of professional help. Although majority of older adults may want to keep themselves healthier, only a few considered getting professional help to guide them in their health and fitness campaign. And a lot of them are willing to seek or consult an expert in terms of financial planning.

Baby Boomer's Notion of Aging, Retirement and Long-Term Care

Majority of baby boomers are seriously weighing retirement now, with more things to put into consideration and quite a number of expenses to anticipate. They are indeed setting a new trend and are redefining retirement based on current circumstances, instead of dreaming about life's luxuries and leisure, they are taking retirement one step at a time.

Photo credit: www.usatoday.com