The rising cost of health care in the United States has become one of the primary risks to a financially secure retirement. With health care costs expected to continue increasing faster than inflation, the time to plan for your future health care needs is now—before you retire. Here’s what you need to know.
Fewer than one in three Americans have a living will detailing whether they want life-sustaining medical care if they are unable to communicate their medical treatment preferences. This means you could potentially be leaving legal problems for your family if they are unable to communicate your health-care wishes.
A very simple yet often overlooked strategy could have helped avoid the unfortunate end to the previously happy story. A buy/sell agreement is a legally binding clause in a partnership agreement that controls what happens to a small business if one of the partners dies or otherwise needs to leave the partnership.
Both of these students, are recipients of $7,500 scholarships from the LIFE Lessons Scholarship Program, which helps college-bound students who are experiencing financial difficulties due to a parent dying and leaving little or no life insurance. You can help them along by voting for who should receive the $15,000 Video Scholarship.
Millennials believe that financial literacy should be taught—either in high school or college or by parents. But even if you haven’t broached the subject yet, it’s not too late. Start with the resources available through the Next Generation website. The site offers a range of free resources focusing on five key areas—risk, life insurance, health insurance, disability insurance and financial planning—and includes quizzes, family activities, glossaries with terms and phrases related to insurance and financial planning and a video library.