Long-Term Care and Housing

Many Middle-Income Seniors Will Not Be Able to Pay for Long-Term Care and Housing in 10 Years Total Number of Middle-Income Seniors Expected to Grow by 89 Percent by 2033 CHICAGO, August 31, 2022 – By 2033, more than 11 million middle-income seniors aged 75 and older may not be able to pay for assisted living and […]

Reverse Mortgage to pay for long-term care

Should you use a reverse mortgage to pay for long-term care? Someone turning 65 has nearly a 7-in-10 chance of needing long-term care in the future, according to the Department of Health and Human Services, and many don’t have the savings to manage the cost of assisted living. But they may have a mortgage-free home […]

In Home Care needs

Understanding the Pros and Cons of Reverse Mortgages for Seniors In Home Care needs. Many in home care providers have agreements set up with the large lenders, but I am local and have been helping keep loved ones at home for over 15 years. When it comes to helping an aging loved one with financial […]

What Is the Best Way to Use the Equity from My House to Pay for My Care? My estate consists of a single-family home that is totally paid off, with a current value of $1 million. My adult children have no need for, nor do they want, an inheritance. I would like to get the […]

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Aging Parents Need Help at Home

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How to Determine if Aging Parents Need Help at Home How will you know when your aging parents need help at home? One thing is certain: your aging parents aren’t likely to be the ones who tell you they need a helping hand!  Admitting the need for help and accepting assistance are not easy for people […]

Long Term Care Education

long term care education

How to Plan and Pay for Long term Care With and/or Without Insurance Seniors have been the most vulnerable population during the coronavirus pandemic. They have been especially hit hard by the health impact of the virus, as well as the financial turmoil that the virus has unleashed. But financial security is a concern for […]

Alternatives to Long-Term Care Insurance

Alternatives to Long-Term Care Insurance Anticipating long-term care needs is an important part of retirement planning, as long-term care can quickly eat into your savings. The average yearly cost of nursing home care in a semi-private room was $90,155 in 2019, according to Genworth Financial, rising to $102,200 for a private room. Long-term care insurance […]

Looming Cost Of Long Term Care

These financial advisors help their clients tackle this unknown looming cost of long term care; 70% of us will need. CNBC KEY POINTS. A person turning 65 today faces a nearly 70% chance of needing long-term-care services during their remaining years, government research shows. With prices soaring on insurance policies that provide straight coverage, some […]

U.S. Govt- How to pay for care

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U.S. Govt- How to pay for care. Costs & How to Pay for care – Paying Privately for care – Reverse Mortgages to pay for care. I found this publication by the U.S. Department of Health and Human Services on LongTermCare.gov.   To help find your path forward. The Basics Just beginning to think about long-term care? Start here; it’s […]

Little Wealth Outside Home

Data Confirms Reverse Mortgage Borrowers Have Little Wealth Outside Home According to recent research data, despite some of today’s reverse mortgage efforts targeted toward a population that is using home equity as a comprehensive planning tool, the borrower demographic of the past still holds true: borrowers of Home Equity Conversion Mortgages (HECMs) are made up […]