Established in 1929
Health City Sun
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October 5, 2018
New Mexico’s Legal & Financial Weekly
Vol. 8.89 No. 40
FORECLOSURE SALES: 2 PROBATE: 28 AUCTIONS: 6 NOTICE OF SUITS: 1 OTHER: 57 SPANISH NOTICES: 1
Four Ideas For Health Care Planning In Retirement
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T
he Employee Benefit Research Institute estimates that a typical 65-yearold couple will spend a total of $265,000 in health care costs over the remainder of their lives. This staggering amount of money has the potential to derail even the best-laid retirement plans.
Prepaid copy copy provided Prepaid providedby:by: TheTime Health City Sun llc. 2012 Prime Publishing 2018
Vanguard and Mercer recently developed a new framework, “Planning for Health Care Costs in Retirement,” that identifies practical tips for forecasting your health care expenses. Here are four top ideas:
1. Personalize health care costs. Start by understanding how your health history and current health status will influence expenses. Even your geooffset unexpected health care expenses, it may be a good idea to take stock graphic location, marital status and age at retirement will impact your foreright now of all your assets. Many seniors are surprised to learn that one pocasts. tential asset for generating immediate cash is a life insurance policy. 2. Plan for long-term care. This is a tough one to assess because half of You should review your life insurance policy from time to time and deterretirees won’t even incur these costs, but on the other end of the spectrum, mine whether or not it’s still needed. A life insurance policy is considered 15 percent of retirees will spend more than $250,000. Consider potential your personal property, so you have the right to sell it anytime you like. long-term care options, such as unpaid care from family and less-expensive When a consumer sells a policy—something called a “life settlement” transavailable facilities. action—the policy owner receives a cash payment and the purchaser of the policy assumes all future premium payments, then receives the death benefit 3. Create a hedge in your budget for other expenses. Research shows that upon the death of the insured. Candidates for life settlements are typically retirement spending in virtually all categories other than health care tends aged 70 years or older, with a life insurance policy that has a death benefit to decline with age. By forecasting steady spending in other expense areas, of at least $100,000. you may create a buffer in your budget to deal with rising health care expenses. If you own a life insurance policy you no longer need or can afford, you may be able to generate immediate cash to pay your health care expenses by 4. Forecast costs in annual spending. There are so many variables involved selling that policy for immediate cash. in estimating health care costs in retirement that trying to plan around a total lifetime budget can be overwhelming. Experts recommend that you To learn more about life settlements, visit www.LISA.org or call the LISA focus on annual spending plans instead, provided that you understand costs office today at 888-921-3793. will rise as you age. For seniors who are struggling to find cash in their retirement budgets to
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Try A Taste Of Hispanic Heritage
N
ational Hispanic Heritage Month is an opportunity to acknowledge the their juice over various foods to give them a south-of-the-border style “kick” history, culture and contributions of the people of Mexico, the Carib- of heat and spice. bean, Central and South America, and Spain. One of the best ways to celThe restaurant’s sister brand, Texas Chicken, features the Mexicana Burgebrate, many say, is with food. er on menus worldwide. This tasty chicken burger is a fiesta of tastes and Making that easy is one restaurant chain that’s having a year-round love textures, with a juicy hand-battered chicken breast fillet that’s topped “taco affair with Latin and Hispanic cuisine. Long known for its authentic Tex- style” with cheese, fresh lettuce, tomato, spicy mayo, crunchy tortilla chips Mex roots, Church’s Chicken®/Texas Chicken® has spent years champi- and chopped onions. oning the commemorative period—which runs from September15 to October 15th—on a global stage.
Learn More
For further facts and to see a menu and a map of the nearest location, go The first Hispanic influence on the company’s menu was the jalapeño pepper—the very first side item ever offered at the restaurant chain. The to www.churchs.com. peppers were added to the menu due to a San Antonio tradition of squeezing -(NAPSI)