A retirement strategy isn’t written in stone. It’s a living document. Even if you think you’ve got everything squared away — and yes, even if you’re already retired — it’s just plain smart to revisit your money master plan now and then.
For starters, you should look for tactics to help cut recurring costs, to help protect your nest egg. It’s even smarter to look for ways to grow that nest egg; for example, it’s never too late to get an expert’s opinion on your current investments.
Don’t leave your golden years to chance. Take charge of your financial future with these super-simple tactics.
1. Protect your family and your future now
Here’s hoping your retirement years are active, healthy and vibrant. That you are able to function as you always do, right up until the time you shuffle off this mortal coil.
The reality? According to the U.S. Department of Health and Human Services, 7 in 10 people who turn 65 today will probably need some kind of long-term care.
Some people think you can’t get affordable long-term care insurance after age 30. But GoldenCare has clients who are much older than that. (Unless they live in Alaska, Florida, Hawaii or Washington, the four states where GoldenCare doesn’t operate.)
Here’s another misconception: that Medicare will take care of all your health needs. For example, it doesn’t cover “custodial” care — say, when you’re released from a hospital into a recovery center or nursing home until you can live safely on your own. You’d be on the hook for that bill yourself. (Hint: It won’t be cheap.)
Fact is, most long-term care is “custodial”: help with bathing, dressing, wound or surgical site care, shopping and light housework. Without long-term care insurance, you’ll need to pay out of pocket or burden relatives with your care. You might also lose your independence if no one lives close enough to help, but you can’t quite manage on your own.
And if you’re already in assisted living, or taking a spouse to an adult daycare center? They’re covered, too.
It’s impossible to say whether your current health will stay good. That’s why investigating long-term care insurance is so important: It protects you and your family. Get a free quote today.
2. Secure your retirement with gold and silver
Diversification is essential for retirement investing. Put all your eggs in the wrong basket, and you could wind up with egg on your face. Case in point: Those who thought their “safe” investments were truly safe have had a tough time lately, watching …….
Source: https://www.moneytalksnews.com/7-wise-money-moves-to-make-in-your-50s-and-beyond/