Despite frequent reminders, many ignore the need to save separately for retirement. An estimated 33% of Americans have no retirement savings, but more alarming is that 30% of those aged 55 and…
When we retire, we may be giving up more than staff meetings and desk lunches. Work’s social contact and mental demands might be beneficial to our mental health. According to a recent study, working longer, making decisions, and being surrounded by diverse individuals are all beneficial to brain function.
Medicare’s prescription drug coverage will be transformed by provisions in the Inflation Reduction Act of 2022, which, for the first time, allow the program to negotiate prices of some medications with drug manufacturers, cap out-of-pocket costs for beneficiaries, and provide free vaccinations for Medicare enrollees.
Long-term care is unquestionably expensive; if you require it, it will likely be your largest retirement bill. The DHHS (United States Department of Health and Human Services) estimates that eldercare recipients will spend $138,000 on average this year. And the likelihood of requiring some type of long-term care is greater than many believe.