Navigating the labyrinth of Social Security and Medicare can feel overwhelming, but you are in the right place. This blog post aims to make it easier for you by outlining essential eligibility criteria, options for early or late retirement, and the expected 2024 Social Security cost of living Adjustment (COLA). How to Qualify for Social Security: A Primer First things first, you need to know the basics of Social Security eligibility. In a nutshell, you need to accumulate 40 credits to qualify … [Read more...] about What You Can Expect From Social Security and Medicare for 2024
The number of older Americans has grown significantly in recent years and experts tell us it will more than double from the current 46 million to over 98 million by 2060. Given the fact that we are already struggling to provide care to the number of elderly individuals that need it now, concerns about who will care for the elderly in the future seem warranted. One idea that appears to be gaining momentum is robot caregivers. Yes, even the field of healthcare is taking advantage of the leaps in … [Read more...] about How Would You Feel about a Robot Caregiver in the Future?
Elder law is one of the newest specialty areas of the law that has emerged in recent years. Although elder law is a relatively new area of law, it is fast becoming a much sought after and necessary area of the law. The reason for this is due, in large part, to the exploding elderly population in the United States. As the Baby Boomers move into their retirement years, the sheer number of older Americans has created a need for attorneys who specialize in legal issues that impact the elderly. … [Read more...] about Why Would I Need an Elder Law Attorney?
Most of our adult life is spent focusing on the work we need to do to provide a life for ourselves and our families. All too often, though, that’s all we end up doing. Too few of us either don’t have to opportunity to prepare for a sound retirement, or we just fail to take the steps needed to address those future needs. Experts suggest that more than half of all American adults have less than $10,000 in retirement funds available right now. When it comes to New Jersey retirement concerns, … [Read more...] about New Jersey Retirement: Is Your Planning Complete?
Unfortunately, nursing home costs are a major challenge for most seniors – and not just due to a lack of proper planning. Those costs have risen dramatically for many years now, and are now at levels so high that only a small fraction of seniors can manage them on their own. For most seniors, the options are much more limited. Some exhaust their savings and turn to family for assistance. Others rely on a combination of retirement income and long-term care insurance proceeds. Many others must … [Read more...] about Learn How Your Medicaid Attorney Can Help with Long-Term Care Costs
Does Medicaid count assets you've included in a living trust? Our attorney explains what you need to know to make decisions for your future. The Medicaid program is a health insurance program that is run by the government. It is administered by the federal government in conjunction with each state government. You may be aware of the fact that Medicaid is only available to financially needy individuals. If you have worked throughout your life, you may well have health insurance through … [Read more...] about Does Medicaid Count Assets in a Living Trust?
The Medicaid program is a health insurance program. It is jointly administered by the federal government along with the New Jersey state government. It is a program that is in place to provide health insurance for people who have very limited financial resources. You may wonder why you would ever want to be able to qualify for Medicaid in New Jersey if you have resources and you are going to qualify for Medicare when you reach the age of 65. The reason why Medicaid is relevant is because it … [Read more...] about How to Qualify for Medicaid in New Jersey
You have to develop a practical strategy for aging if you want to be fully prepared for the future. It may be easy to understand the fact financial planning is important as you look ahead toward the different stages of life, but the latter portion can sometimes be misunderstood. As you start to see your retirement years come into focus, you may look forward to crossing things off of your bucket list as you enjoy yourself and spend quality time with your loved ones. Making sure that you have … [Read more...] about Medicaid Planning Can Keep Assets in the Family
They say that time marches on, and it stands still for no one. When you are a child, this is hard to wrap your head around, because time seems to move very slowly as you look forward to getting older. However, at some point in time, you see how true these statements actually are. If you are a parent in your own right, you watch your children as they start to come into their own as young adults. On the other end of the spectrum, you may also see that your parents are getting up there in years. … [Read more...] about Nursing Home Asset Protection: Advise Your Aging Parents
When you work and you examine your pay statement, you invariably see this pesky FICA deduction. It can seem like money going out the window, but you do get something in return for your contributions if you are fortunate enough to attain senior citizen status. You earn retirement credits when you pay this tax. It is possible to earn up to four credits in a year, and once you have accumulated 40 credits, you will qualify for Medicare and Social Security as a senior citizen. Accumulating the … [Read more...] about New Jersey Medicaid Planning for Married Couples