long term care Articles

The Best-Kept Secrets of Senior Living Financing

best kept secrets of financing

best kept secrets of financingThink you know the ins and outs of paying for senior living? These financial facts may surprise you!

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Should You Sell Your Life Insurance Policy?

Should You Sell Your Life Insurance Policy-

Should You Sell Your Life Insurance Policy-If you can’t afford life insurance premiums into retirement and you’re considering surrendering your policy, don’t throw in the towel just yet. Instead of getting little to nothing for your policy, you can work with a life settlement company to secure a solid chunk of your benefit—without paying further premiums.

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How to Select a Nursing Home in a Crisis

nursing home

nursing homeWhat do you do when your parents are in sudden need of a dramatic increase in care?

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You Don’t Want to Outlive Your Money… Or Do You?

retirement savings

retirement savings“As the TV insurance salesman, the financial advisor, and the financial product promoters all say, ‘You don’t want to outlive your money.’ Well, maybe I do,” says Dr. Stanley Riggs, author of Build Wealth & Spend It All: Live the Life You Earned.

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Do You Really Need Long Term Care Coverage?

long term care

long term careFor some seniors, long term care coverage enables them to peacefully age in place. For others, the insurance is a needless expense. Which category do you fall into?

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#ElderCareChat 11/2/11 Recap: Solutions for the Age Wave

There’s no denying it: the age wave or silver tsunami will hit. It’s a matter of when, and what destruction will be left in its wake. Affordable, accessible, high-quality long term care for today’s (and tomorrow’s) seniors is not secure, not a sure thing.

Sadly, we’re not being overly dramatic. The economy has weakened considerably, public and private funding streams are drying up, costs are …Read more ›

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Elder Mediation Video: Watch What a Session Is Like

When siblings argue about senior care for their elderly parents, some are turning to elder mediation: a neutral expert helps come up with a solution acceptable for all.

Elder mediator Carolyn Rosenblatt writes the Forbes Aging Parents blog. Recently, she covered mediation and espoused many of its benefits. But one thing you might find particularly interesting is a short video her company did on what a meeting is like. In How …Read more ›

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Tip for Sandwich Generation: Hold on to Your Financial Security

Money experts are worried about baby boomers’ financial futures, it would seem.

Last week, we covered one warning about planning for yourself while caring for your aging parents. Here comes another one from MoneyWatch.com.

In the video podcast Ask the Experts, journalist, author and blogger Dan Kadlec says 20 million people are in the sandwich generation—caring for both children and aging parents. “A lot of boomers thought we had this figured out, and …Read more ›

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3 Newer Ways to Pay for Senior Care

Senior care is no longer practically synonymous with nursing-home care. By the same token, options to pay for senior care have increased. The New York Times profiled three “relatively new” ideas:

  • Reverse mortgages: Get your home’s equity paid back to you. Most financial experts generally see more cons than pros with this, the article says.
  • Elder care loans: Get a bridge loan to cover the cost of, say, assisted living, “until some liquidity-producing …Read more ›
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Tip for Keeping Extra Money While on Medicaid: Pooled Trust

Many seniors pay for long-term care with their own money until they become impoverished, and then go on Medicaid. The New York Times recently profiled a little-known way around the impoverishment. It’s called a pooled trust. For people over 65, it’s only available in about a dozen states, the article says.

Here’s how it works: a federal law established in 1993 allows disabled people to put their monthly income or assets — above the amounts …Read more ›

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