The cost of long term health care is probably one of the greatest sources of anxiety for most retired or wanting to retire individuals. The following is a link to the Genworth website where you can get an idea of current prices (by state) for in home health care, assisted living care and nursing home care. There are a few choices: 1. self insure, 2. partially insure by buying Long Term Care Insurance or 3. plan to spend whatever assets you have then go on Medicaid. Please know that Medicare which is the healthcare benefit that covers Americans 65 and older does not cover in home health care. So if your goal is to stay in your home for as long as possible, you should consider LTC Insurance. The optimal time to buy is in your 50's to early 60's. At a certain point, the cost of insurance becomes prohibitive. Check out this link:
http://www.genworth.com/content/products/long_term_care/long_term_care/state_maps.html
Wednesday, July 29, 2009
Monday, July 13, 2009
Higher Savings Rate
From a recent research article published by Vanguard:
The U.S. personal savings rate has taken an
about-turn, rising to 6.9% in May 2009, a level
not seen since 1993. Prior to last year, many
households had come to rely on asset growth
as a partial substitute for saving, based on
continued gains in the worth of their homes
and investment portfolios. But as the values of
both these assets dropped significantly during
the recent economic downturn, consumers
changed course, decreasing their spending
and boosting their savings.
The article goes on to describe how this about face in the savings rate has a negative affect on GDP growth in the short term.
The U.S. personal savings rate has taken an
about-turn, rising to 6.9% in May 2009, a level
not seen since 1993. Prior to last year, many
households had come to rely on asset growth
as a partial substitute for saving, based on
continued gains in the worth of their homes
and investment portfolios. But as the values of
both these assets dropped significantly during
the recent economic downturn, consumers
changed course, decreasing their spending
and boosting their savings.
The article goes on to describe how this about face in the savings rate has a negative affect on GDP growth in the short term.
Sunday, July 5, 2009
Mid Year Results Part 2
Some parts of the market seem to be having a good year specifically tech stocks as indicated by NASDAQ and Corporate High Yield bonds. Does this mean we can expect the market to extend the recent rally? Maybe, maybe not...but at least I can say, the overwhelming fear that paralyzed the market last Fall and in March has subsided. Perhaps markets are slowly returning to business as usual.
Mid Year Results
| Jun-09 | QTD | YTD | Description | |
| 0.0% | 15.2% | 1.8% | Large-cap stocks | |
| -0.6% | 11.0% | -3.8% | Large-cap stocks | |
| 3.4% | 20.0% | 16.4% | Large-cap tech stocks | |
| 1.1% | 16.3% | 11.5% | Large-cap growth stocks | |
| -0.7% | 16.7% | -2.9% | Large-cap value stocks | |
| 3.2% | 23.4% | 11.4% | Small-cap growth stocks | |
| -0.3% | 18.0% | -5.2% | Small-cap value stocks | |
| -0.5% | 25.8% | 8.4% | Europe, Australasia & Far East Index | |
| 0.6% | 2.2% | 1.9% | U.S. Government Bonds | |
| 2.9% | 23.1% | 30.4% | High Yield Corporate Bonds | |
| -1.8% | -2.9% | -4.5% | Managed Futures | |
| 0.0% | 0.0% | 0.2% | ||
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