Archive for May, 2011
Why You Need Long Term Care Insurance
By Larry Lane for www.InvestorZoo.com
Thanks to new medical breakthroughs and new drugs, we as a population are living longer and more active lives. In 1900, the life expectancy of the average American was 47. Today, there are more survivors of cancers and diseases that were previously considered incurable. Depending on when you were born, you can expect to live to 76 to 91 years old.
However, all this technology comes with a dual edged sword. The longer you live, the longer you’re going to have to stretch out your retirement dollars. According to Genworth Financial, the cost of long term care can vary from ,000 per year in Louisiana to ,000 in California. Remember this is in 2009 dollars. Unless you’ve had your head in the sand for the last 20 years, you know about the skyrocketing costs of healthcare. The cost of long term care needs to be factored in as one of your retirement expenses. In general, the pundits will say you need 75-80% of your current expenses in retirement. Long term care insurance may be the wild card in your retirement plans. If you are 5, 10 or 20 years out before retirement, no one knows what the cost will be for long term care insurance.
Tags: edged sword, federal interagency forum, genworth financial, government printing office, kaiser foundation, new drugs, new medical breakthroughs, retirement dollars, retirement expenses, term care insuranceRelated posts
Buying Your First Car: What to Look for
Your first car is a landmark purchase in your life. It’s the vehicle that will finally grant you freedom that public transport cannot, and it’s one possession that will demonstrate how far you’ve come in terms of earning and saving. Hopefully, it’s also a purchase that will last you a long time – so you’ll want to make sure you shop carefully and ask a lot of questions in your quest for a great first set of wheels.
Tags: bmw convertible, car costs, car mechanic, first car, landmark purchase, manufacturer websites, mechanic friend, problematic aspects, second hand car, set of wheels
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