Topics on Finances
Have you thought about using a checklist to help you plan for the future? Found this checklist that one financial planner uses:
Financial Planning is no longer an option.
It is important to have qualified advisors to consult on financial issues including:
- Retirement planning and investments;
- Homecare options: consider cost of homecare vs. nursing homes
- Income tax and estate or inheritance tax planning;
- Money management;
- College funding accounts
- Financial or investment planning;
- Insurance from health, automobile, home, and life to long term care insurance
- Gifts and bequests, as part of estate or inheritance planning.
There are numerous professional organizations that certify the proficiency in professional disciplines
Great article on formulate family’s plans
Posted by: | DateFound a great article from Kenneth C. King, Jr., Esq. on the right time to formulate and discuss your family’s plans, including your estate plans.
link to Kenneth C. King, Jr. Esq article
Long Term Planning
Posted by: | DateHere is an article from one of our recent newsletter.
Are you content with your lifestyle and want to assure that you will be financially able to age in place ?
Now that you have seen how your parents’ long term care needs are impacting their lifestyle, are you wondering how you will manage your
long term needs?
Focus on your finances!
The average cost for a nursing home is about $6,350 per month. Persons who receive care at home spend an average of just $1,600 per month. Putting a financial plan in place can help preserve both your savings and your peace of mind. There are many ways to plan. Once effective way is to purchase long term care insurance. Some people use their “home to stay at home” by utilizing a reverse mortgage fully guaranteed by the Federal Housing Authority. Others plan to downsize in square footage as they age. Care For Life can refer you to community resources for detailed information.