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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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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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.

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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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 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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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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Baby Boomers Overlooked True Cost of Long-Term Care

Planning for long term care is anticipating and preparing for your future care needs. More than half of people aging 65 and older will require long term care. Meanwhile, those who are younger are not impervious to this need. In fact 40% of those aging 18-64 have a possibility of needing care even if they are not yet in their elder years. Planning is essential but before you get started, you must first have the answer to the question, “What is long term care?”

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Long term care pertains to the services that a person needs in order to retain the quality of his daily living. A huge part of long term care deals with providing assistance in basic tasks such as bathing, eating or getting dressed. These are referred to as Activities of Daily Living. Long term care mostly deals with the custodial needs of a person.