Sorry for the geek overload in the title, but we have some important info to share regarding your financial health. May is National Disability Insurance Awareness Month (DIAM), and to "celebrate" the occasion, the Council for Disability Awareness has rolled out some helpful new tools to help you calculate your EIQ (Earnable Income Quotient).
It's pretty simple, really: you put in your age and income, when you want to retire, and the web-based calculator delivers the (good? bad?) news. It even has a helpful link to stats on how likely it is that an illness or injury could derail those plans.
Assuming you make it to retirement (Mazel Tov!), all those hard-earned dollars could still be at risk. Our friends at the Long Term Care insurance agency (no, really) sent along new research from Genworth's latest "Cost of Care" survey, and the news is decidedly downbeat.
For example:
■ Homemaker Services (Licensed): National median rate is $18/hour (up 1.39% from last year
■ Assisted Living Facility (One Bedroom – Single Occupancy): National median rate is $3,450/month (up over 4.5% from last year)
■ Nursing Home (Semi-Private Room): National median rate now at $207/day (up 3.3% from last year)
Ouch. Long Term Care insurance can help soften the blow, but only if it's in place.
So what are you waiting for?
It's pretty simple, really: you put in your age and income, when you want to retire, and the web-based calculator delivers the (good? bad?) news. It even has a helpful link to stats on how likely it is that an illness or injury could derail those plans.
Assuming you make it to retirement (Mazel Tov!), all those hard-earned dollars could still be at risk. Our friends at the Long Term Care insurance agency (no, really) sent along new research from Genworth's latest "Cost of Care" survey, and the news is decidedly downbeat.
For example:
■ Homemaker Services (Licensed): National median rate is $18/hour (up 1.39% from last year
■ Assisted Living Facility (One Bedroom – Single Occupancy): National median rate is $3,450/month (up over 4.5% from last year)
■ Nursing Home (Semi-Private Room): National median rate now at $207/day (up 3.3% from last year)
Ouch. Long Term Care insurance can help soften the blow, but only if it's in place.
So what are you waiting for?
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