Q Life Settlements Blog
April 5, 2020
Could Covid-19 Pandemic Upend Senior’s Retirement Plans?
A new study by economic professors Olivier Coibon of the University of Texas at Austin, Yuriy Gorodnichenko of the University of California at Berkeley, and finance professor Michael Weber of the University of Chicago’s Booth School of Business shows a troubling trend that they gleaned from a series of surveys conducted over January and April of this year. Alarmingly, the data shows a job loss rate perhaps much higher than thought, and the employment to population ratio has dropped a staggering 7%. What does this mean for senior retirement?
April 3, 2020
COVID-19 PSA: Five Things You Can Do
The World Health Organization and Google recently released a public service announcement listing five things we all can do to help stop the spread of coronavirus.
March 13, 2020
5 Costly (and Avoidable) Retirement Mistakes
The Federal Reserve Board reports that only 40% of Americans can cover an unexpected $400 expense, proving just how challenging saving has become for many Americans. Unfortunately, in terms of retirement, saving is the name of the game. See five mistakes that can be avoided!
February 28, 2020
Five Benefits of a Life Insurance Policy During Retirement
Entering into your retirement years is a time that many (if not all) people reassess their assets and financial plans in order to ensure our golden years are secure. All too often, during that review a life insurance policy starts to look more like a liability given the typical life changes (the family is grown, the mortgage is on track or even paid off) at this stage in life. This is especially true when the likelihood of increasing life insurance premiums and healthcare costs looming on the horizon are considered. But here are five compelling reasons to keep that life policy in-force, when possible:
February 15, 2020
Elder Abuse in America – The Numbers Are In
New data from the Department of Health and Human Services shows that in 2018 there were over 282,000 cases of elder abuse reported. Among the types of abuse reported were neglect (37,677 cases), financial exploitation (33,685 cases), emotional abuse (25,321 cases), physical abuse (20,406 cases), and “other” (17,606); but the largest category unfortunately was self-neglect which eclipsed the preceding five categories combined at 144,296 cases reported. This startling figure has been on the rise in recent years, and these were only the cases which were reported.
February 1, 2020
New Data Shows US Life Expectancy Increasing, Reversing a Troubling Trend
BuzzFeed News reports that data from the National Center for Health Statistics shows an increase in life expectancy to age 78.7 last year, the first increase in US life expectancy since 2014. Federal health officials believe the increase in life expectancy is a result of lower heart disease and cancer death rates, and a 4% decrease in drug overdose deaths. The latter is notable as it was the first time drug overdose deaths decreased in 28 years.
January 6, 2020
Senior Health Care In 2019: The Numbers Are In
With 2019 behind us, we have some new data at hand regarding health care for US retirees. While it isn’t all great, we did see one trend that will be good news to seniors.
Fidelity Investments’ report Health Care Price Check found that in 2019, a 65 year-old couple entering retirement can expect to cover $285,000 ($150,000 for women and $135,000 for men) in out of pocket medical expenses throughout their retirement years. The good news is that while it is an increase over the previous year (up 3.6%), it was a much smaller increase than that of 2015-2017 (up 12.2%).
December 21, 2019
2 Costs That Can Upend Retirement Planning
Even the best retirement plans can be overturned by unexpected out of pocket costs during our golden years. Two of the biggest problems that can arise are an unplanned long term care need of the retiree, and providing for the unplanned care needs of a loved one. Recent studies shine some light on these challenging areas, and the results are startling.
December 9, 2019
Debt Levels On The Rise For Many Retirees
A remarkable survey completed by the National Council on Aging (NCOA) shows a troubling trend for retirees’ finances. According to their study, there has been a nearly 45% increase from 1992 to 2016 in the number of households in debt which are headed by an adult age 65 and older. In 1992, the percentage was 41.5% and jumped to 60% in 2016.
November 25, 2019
Reverse Mortgages: 4 Reasons Another Option May Be Better
If you plan on someday moving closer to family or to a more desirable climate to enjoy your golden years, taking out a reverse mortgage on your current home may not be a great option. A reverse mortgage loan becomes due once the borrower moves or passes away, so taking out a loan when you may be in need of cash only to have the loan due as soon as you go to move could be a serious issue.