Life spans are increasing, and many of us are living well into our 80’s and 90’s. At the same time, however, the price of long-term care is increasing, and as we learned last week, you CANNOT count on long-term care insurance to … [Read more...]
Attitudes Are Changing About Reverse Mortgages
Q. My mother-in-law, Rita, owns a home in Vienna that is valued at $675,000 and the amount owed on her mortgage is still around $300,000. When she retires next year, the monthly mortgage payment will be unaffordable for her, but … [Read more...]
70% of Americans turning 65 will need Long-Term Care
Correction: The title of our newsletter is incorrect. It should be "One in seven adults will have a disability for more than five years." We apologize for this error! Photo from homeaidescny.org A … [Read more...]
$10,000 a month! Why don’t they take it seriously?
Q. My parents are in their 70's and I am a caregiver for them, while working part-time and raising a family. My father has had Parkinson's for fifteen years and is no longer mobile. My mother is in the early stages of Alzheimer's. … [Read more...]
Non-Borrowing Spouses Can Still Face Eviction Due to Previous Reverse Mortgage Rules
Amy (59) and her husband, Frank (66), decided to get a reverse mortgage, sometimes known as an HECM (Home Equity Conversion Mortgage), last summer to supplement Fred's Social Security. Amy was left off the reverse mortgage, due to … [Read more...]
Want Free Long-Term Care? Try Medicare Part G.
Q. Nursing homes are so exorbitantly expensive. There is no way I can afford long-term care for myself, when the time comes, or for my husband, Morty. Is there any way to qualify for free long-term care in this country? A friend … [Read more...]
Holiday Tips for Parents of a Special Needs Child
Dear Saki and Alley, I recently got remarried and we are going to my sister’s house for the holidays. My new stepson, Sean, is autistic and doesn’t do well with new places or changes to his routine. Do you have any suggestions … [Read more...]
Finding the Right Nursing Home
Carol and Bob invited his mother, Ginny, to spend the holidays with them, as she does every year. This year, her live-in caregiver expressed concern that it was not a good idea because Ginny’s dementia has gotten worse and she may … [Read more...]
Virginia 529 Prepaid Education Plan Limited Time Open Enrollment: Plan Ahead for Your Child or Grandchild
We all dream of the day when our child or grandchild is accepted to college. From the time he or she is diapers, we begin planning for great things. We drive them to soccer, gymnastics, and music lessons in hopes that they are … [Read more...]
Long-Term Care Insurance- The Good, the Bad, and the Ugly
November is Long-Term Care Awareness Month, a continuing effort to raise public awareness about long-term care insurance and planning. Statistics show that more than 70% of people age 65 or older will need long-term care sometime … [Read more...]
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