Start Now. Time can be an investorís best friend. By investing $500 a month at age 40, and assuming 8% growth, one could have $465,000 by age 65. By waiting until age 45, that amount decreases to $300,000. Thatís a 38% penalty for waiting five years.
Long-Term Care Options
Roughly four out of ten people age 65 or older will need at least some long-term care, either at home, in an assisted living facility, or in a nursing home. The majority of people who live into their eighties or even nineties do so in relatively good health. For those that arenít that fortunate, care can be expensive. Traditionally, care for an elderly relative has been given in the home by unpaid members of the family. With fewer family members available to stay at home and provide this needed care, demand is growing for professional help. Professional help is expensive....Read More