Long-term care refers to a broad range of medical and personal services designed to assist people who’ve lost their ability to function independently. If you’re thinking of buying long-term care insurance (LTCI), you’ll want to make sure it covers the services you may need. Types of long-term care Because some LTCI policies subsidize only certain
A simplified employee pension plan (SEP) is a deferred-compensation arrangement that is similar to a profit-sharing plan. It can be set up by employers and self-employed individuals, as well as sole proprietorships and partnerships. Employers receive tax deductions for plan contributions made to employees’ accounts, and employees do not pay taxes on SEP contributions until
Questions If you have a penchant for financial trivia, put your knowledge to the test by taking this short quiz. Perhaps some of the answers to these questions will surprise you. 1. The first organized stock market in New York was founded on Wall Street under what kind of tree? a. Maple b. Linden c.
Medicare won’t cover all of your health-care costs during retirement, so you may want to buy a supplemental medical insurance policy known as Medigap. Offered by private insurance companies, Medigap policies are designed to cover costs not paid by Medicare, helping you fill the gaps in your Medicare coverage. When’s the best time to buy
Dollar cost averaging is a method of accumulating assets by purchasing a fixed dollar amount of securities, at regularly scheduled intervals, over a period of time (for example, $100 per month over the next five years). When the price of the securities is high, your fixed dollar amount will buy fewer securities, but when the
As the parent of a child with special needs, you face many of the same challenges that any parent faces. But you’ll have to cope with some unique financial, medical, educational, and legal issues as well. Where do you start? Getting reliable information and support is important when you have a child with special needs.
Incapacity means that you are either mentally or physically unable to take care of yourself or your day-to-day affairs. Incapacity can result from serious physical injury, mental or physical illness, advancing age, and alcohol or drug abuse. Incapacity can strike anyone at anytime Even with today’s medical miracles, it’s a real possibility that you or
Your goals and priorities will probably change as you plan to retire. Along with them, your insurance needs may change as well. Retirement is typically a good time to review the different parts of your insurance program and make any changes that might be needed. Stay well with good health insurance After you retire, you’ll
Answer: Although there’s no hard-and-fast rule about when you should review your estate plan, the following suggestions may be of some help: You should review your estate plan immediately after a major life event You’ll probably want to do a quick review each year because changes in the economy and in the tax code often
You may have a very idealistic vision of retirement–doing all of the things that you never seem to have time to do now. But how do you pursue that vision? Social Security may be around when you retire, but the benefit that you get from Uncle Sam may not provide enough income for your retirement
