Tag: retirement

  • Of course, retirement doesn’t look good when you don’t have any savings

    July 8, 2019

    Tags: ,

     

    The reports and the anecdotal stories of bankruptcy are piling up.  Some are blaming the Affordable Care Act, some the insurance carriers, some simply the high cost of medical care and of course the employers for cutting back on the level of coverage they provide (when they are not cutting back the amount they allow for premium payments).  In a new report titled “The US Healthcare Cost Crisis,” which surveyed more than 3,500 adults, it was estimated that seniors have pulled an estimated $22 billion from their long-term savings for healthcare-related expenses, an average of $3,789.  Major findings from the report are:

     

    10% of those 65 and older did not seek needed treatment in the past year due to cost

    About 7 million seniors could not afford to pay for prescriptions in the last year

    80% of the prescriptions that seniors can’t afford are used to treat serious conditions

    92% of seniors believe the cost of healthcare will not improve or will get worse

    45% are afraid they will have to file for bankruptcy if faced with a healthcare crisis

  • Failing to Save with No One Left to Save them if they Fail – 401(k) is up but not enough

    July 3, 2019

    Tags: ,

     

    Almost half of Americans approaching retirement have nothing saved in their employer sponsored 401(k) or an individual account.  If there is any good news, this number has improved over a few years earlier.  Still, of those 55 or older, 48% had nothing put away, according to a recent GAO estimate.

  • Of course, retirement doesn’t look good when you don’t have any savings

    July 8, 2019

    Tags: ,

     

    The reports and the anecdotal stories of bankruptcy are piling up.  Some are blaming the Affordable Care Act, some the insurance carriers, some simply the high cost of medical care and of course the employers for cutting back on the level of coverage they provide (when they are not cutting back the amount they allow for premium payments).  In a new report titled “The US Healthcare Cost Crisis,” which surveyed more than 3,500 adults, it was estimated that seniors have pulled an estimated $22 billion from their long-term savings for healthcare-related expenses, an average of $3,789.  Major findings from the report are:

     

    10% of those 65 and older did not seek needed treatment in the past year due to cost

    About 7 million seniors could not afford to pay for prescriptions in the last year

    80% of the prescriptions that seniors can’t afford are used to treat serious conditions

    92% of seniors believe the cost of healthcare will not improve or will get worse

    45% are afraid they will have to file for bankruptcy if faced with a healthcare crisis

  • Failing to Save with No One Left to Save them if they Fail – 401(k) is up but not enough

    July 3, 2019

    Tags: ,

     

    Almost half of Americans approaching retirement have nothing saved in their employer sponsored 401(k) or an individual account.  If there is any good news, this number has improved over a few years earlier.  Still, of those 55 or older, 48% had nothing put away, according to a recent GAO estimate.

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