As you approach your 60s, the hot question becomes, “When should I file for Social Security?”
It’s an easy question, right? You just figure out when you’re going to die, and then do the math.
Unfortunately, the world doesn’t work like that.
Devin points out that the real question should be, “What if I live longer than expected?
For more information, visit the show notes at http://www.bigpictureretirement.net/061
Should I buy long-term care insurance? Should I keep the long-term care insurance I already have? These are important questions, and there are no easy answers. Long-term care is expensive, but long-term care insurance is also expensive. When you start looking at some of the statistics, it can get scary. But thankfully, the statistics don’t show the whole picture. Once you consider all the issues and factors, the big question is managing the risk of needing financial assistance with long-term care vs. how much it is going to cost to manage the risk. There are three ways to pay for long-term care: 1) Self-funding through personal assets 2) Through access to government benefits, either VA benefits or Medicaid 3) Long-term care insurance For more information, visit the show notes at http://www.bigpictureretirement.net/060
How do you figure out how much money you're spending on your investments?
In this week's episode, Devin and John talk about the types of fees you might be paying, and how you can figure out what they are.
For more information, visit the show notes at http://www.bigpictureretirement.net/059
One in three people will eventually have some type of dementia. By the time you reach age 80, your chances of having Alzheimer’s is about about 50%, meaning that it’s very likely for at least one spouse in an older couple to have cognitive decline.
Which brings us to a serious question: Can your spouse give full consent to sexual activity if they have diminished memory and understanding? Devin and John discuss a case where the husband was charged with criminal rape of his wife who had Alzheimer’s disease.
For more information, visit the show notes at http://www.bigpictureretirement.net/058