One of the needs individuals can have as they grow older are long-term care needs. Federal estimates predict that, currently, the likelihood of needing some sort of such care at some point in the future is about 70 percent for individuals turning 65.
One of the great hopes a person typically has when it comes to retirement is that they will have enough saved up to properly cover their retirement. Thus, one retirement-related thing a person may put a good deal of focus on is how much in retirement savings they have. However, there are things beyond just the amount they have saved up that can impact how likely a person is to be in financially solid shape during their retirement years.
As a person gets older, their financial situation can shift greatly. One of the big financial changes people generally experience as they go into their elderly years is the entry into retirement, and the major shift in income situation that goes along with this.
Dementia can impact all kinds of things in a person's life and can cause a person to have considerable long-term care needs. Given this, a trend that a recent study indicates is occurring is an encouraging one. This trend is a fall in dementia rates.
As a person gets older, they may become increasingly vulnerable to financial abuse. Elder financial abuse perpetrators come in all shapes and sizes. They could be family members, friends, neighbors, people who work with or around an elderly individual or strangers.
After years of working hard to build up their assets, an elderly individual may care greatly about keeping their assets safe. Unfortunately, there are a variety of things that could create serious asset depletion risks for seniors.
How one's assets are distributed after death can be an incredibly personal thing. Thus, the details of such distributions are something an individual may want kept out of the public eye after their death. Consequently, privacy is one of the big estate planning concerns an individual may have.
Providing their pet with love and care is something many pet owners care deeply about. Thus, one of the things pet owners may have a fair deal of worry about is what would happen with a beloved dog, cat or other pet if they were to pass away before the pet does.
Many individuals here in Massachusetts give to charity. There are many different charitable giving goals an individual can have, both for gifts made during their life and after-death gifts set up in their estate plan.
Getting the right medical care is important when one is in their retirement years. There are certain challenges that can arise for seniors when it comes to getting the medical care they need for the medical conditions they have. One are challenges when it comes to paying for such care.