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Financial advisors long told people that a million dollars would be enough to fund their retirement, but that is not always the case. There are some individuals who will require far more support and incur far more expenses during their golden years than others. Living...
Despite thoughtful retirement planning, many people struggle to pay for long-term care in their later years. Individuals may have generous pensions, social security, and retirement funds, but find that the cost of home care or nursing home care can quickly exhaust...
As you and your spouse age, or your parents begin to age, you should consider that there may be a need for a nursing home. Finding a quality facility can take some time and you may want to begin looking early. Before you start searching for a nursing home, you should...
Advance directives are legal documents where you designate who should handle your financial and medical affairs and outline your specific wishes with respect thereto should you become incapacitated and unable to manage such affairs in the future. Although you may feel...
Without warning, serious illness or injury may strike, leaving people unable to make medical decisions for themselves. Who will speak up for them when they cannot give voice to their wishes? As part of their estate plans, many people create advance care directives,...
When it comes to getting older, there are a lot of things for which to prepare. One is planning what will happen if you are unable to make medical decisions for yourself, and you can do this with an advance directive. There are different parts to an advance directive,...
As you get closer to the age of retirement, you may look more into programs like Medicaid. You know the cost of aging may spiral out of control faster than you realize, and you want to make the transition easier and affordable. The CPA Journal explores common Medicaid...
Planning for the future is important. However, more people plan for financial reasons than for medical ones. An advance healthcare directive gives directions regarding health and medical care if you are in a state in which you are unable to make these decisions....
When your parents get older and need more care, you likely will begin investigating how much it costs to live in an assisted-living facility or nursing home in New York. Very quickly, you’ll realize your parents’ nest egg may not cover the high costs. A month in a...
Long-term care insurance is expensive; long-term care is even more so. Still, as New Yorkers age, having access to this service plays a crucial role in their retirement plans. Without it, they could lose their entire retirement savings in one expensive procedure and...
