Financial News

The middle-class Americans have plenty to worry about, viz. the inflation, the rise in healthcare costs, growing old with too little savings, postponing their retirement and not having enough resources and options in case of a crisis after they retire. The rapid and total disappearance of defined-benefit pensions has left many Americans unprepared for retirement. […]

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What is elder abuse? Millions of elderly are abused, neglected and exploited everyday regardless of their ethnic, social and economic background. And the abusers are none other than their own family and friends, or the caretakers and staff at nursing homes, assisted living facilities etc. Around 90% of the elder abuse and neglect incidents is by […]

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The bankrupt city of Detroit and its retirees have reached a tentative agreement in a health insurance dispute that may end a lawsuit against the city so as to limit planned cuts to retiree health care coverage, and thereby potentially resolving one of the most expensive issues in the city’s bankruptcy case. The retirees had […]

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Revocable living trusts and wills both allow you to name people to inherit your property and assets. Other than that, they are beneficial for different reasons.  For example, most people use living trusts to avoid probate (court-supervised distribution of estate).  However, living trusts are more complicated and costly to make, and you can not use […]

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Estate plans are important to have in place, regardless of your net worth, to ensure that your intentions for your possessions and assets are followed after death. An estate plan has several elements including a will, assignment of power of attorney, a living will or health-care proxy (medical power of attorney), and for many people […]

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The study published in the Archives of General Psychology suggests that there is a strong link between loneliness and Alzheimer’s in old age. Also, as people grow older, they tend to become prone to many diseases including Alzheimer’s, which is the most common cause of dementia or loss of intellectual function, especially among people aged 65 and […]

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The Affordable Care Act will prohibit health insurance companies from charging more for women. However long-term-care insurance is not covered by those rules. As a result insurance firms may start charging differential premiums based on gender, which could be 40% more for women. The Affordable Care Act puts in place strong consumer protections, provides new […]

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Americans are on the verge of yet another “Fiscal Cliff” that was scheduled to start at the onset of the New Year. President Obama and Congress have devised a last minute deal to avoid this on Tuesday January 1st, 2013. They have come up with a combination of automatic spending cuts and tax hikes that […]

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What would increasing Medicare’s eligibility age mean? In his second term, President Obama has proposed to increase the age of starting Medicare to control the program’s spending.  However, people in general are apprehensive if this is going to work on a long-term basis. In order to control the federal deficit, both President Obama and congressional […]

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Healthcare spending in America was 2.7 trillion dollars in 2010, 17.6 percent of the gross domestic product (GDP).  By 2021, it is estimated to become 19.6 percent of the GDP, of which 50% is the share of the U.S. federal government.  The rise in healthcare spending is going to put tremendous pressure on the government […]

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Future of Social Security

November 28, 2012

There are several proposed changes to the Social Security program to make its benefits available for the long-haul, while making it more equitable and fair.  In the current state, Social Security only can pay three fourths of its promised benefits 21 years from now.  This brings many to debate the role of Social Security in […]

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