Era Living’s Post

Curious about the actual costs of long-term care in Maryland? Discover what you need to know to prepare for the future.

Curious about the actual costs of long-term care in Maryland? Discover what you need to know to prepare for the future.

I can help you prevent an eldercare crises before it happens. In my upcoming book "Breadcrumbs," you'll learn how to: ➡ Decode the differences between retirement homes and long-term care facilities in Canada. ➡ Navigate the financial aspects of senior care. ➡ Develop effective communication techniques for difficult conversations. ➡ Recognize early-warning signs that indicate it’s time to consider additional care. ➡ Create a personalized care strategy that evolves with your parents’ changing needs. Sign up to get notified of its launch, today: https://buff.ly/3LoAS2W.

Demand for senior living communities is growing due to an aging population, longer life expectancies, and increased awareness of the benefits of community living. But there are a lot of financial implications to making such a move. Whether “downsizing” “upgrading” or adding the benefits of having skilled care for potential needs later in life – retirement communities aren’t cheap. Listen in as Adam Werner, CFP® and Benjamin Haas, CFP®, CRPC®, ABFP™ share different planning considerations for retirees who may be looking to make a move. View the full YouTube Video here.  https://lnkd.in/eztJxemY

Despite the warm weather, great food, and friendly people, DFW/North Texas cities rank poorly for retirement according to WalletHub... For example: Arlington is ranked 10th-worst in the country for retirees, Garland is 19th-worst, Fort Worth is ranked at a lowly 100, Dallas slightly behind at 106, and Grand Prairie at 142. These rankings suggest that, despite their attractive qualities, these cities may face challenges in affordability, healthcare access, and overall quality of life for retirees.

The rise and rise of the multi-retiree family Sixty years old is the new middle age. We’re all living longer, and by 2034, more than one million families may have multiple generations in retirement simultaneously– a 32% increase on today’s figure of 813,000.1 Multi-retiree families will need their collective finances to stretch further than ever before, and for longer, impacting both inheritances and day to day expenditure. Financial advice can help the whole family look forward to a retirement on their terms, and financial security that protects the welfare and wellbeing of each generation. https://lnkd.in/e7-rXbtM

By engaging in proactive estate planning, individuals can gain a better understanding of the financial implications of their caregiving responsibilities and make informed decisions about the allocation of resources. This can help to alleviate stress and uncertainty, allowing caregivers to focus on the well-being of their aging parents while also safeguarding their own financial future.

Excellent report showing the benefits of pension plans

Important Financial Tip 💰 that I recently learned and wanted to share: Did you know you can check your Social Security status online? Here's how: Visit: Go to the official ssa.gov website 🖥 Create an Account: Set up your personal "my Social Security" account. Review Your Info: Get a detailed breakdown of your lifetime earnings and estimated future payouts 💵 If you're nearing retirement, you can find out how to sign up for Medicare here also. Keeping tabs on your Social Security status can help you plan better for the future. Take a few minutes to check it out—your future self will thank you! 💼💡 #FinancialPlanning #Retirement #SocialSecurity #CareerTips #FutureReady #ssa #medicare

An excellent balanced review of the new “super catch-up” contribution coming to DC plans next year. For participants age 60-63. The provision does offer a significant increase in catch-up contributions. But to date, catch-up contributions have low utilization. Studies report less than 20% of age 50+ participants contribute to catch-up.