Beyond wills and trusts, planning for the future should also include two advance directive documents—a living will and a health care proxy—that would take effect if you were unable to dictate your own medical care. Everyone, both yourself and any aging family members, should have both documents properly filled out, witnessed, and on file with health care providers as well as at home. [Read more...]
Are you part of the “sandwich generation,” caring for both parents and children while mapping out your own retirement? Planning for your parents’ elder care is probably low on your to-do list, but the sooner you begin talking and planning, the better for everyone. Mid-crisis is not the time to gather information or make important decisions. Here are some suggestions to ease the process. [Read more...]
Regardless of one’s age, most people I talk to are concerned about the cost of health care. The rising cost of health care has contributed to the growing popularity of health savings accounts (HSAs). An HSA is a tax-favored account you can use to pay out-of-pocket medical expenses.
Whether you’re covered by a company health care plan or paying for a personal plan or Medicare, health care costs are rising—in premiums, co-pays, deductibles and other out-of-pocket costs. It’s hard to control those costs since they are established by the insurance and medical industries, but there are some things you can do to curb the rising costs of health care that have little to do with your wallet: [Read more...]