Did you know there is a seven in ten chance that at least one member of a married couple will need long term care one day?.…and the cost of care is steep! Nationwide, extended care is costing $200 billion dollars annually, according to the Wall Street Journal. …Knowing this, millions of Americans have bought long term care insurance. They are paying on those policies, even though their premiums are rising. But it’s worse than you think. The record shows that almost every insurer in the business badly underestimated how many claims would be filed and how long people would draw payments. People are living longer and and claims are costing insurers far more than they planned--Today we'll survey the problem, provide solutions, and welcome some special guests, including PHD Doris Milton. Mastering Money is on the air!!
It's a Charles Payne Friday! Charles Payne of Fox Business and this year's Keynote Speaker for Financial Fest coming up Saturday January 27th --joins us for an interesting and surprising interview! But first, we'll check into the science of financial decision making! College textbooks try to tell us we are all rational beings who make rational decisions all the time. Behavioral economists--like Richard Thaler, recent winner of the Nobel Prize in economics, say it's just the opposite. We'll look at the fascinating science revealing why we mostly we make IR-rational decisions--especially when we invest! Don't miss today's show!!
Long-term-care insurance was supposed to help pay for nursing homes, assisted living and personal aides for tens of millions of Americans when they became unable to take care of themselves.
Now, however, the industry is in financial turmoil, causing misery for many of the 7.3 million people who own a long-term-care policy, equal to about a fifth of the U.S. population at least 65 years old. Rates are rising, and benefits are being cut. What can you do and... what SHOULD you do? We’ll explore the GROWING problem and offer several smart solutions!
..What do you know about claiming your social security benefits? And how do you know … what’s fact-- or fiction?
Should you delay taking your benefits as long as possible? Or are you better off claiming your benefits sooner, than later?
...Or does it even matter … because YOU believe the system is on the verge of going bankrupt anyway? Today on Mastering Money you'll get the facts right from the source that could save you thousands in lost benefits and taxes!!
...It may surprise you to learn that EVERY year, Americans acquire more than $200 billion dollars in new annuities-- And--even more surprising, over half of those annuities are being used for 401(k), 403(b) and IRA rollovers! Why? Studies show there are three key reasons, and we'll review them all plus Steve will have five tips you won't want to miss!