Retirement Planning and Long-Term Care

Retirement planning requires a lot of educated guessing in terms of how long you’ll live and at what age you’ll stop working. In general, people can expect to live at least 20 years post-retirement at age 65. Lifestyle, family history, and overall health are factors to consider. What hasn’t been factored in until recently, is the cost of any long-term care that might be needed. This is a much harder item to pin down. However, one recent study suggests…

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Retirement Planning and Long-Term Care

Retirement planning requires a lot of educated guessing in terms of how long you’ll live and at what age you’ll stop working. In general, people can expect to live at least 20 years post-retirement at age 65. Lifestyle, family history, and overall health are factors to consider. What hasn’t been factored in until recently, is the cost of any long-term care that might be needed. This is a much harder item to pin down. However, one recent study suggests…

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It’s Never Too Late to Save for Retirement

(updated December 10, 2019) Whether you’ve just started thinking about saving for retirement or having been saving enough, you can ramp up your efforts and still put aside enough to retire. There are five specific steps you should take to start increasing your retirement savings today. 1. Max Out Your Contributions People younger than 50 can contribute up to $19,000 (2019) and $19,500 (2020) of pretax income to a 401(k) or other employer-sponsored savings plan each year. After turning…

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