America is facing a retirement crisis, as many people have inadequate savings and are having to work well into their senior years to pay for living expenses. The situation may also worsen over the next decade, as social security benefits are expected to be cut by as much as 20% at the same time as […]
28 Retirement Statistics You Should Know for 2025 Read More »
In 2022, the average retirement age in the United States was 64 years old, although this number has significantly increased over the last 20 years. In fact, the average retirement age was 59 years old in 2002, meaning that Americans are working about 5 extra years before retiring in today’s economy compared to the start
7-Step Checklist for Retirement Read More »
In 2023, more than 1.2 million Americans live in nursing homes and it’s estimated that almost 70% of seniors turning 65 today will need long-term care services at some point in their lives. The decision to move into a nursing home can be difficult by itself, but choosing the right nursing home can be
11 Questions to Ask Nursing Homes Read More »
When you retire, the goal should be to have enough savings and monthly income to maintain your lifestyle. To help you plan, we’ll share what a good monthly retirement is and sources of income you can utilize to fund retirement. What’s a good monthly retirement income? To maintain your lifestyle in retirement, most financial planners recommend
What Is A Good Monthly Retirement Income? Read More »
Medicaid is a widely utilized government program to help with health costs, with over 90 million Americans enrolled in Medicaid or CHIP as of August 2022. Among benefits provided by the program, is assistance paying for long-term care that costs $1,625 per month on average throughout the United States. After retiring, seniors may find their finances stretched
What Is Medicaid’s Look Back Period and How To Avoid It Read More »
Acknowledging your elderly parent or loved one isn’t as self-sufficient as they used to be is difficult for many people to accept, but recognizing the signs and taking the proper steps is important for their long-term health. As your parent becomes older or their condition deteriorates, you may find yourself having to devote more time
Does Your Elderly Parent Need 24-Hour Care? Read More »
As inflation and the cost of living goes up, many people are looking for ways to save and stretch their dollars further. Luckily for seniors, many stores and restaurants offer discounts to people above a certain age. If you’re not sure which places offer discounts or which ones are worthwhile, we’ve compiled a list of
The Top of Senior Discounts of 2023 Read More »
Following burnout among long-term caregivers as a result of the pandemic, nearly 240,000 caregivers or 15% of the nursing home workforce have left since 2020 in an event that’s being called “The Great Resignation”: (Source: Federal Reserve Bank of St. Louis) To expand on this finding, a June 2022 survey by the American
How Nursing Home Staffing Shortages Affect Seniors Read More »
In 2024, the median cost of a a private room in a nursing home is $9,872 per month or $8,641 for a semi-private room. Annually, this amounts to over $100,000 a year which is high enough that even seniors with a good monthly retirement income may struggle to pay expenses. So what happens if
How to Avoid A Nursing Home Taking Your House Read More »
Even with adequate retirement savings, individuals may find it difficult to pay for assisted living costs and seek solutions from the government. To help you understand your options, we’ll explain the role of medicaid and medicare when paying for assisted living. Plus, get other helpful information on covering these costs.
Does Medicaid Pay For Assisted Living? Read More »
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