How Much Savings Do I Need To Retire Comfortably?

Most people don’t think of retirement when they are young, and that is a problem. 

The earlier you start investing in your savings account, the less you will worry later about the amount of money needed to retire. 

Most experts suggest saving $1 million as the average amount needed to retire, but this number can vary depending on who you ask. A better estimate is to save 80% of your annual pre-retirement salary so you can live comfortably after. 

Unfortunately, 75% of Americans have retirement funds that fall short of their savings target. 

If you’re wondering, “How much do I need to save for retirement?” now is an excellent time to start evaluating your expectations and goals for the elderly life.   

Long Term Care Planning: Why It`s Smart To Plan Ahead

Long-term care refers to support and services availed by those individuals who cannot perform basic tasks required for daily living without assistance. These include transferring, continence, dressing, bathing, toileting, eating.

Did you know that 70 percent of people turning 65 will need some form of long-term care in their lives? It has become such an essential issue that Congress officially declared November the Long-Term Care Awareness Month. This was done to highlight the growing healthcare costs and the rising care needs for an aging boomer generation.

If you don’t plan out your long-term care services, it can impact your family dynamics and your assets in the future.

Caregivers: Remember to Care for Yourself

We’ve all been there:  wake up, get our loved ones out the door; get to work, immediately start on our caregiving duties. All of a sudden, 2 p.m. rolls around and we’re feeling a bit funky. Why? Because we never stopped to eat. Sound familiar?

All too often, it is. As caregivers, we need to remember that great care partners also care for themselves. Being a caregiver means wearing many hats—you may be a spouse, a child or a parent; a nurse, an advocate, a coordinator, a communicator, a liaison, or a friend–and sometimes several of those all at once.

Is It Depression or Just the Blues?

Depression is a common mental health condition that affects more than 6.5 million American aged 65 or older. The symptoms of depression include feelings of sadness, loss, anger or frustration. It is often untreated because many people think that depression is a normal part of aging and a natural reaction to chronic illness, loss and social transition. Also, this mood disorder is often untreated because an elderly individual may be isolated because he/she doesn't live in an Assisted Living NYC, which in itself can lead to depression. When depression isn't treated, the risk for mental illness and cognitive decline increases. The causes of depression include health problems, loneliness, isolation, reduce sense of purpose, fear of death, and recent bereavement. Because grief and depression share many symptoms, it isn't always easy to distinguish the difference. Grief is a roller coaster; it involves a wide variety of emotions and a mix of good and bad days. With depression, on the other hand, the feelings of emptiness and despair are constant. It doesn't go away by itself and lasts for months. If untreated, depression can affect the body. For example, it can increase the risk for health disease and can suppress the immune system, which can raise the risk for infection.