HCS Week 15

Page 1

Established in 1929

Health City Sun

50¢

The

www.healthcitysun.com

April 12, 2019

New Mexico’s Legal & Financial Weekly

Vol. 9.99 No. 15

FORECLOSURE SALES: 0 PROBATE: 40 AUCTIONS: 10 NOTICE OF SUITS: 6 OTHER: 56 SPANISH NOTICES: 0

A Growing Urgency: Why Boomers Should Prioritize Retirement Care

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When thinking about retirement, your main focus may center around not being a burden to your loved ones. In fact, 81% of middle-income Boomers have made at least one formal preparation for when they pass away1. However, despite preparing for these expenses, your retirement plan is far from complete.

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There is one cost that many avoid planning for—retirement care. Just one major expense can shatter your retirement nest egg

so seeking help from a financial planner can help ease that burden.

Retirement care—whether at home or in a facility, due to injury, chronic illness or decline in physical or cognitive function— is an urgent issue that must be addressed.

3. Communicate your preferences. The time to prepare for retirement care is before you or a loved one becomes ill. It’s important to communicate your preferences to family members about how you would like to receive care in retirement. It’s helpful to include a financial planner in these conversations to provide an unbiased answer to your family’s questions. By sharing your plans, your loved ones will be as financially and emotionally prepared as possible should you need retirement care.

Many factors will impact the amount you should save for retirement care such as age, health care needs and cost of living. This week, it’s National Retirement Planning Week, a great time to develop a plan for retirement that includes retirement care. Bankers Life President Scott Goldberg shares three steps to help prepare for retirement care.

It’s never too late to seek help and to 1. Increase your knowledge. Whether better understand your financial plan and you plan to pay for retirement care with current health care coverage to anticipate personal savings or government assistance, unforeseen situations in the future. it’s important to be aware of the costs and the ways to pay for care. For example, 1. Bankers Life Center for a Secure Retirement, A Growing Urgency: Retirement Care while Medicare does not pay for ongoing long-term care, Medicaid may Realities for Middle-Income Boomers pay for some retirement care expenses depending on your eligibility. Bankers Life is the marketing brand of Bankers Life and Casualty Company, Medicare Supplement insurance policies sold by Colonial Penn Life Insurance Company and select policies sold in New York by Bankers Conseco Life Insurance Company (BCLIC). BCLIC is authorized to sell insurance in New York.

2. Develop a plan. Ideally, your retirement and how much money you should save is something you have thought about years before you retire. Having a realistic financial plan can help you live within your means in this new stage of your life. Considering retirement options can be overwhelming -(NAPSI)

Be ‘Earth-Minded’

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n celebration of Earth Day this month, an online Environmental Survey help children and adults be more environmentally responsible,” says Joe can help families and classroom students score their environmental Haworth from the Think Earth Environmental Education Foundation. habits and get practical tips on how to conserve energy, save water, and reduce waste and pollution. Home and school versions of the free survey with detailed results are available online at www.thinkearth.org/surveys. The free survey can be taken in just a few minutes on a computer, smartphone, or tablet. Based on their survey input, families and classes Founded in 1988, Think Earth is a nonprofit organization that pioneered will receive personalized recommendations that can help them reduce their the development of classroom lesson plans promoting environmental environmental footprint and, in some cases, even save money. awareness and behaviors. Think Earth lessons for K-5 elementary grades have reached more than 4 million students. Educators and parents can “Covering all types of household topics, the Environmental Survey is a download the free materials at www.thinkearth.org. fun and informative way for classrooms and families to understand how they impact the environment and to learn commonsense behaviors that -(NAPSI)


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