All posts by Erica Farrell

New Study on Caregiving and Its Impacts

Transamerica Institute is featuring a new study on The Many Faces of Caregivers: A Close-Up Look at Caregiving and Its Impacts. They surveyed over 3,000 non-professional family caregivers around the country to offer a better understanding of a caregiver’s duties. The study included the impact of caregiving on a person’s personal health, well-being, finances, employment, and preparations for retirement.

The research offers an in-depth analysis of caregivers by employment status, gender, generation, ethnicity, household income, whether they are the primary caregiver, and whether they volunteered to be a caregiver or not. Also included was information about their personal health and financial situation.

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A Look at the Rising Cost of Long Term Care

Genworth Financial recently released their annual 2017 Cost of Care Survey Findings. For 14 years, Genworth has examined and documented trends across the long term care services market. It’s not surprising that their results have found the costs for care services steadily rising over the years for home care, nursing home care, and everything in between.

To help you digest their new 2017 survey report, we’re providing an overview of their findings based on the national median rates for various care settings.

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The Spooky Truth About Not Having a Long Term Care Plan

Have you created a long term care plan for your future? It’s frightening to realize 70% of people will need long term care services due to a physical or cognitive impairment as they age. With these odds, the best way to prepare for the future is to make a plan for long term care before you need it. Here’s the spooky truth of what could happen if you don’t make a long term care plan.

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How Technology Can Help with Aging in Place

Nearly 90% of seniors prefer to stay in their homes as they age, according to the AARP. As seniors begin needing day-to-day assistance, high-tech monitoring systems and other gadgets can help seniors age in place independently. These technologies also offer family members peace of mind knowing they can easily check on the status of their loved one. The following are a few aging in place technologies to help seniors stay at home longer.

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How to Create a Retirement Budget

When planning for retirement, it’s important to calculate how much money you’ll need for the rest of your life. A retirement budget can lead to less stress and more fun by avoiding common mistakes such as spending your money too soon.

Settling on a retirement budget will put yourself in a place to make smart choices about the retirement lifestyle you want. You may discover trade-offs to enable yourself to retire earlier, travel more, or pursue hobbies.

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When You Shouldn’t Buy Long Term Care Insurance

At LTC Consumer, we believe Long Term Care insurance (LTCI) is an important part of long term care planning, but we understand LTCI isn’t for everybody. In fact, we’re not afraid to tell clients when LTCI may not be the best option for them.

If you’re trying to decide if LTCI is right for you, the following are a few great reasons to consider when exploring your options.

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