While many Americans spend their through assets in old age, a surprising number have more savings two decades after retiring than they do when they leave their jobs. The phenomenon is yet another chapter in the story of old age in the US-- which might be titled A Tale Of Two Retirements. A new study by Sudipto Benerjee of the [...]
We spend more on our health care as we age. No news there. But you may be surprised to learn that all health spending is not created equal. For most of us, as long as we can stay out of the hospital or a nursing home, our costs are relatively modest--and steady--even as we grow older. But that can change [...]
It isn't news that needing long-term care services can be brutal on your finances but a new study shows just how it can destroy your assets. Median household wealth for those who spend fewer than 30 days in a nursing home is about $108,000. But after 6 months, many nursing home residents are effectively broke, with median assets of barely $5,000. In other words, after [...]