Long Term Care Insurance Expert | Honey Leveen | Houston, TX

Helping you make informed LTC decisions

Follow Us on FacebookFollow Us on TwitterFollow Us on LinkedInFollow Us on YouTubeFollow Us on E-mailFollow Us on Agent Review
 
Request a Free, No-Obligation LTCi Quote
  • HOME
  • ABOUT
  • WHY LTCi
  • LTCi FAQs
  • PROCESS
  • TESTIMONIALS
  • ARTICLES
  • MEDIA
  • RESOURCES
  • BLOG
  • VLOG

Don’t Count On Working Longer As A Remedy For Inadequate Savings

September 26, 2012 by Honey Leave a Comment

Later RetirementWorkers may think delaying retirement is a solution to inadequate savings, but this may not a reliable strategy, finds Kiplinger’s Personal Finance reporter Eleanor Laise in her September 12, 2012 column.

More than one out of four workers now plan to retire at age 70 or later, according to the Employee Benefit Research Institute. That’s up from 16% in the pre-crisis days of 2007. Just 8% of workers expect to retire before age 60, down from 17% in 2007.

But there’s a jarring disconnect between workers’ expectations and retirement reality. Fully half of the retirees surveyed by the EBRI this year said they left the workforce earlier than planned, and just 8% of them said that positive factors — such as the ability to afford early retirement — prompted the move. For the vast majority of early retirees, negative circumstances, such as company downsizing, played a role.

Please take heed. In today’s harsh economic times, there is a greater need for long-term care insurance ownership than ever before.

Filed Under: Helpful Information About LTC, I'll Just Self-Insure, Information About LTC Tagged With: Eleanor Laise, Employee Benefits Research Institute, ERBI, Honey Leveen, Kiplinger's Personal Finance, Long Term Care insurance, LTCi, www.honeyleveen.com

For Retirees, 70 May Not Be The New 65

September 10, 2012 by Honey Leave a Comment

70 New 65A recent Wall Street Journal MarketWatch article by Elizabeth O’Brien (August 30, 2012) describes a new study by the Employee Benefit Research Institute (ERBI). The study finds that about a third of today’s households won’t be financially prepared to retire, even if they continue working until age 70.

ERBI’s findings are at odds with a prior study by the Center for Retiree Research at Boston College, which found that 86% of households would be able to retire if they worked until age 70.

According to ERBI’s Jack VanDerhei, the reason for the vast descrepency between both studies is “the Center for Retirement Research analysis didn’t factor in the prohibitively high costs of nursing home care, which typically isn’t fully covered by Medicare and is only covered by Medicaid in some cases. His own methodology included the probability of nursing home expenses and arrived at a less optimistic conclusion.”

Here’s an additional quote from the article: “Many workers don’t even have the luxury of delaying retirement. In EBRI’s 2012 Retirement Confidence Survey, 50% of current retirees reported they left the workforce earlier than planned—because of health concerns for themselves or their spouse, changes at their company or other reasons.”

The bottom line: take heed. Medicare does not pay for long-term care. Long-term care costs can be catastophically high. Medicaid-paid long-term care offers little choice and less dignity. Plan accordingly, now! Reasonably priced long-term care insurance is a sane, empowering, logical investment.

Filed Under: Helpful Information About LTC, I'll Just Self-Insure, Information About LTC Tagged With: Boston College Center for Retirement, Elizabeth O'Brien, Employee Benefits Research Institute, ERBI, Honey Leveen, Long Term Care insurance, Long-Term Care Planning, LTC Insurance, MarketWatch, Medicaid, Medicare, Wall Street Journal, www.honeyleveen.com

Contact Me

Phone: 713-988-4671
Fax: 281-829-7177

Email: honey@honeyleveen.com

Hear From My Clients

From My Blog

Tony Bennett is Not in San Francisco

Tony Bennet's story has now gone public. It is uncannily similar to Glen Campbell's. Each was … [Read More...]

Same Old Story

Just a few months ago Al was enjoying his wife, family and traveling. An acute health event occurred … [Read More...]

Testimonials

Open Quotation Mark"Honey - Whenever I need a clarification regarding our “LTC” you are “Johnny on the spot” responding in a very prompt manner, reassuring me, informing me in a concise way, patient with me as I massage the understanding in my own words. Your knowledge is current and expressed with confidence, offered in your conscientious and upbeat personality. Quotation Mark ClosedIt is a pleasure to work with you. Thank you for your expertise." ~ Nancy Damon, Houston, TX
Read more
Follow Us on FacebookFollow Us on TwitterFollow Us on LinkedInFollow Us on YouTubeFollow Us on E-mailFollow Us on Agent Review

Thanks for visiting my site! I like hearing from you!

Here’s how to reach me:

Honey Leveen, LUTCF, CLTC, LTCP
“The Queen, by Self-Proclamation, of Long-Term Care Insurance (LTCi)”
404 Royal Bonnet
Ft. Myers, FL 33908

Phone: 713-988-4671
Fax: 281-829-7177

Email: honey@honeyleveen.com

Email: honey@honeyleveen.com

©Honey Leveen, Queen of Long-Term Care Insurance 2011-2015 ~ All Rights Reserved ~ Customization of Genesis Framework by Weborization