Saltar al contenido principal
logo

2014 Conference

del 9 al 11 de April del 2014

Intercontinental, Milwaukee, WI

This search tool will help you determine when you are presenting. Please look yourself up by name, or by the Lead Author name.

Long Term Legacy: Long Term Care Insurance and Bequest Expectations among Older Americans

jueves, el 10 de abril de 2014 a las 10:15–11:45 CDT
Lobby Salon
Short Abstract

 

With prolific advances in health care and medicine, individuals can expect to live upwards of thirty years into retirement.  Saving for retirement can be challenging as the "golden years" materialize into the most expensive period of life due to the costs of living and deteriorating health in old age.  Savings accumulated to enjoy and maintain one's health in retirement can be at odds with the commonly reported desire to leave behind a financial legacy.  Various social policies and financial strategies have been created to assist with the potential need for assisted living, including long term care insurance (LTCi).  Data from the 2010 Health and Retirement Study was used to assess the relationships between longevity, health, net worth, LTCi ownership, and expectation to leave a bequest.  The results indicate that the average financial plans are rarely expected to keep pace with the varied and often prolonged health and longevity demands on those resources.  Though many segments of older Americans desired to leave a bequest of $100,000 or more, and many reported several barriers to doing so, and few were using LTCi to ensure the longevity of retirement resources.  Recommendations for retirees, families, financial educators, and policy makers are discussed.

First & Corresponding Author

Charles Ryan Dunn, crdunn@aggiemail.usu.edu

Add'l Authors In The Order To Be Printed

Yoon Lee, PhD, Utah State University
Cargando…