“Millennials and retirement: How bad is it?,” by Alicia H. Munnell, Politico “Concern about the financial health of America’s younger generations is growing—especially millennials, a demographic boom that came of age in an environment of unstable work and record levels of student debt. Experts worry that millennials are falling so far behind previous generations that their retirement may be at risk. My research suggests that those concerns are real, and millennials really are building wealth more slowly than the other working generations. But they are not insurmountable—as long as millennials are willing and able to work longer than their parents
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“Planning for Retirement as a Single Person,” by Kaitlin Pitsker, Kiplinger “Aging presents uncertainties for everyone, but single, childless seniors are missing the backup that many people take for granted: a spouse or adult children who can step in when needed. Many of the usual basics of saving, investing and long-term financial planning apply to those aging without a life partner or adult children, but they also need special strategies for retirement saving, health care and estate planning. … No matter how carefully you’ve planned or how much you’ve saved, if you don’t have long-term-care insurance, a chronic illness could
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“Long-Term-Care Insurance Isn’t Dead. It’s Now an Estate-Planning Tool,” by Leslie Scism, Wall Street Journal “Such policies that combine long-term-care coverage with a potential life-insurance benefit are called ‘hybrids,’ and they are reshaping the long-term-care niche of the U.S. insurance industry just as it had appeared headed for obsolescence, financial advisers say.” LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform): Leslie Scism writes again about LTCI, this time tipping favor toward hybrids. An earlier article, “Millions Bought Insurance to Cover Retirement Health Costs. Now They Face an Awful Choice,” attracted comment including this LTC Bullet
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“No, Medicare Won’t Go Broke In 2026. Yes, It Will Cost A Lot More Money,” by Howard Gleckman, Forbes “Let’s get right to the point: Medicare is not going ‘broke’ and recipients are in no danger of losing their benefits in 2026.” LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform): What’s the expression? Lipstick on a pig. Of course Medicare is broke even if it can pay partial benefits after 2026. Any private carrier in the same straits would be out of business already. The difference is Medicare has no guaranty association to back it
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“‘Invisible workforce’ of caregivers is wearing out as boomers age,” by Jackie Crosby, Star Tribune “Growing numbers of Americans face the immense and often overwhelming challenge of caring for an aging parent or other loved one, a burden that will skyrocket as 76 million baby boomers move into their 80s and need help coping with dementia, cancer, heart disease or just plain frailty and old age. … Soon, Minnesota and the nation will reach a demographic crossroad. In 2030, the first wave of the baby boom generation will turn 85, an age when people are twice as likely as those
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