How much do you need to budget for health care expenses in retirement? Spoiler alert: It’s a big number with a lot of zeroes. According to Fidelity Investments, which has been measuring health care costs since 2002, staying healthy will run the average retiree couple about $9,400 per year, or almost $800 per month. That […]
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A Tough Decision: To Age In Place Or Not?
We’re having a conversation with our widowed client Betty and her daughter Karen (names have been changed) about whether she plans to stay in her home or start looking into independent living communities. It’s a tough decision, and one that comes with more than its share of emotional baggage. Our expertise, of course, is weighing […]
Disability Awareness Month: Yes, It Can Happen To You!
May is Disability Insurance Awareness Month. Disability insurance can provide income protection if you are unable to work. Disability is more common than you think. One out of every four 20-year-olds will become disabled and be out of work for 12 months or more before they turn 67. Disability can stem from many causes, including […]
New Measures To Protect Seniors From Financial Abuse
To protect seniors from financial abuse, brokers like Charles Schwab are rolling out new protective measures. Starting February 5, brokers will ask you to name a “Trusted Contact,” like a family member or friend, they can reach out to if they suspect you may be subject to financial exploitation, or if they have questions about […]
Is Owning A Dog Good For Your Health? It’s Pawsitively Certain!
Did you know that one of the best ways to de-stress your life is to own a pet? In fact, owning a dog is linked to living a longer life, writes Time magazine, summarizing research published in Scientific Reports. The research finds that “canine companions may be good for human health—especially for people who live alone.” […]
Quote Of The Week: States Can’t Afford The Retiree Health Benefits They’ve Promised
“U.S. states as a group have promised hundreds of billions more in retiree health benefits than they have saved up. The shortfall amounts to at least $645 billion, according to a new report from the nonprofit Pew Charitable Trusts based on 2015 data. That is in addition to the $1.1 trillion that states need to pay […]
What To Do Before The Next One Hits: 5 Lessons From Hurricane Irma
Irma was the most powerful storm ever recorded in the Atlantic Ocean. It killed over 75 people in Florida and caused billions of dollars of damage. Those of us in South Florida were lucky to have escaped worse. Here are 5 major lessons we learned from Irma: Lesson #1: Don’t neglect flood insurance. Roughly 80% of […]
Why Small Business Cares So Much More About Health Insurance
Here’s a simple explanation for why small business owners in America care so much about the health care debate. Even before the Affordable Care Act, most large employers offered health insurance to their employees. The Kaiser Family Foundation says nearly 96 percent of large companies in the U.S. were already offering coverage to employees, even […]
Women: This Is What Your Future Health Care Will Cost
Women, wondering how much you need to set aside to cover your health care costs in retirement? The amount you’ll need is a cool $156,000. That’s the amount a healthy 65-year old woman will need to save to have a 90 percent chance of covering her total health costs in retirement (note: this amount EXCLUDES […]
Feeling Squished? It’s Sandwich Generation Month!
July is Sandwich Generation Month, celebrating those people who have the double-whammy of responsibility for taking care of both their children and their aging parents. If you have experienced this first-hand, you already know the incredible stress that comes with taking care of three generations at once. How many Americans are part of the sandwich generation? […]
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About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for twenty five years. Mari has appeared in publications such as Business Week, CBS MarketWatch, Wall Street Journal, Kiplinger’s, Newsweek, and Money Magazine.
