Retirement Planning & Long-Term Care
b'With Eleanor Blayney, Certified Financial Planner, Founder \\u2013 Directions (financial planning for women)
With about 10,000 baby-boomers entering retirement each day, retirees must address one fundamental question \\u2013 where and how would they like to live out their golden years? Americans overwhelmingly like to stay put in retirement. Sometimes, simply because they can\\u2019t afford the advantages of moving to a pricey retirement community. But more often because home sweet home is where they want to be; it\\u2019s where they feel most comfortable, where they\\u2019ve developed community bonds, know where things are, etc., without considering the pros and cons of living there as retirees.
It\\u2019s also because the idea of trying something new at an older age is just not appealing to many. But moving may become less of a necessity with the recent advent of Naturally Occurring Retirement Communities or NORCs in areas that have a high number of senior populations and cater to retirees\\u2019 needs. So it\\u2019s something seniors should look into as they head into retirement.
Eleanor also talks about high long-term care insurance premiums, their unattractive use-it-or-lose-it features and alternatives that are financially more appealing including reverse mortgages that are coming under greater government scrutiny and beginning to get more attractive as a mainstream financing option, provided you understand the details and ramifications.'