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.

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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.

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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.

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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.

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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.

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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.

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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.

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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?

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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?

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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. 

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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.

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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.

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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.

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Can't Determine Where to Retire? Don't Base Your Decision on "Best Places To Retire" List

As a number of baby boomers hit their retirement age, they have been focusing on savings, finances, health and long-term care cost and other issues facing retirement, with all these crisis associated with retirement, do they ever have the time to think about moving and looking for a perfect place to spend their golden years?

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Aging in the Workforce: Baby Boomer's Retirement Crisis

When it comes to baby boomers, retirement is a major issue, there are things that worried and terrified them, thus, a lot of boomers are planning to stay in the work force to build a bigger nest egg, and wants an extended time to accumulate more money.

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Heart Disease - A long-Term Care Illness Posing A threat to Baby Boomer Women

In our previous blog, we joined millions of Americans in observing World Cancer Day to help spread awareness, prevention and treatment for the disease, today, we may see a lot of social media post about women wearing red dress with the hashtag #GoRedForWomen. Ever wondered why those women are all wearing red? Because its National Wear Red Day, which symbolizes the observation of heart disease awareness.

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Planning for Retirement: Security for Baby Booomers

Working in the golden years have proved that baby boomer's attitude towards retirement has dramatically changed. A lot of people who are 55 years old and above are still active in the workforce and some are still looking for career opportunity despite their old age.

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Cancer Crisis: A Burden for Aging Baby Boomers

Today is World Cancer Day, a lot of people are joining hands to help spread awareness about this chronic illness and encourage the prevention, detection and cure to the disease. Considered as the second  most common or leading cause of death, this disease may require a patient to be on long-term care services, around 8% of claimants are affected with this illness. Cancer can affect people from all walks of life, regardless if you're wealthy or poor, young or old, however, the most significant risk factor of cancer is age. This being said, seniors and boomers have higher risk of developing the disease.

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Baby Boomer's Health is Wealth

"Health is wealth", this is an old saying but holds true especially for aging baby boomers. The burden of health and long-term care cost are being shouldered by majority of our aging population since they are prone to be care recipients due to the effects brought about by aging.

Long-Term Care Insurance: Does Baby Boomer Need It?

You may have read, seen or heard that for people aged 65 and above, the odds of needing long-term care services at some point in their life is 70%, so how come baby boomers are ignoring this prospect? Boomers have seen their parents struggle with long-term care, they are aware of the emotional, mental and physical devastation people have to deal with as a result of not taking necessary actions to plan properly for future health and long-term care needs.

Aging the Boomer Way: Who Will Take Care of Childless Seniors?

Statistics revealed that 1 in every 5 baby boomers is childless, that is about 15 million boomers who never had children. And since boomers are mostly in their retirement years, there is a looming crisis on who is going to take care of them? We are all aware that the foundation of caregiving is family, majority of caregivers are spouses and children, for spouses who are childless, women are expected to provide care, if so, who will take care of her when she eventually needed care? And how about single boomers who are likely to live alone in their old age?

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Baby Boomers Retirement Planning Guide - Don't be Ill-Prepared

Once you hit the age of 50, your goals change, you are more serious and focused on retirement security, savings goals and financial future. Boomers are now more confident, this is evidenced by the research result which showed that there is a great increase in the percentage of boomers who are certain when they would retire.

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Boomers Live Better When Cared at Home

The process of aging as they say, is inevitable, it is something beyond our control, therefore, we must learn to accept and make the most out of it. Boomers are very much aware of this fact, and with aging comes frailty and immobility. Although this condition does not cut across all boomers and aging individuals but most of them experience it as they age.

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Boomers Retirement Plan - Going Against the Trend

When you say "baby boomers" most people think of a senior citizen in their retirement years, this is somehow true because the oldest baby boomers are already retired and the youngest of them is in already in their golden years.

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Perhaps, people perceived retirement as a time to travel, play golf, relax and enjoy leisure time without having to worry about deadlines and office stress. However, current trends showed that not all boomers are traveling nor thinking about spending time playing golf. As they approach retirement, boomers are making decisions based on their financial capability, basically because they were the ones who are most affected by the great recession.

They are trying to pursue their financial goals but is more focused on home ownership and retirement savings. Foxbusiness discuss the bucking past trends of how boomers stay put in retirement. The boomers retirement plan may be consistent for years and we are yet to see how they are going to get along with these plans

Baby Boomer's Early Retirement: Health, Finances and Long-Term Care Issues May Interfere

Based from different surveys and studies, baby boomers are more worried about the affordability of health services than their own health. Health and long-term care issues are threat to their financial strength, thus, a threat to their retirement savings and plans. It will impact not only their finances but also their relation to their family.

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Boomer Health: How Sitting Can be Hazardous To Your Health

Perhaps the best gift you can give to an aging loved one is health, health is indeed wealth and no amount of money can guarantee that you will be healthy for the rest of your days. It is your personal responsibility to stay fit and healthy.

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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Boomer Options for Long-Term Care, Which One Are You?

As we grow older, we want to maintain our independence and quality of life even in the event that we are having a hard time performing the activities of daily living. For most baby boomers, they want to stay in the comfort of their homes, with the presence of their loved ones.

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Things Boomers Need To Know About Long Term Care Insurance

What’s your long term care plan? Many baby boomers are thrilled to plan for their retirement. Some already have exciting plans about the places they want to visit or things they want to accomplish. However, many people forget to plan for long term care, but not Mary Bruels’ mother. 

According to Jackie Callaway of acbcactionnews.com, 20 years ago, Mary Bruels’ mother made a life changing decision. At that point in time, Mary's mother, Marjorie, recognized that she and her husband are not getting any younger. She realized that their savings might not be enough to pay for long term care expenses not covered by Medicare.

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