Building a Financial Safety Net
Creating a financial safety net has rarely been as crucial as it is today. The term ‘retirement security’ has entered the pantheon of great oxymorons, and assets considered safe are flashing danger signals. Combatting the asset-sapping ravages of a long life means rethinking long-term care options, portfolio risk, living wills, withdrawal rates from retirement savings and more.
The vast majority of older Americans, facing steep and rising health-care costs that threaten to bankrupt them, are doing little to protect themselves. Ninety percent of people don't buy long-term care insurance policies, for example. The reasons why are simple.
Facebook Chief Operating Officer Sheryl Sandberg’s exhortation for women to "lean in" to their careers has encountered more than a bit of pushback. But if there is one thing women need to seriously lean into, it is planning what comes after the career: a long post-work life.
You're hospitalized and your family faces impossible choices. This is the scenario living wills are supposed to help with. Very often, the instructions in living wills aren't worth the paper they're written on, say experts.
People usually associate financial bubbles with greed and investors throwing caution to the wind. Seth Masters sees a different dynamic behind a bubble today: fear and investors' desire for safety. He argues that asset classes investors consider safe havens are dangerously overpriced.
Even those who think they have saved enough money to retire comfortably may run out of money if they can't figure out how much to safely withdraw from retirement savings each year. Michael Kitces of Pinnacle Advisory Group has developed a system to determine withdrawal rates based on the stock market's price-earnings ratio.
Less than a week after job-creation figures fell short of expectations and underscored the U.S. economy’s fragility, President Barack Obama will send Congress a budget that doesn’t include the stimulus his allies say is needed.
Single and retired, with no family nearby, 64-year-old Lorna Grenadier knows she'll need a better support system if she wants to grow old in her apartment in the Foggy Bottom neighborhood of Washington, D.C.
The cost of caring for dementia patients has reached $109 billion annually, exceeding that for heart disease and cancer, and will double by the time the youngest Baby Boomers reach their 70s, according to a study.