Nearly 60% of Americans over the age of 50 are worried about the costs of long-term care, while only 16% feel prepared financially, according to a recent study by Sun Life Financial and conducted by Kelton Research.æ Bob Klein, Sun Life’s vice president of Strategic Planning and Linked Benefits says...
Tag: retirement planning
Retirees Not Realistic in Planning for Possibility of Long-Term Care
Getty Images, Rosemary Calver In a recent survey from the Society of Actuaries respondents were asked about the changing nature of healthcare delivery and the ability to pay for long-term care. Though 93% said that pursuing a healthy lifestyle is their primary risk-management strategy, the report suggests that this is...
Boomers Reluctant to Curtail Lifestyle in Retirement
According to U.S. News Money, workers who havenäó»t saved enough to retire have three choices: work longer, save more, or reduce their standard of living in retirement.æ When workers were given these three choices, most said they would delay retirement and continue to save rather than cut costs, according to...
Plan for the Unexpected – Have a Flexible Retirement Plan
The Met Life Mature Market Institute and the Scripps Gerontology Center recently published a report, Best Case Strategies for a Flexible Retirement. This study examined retirement-related thinking, experiences, and behaviors in the face of the unexpected, combining two methods: 50 in-depth interviews with individuals and couples (approximately half recently retired...
NFL to Pay LTC Premiums
The NFL has agreed to pay long-term care insurance premiums for retired players, according to a league announcement. The agreement was signed with Transamerica Life Insurance Company and will cover the premium for those who are eligible retirees. The NFL claims that an average of 120 former players die each...
People Aware of LTC Costs but Have No Real Plan to Finance
The Lincoln Financial Life Stages Survey: Long- term care, a survey of 1,002 Americans, was recently released. Most respondents were aware of forecasts predicting a dramatic rise in the number of Americans needing care. Few admitted to being truly prepared. People also understand that costs of care will seriously affect...
Where You Live May Impact How You Retire
Ameriprise Financial’s New Retirement Mindscape¬ 2010 City Pulse Index examined the 30 largest U.S. metropolitan areas to determine where consumers are the most prepared for and confident about retirement. Minneapolis-St. Paul claimed the top spot on the retirement readiness index, followed by Raleigh-Durham (#2) and Nashville (#3); Los Angeles (#30)...