Don’t Criticize Good Ideas to Ensure Retirement Security!
InvestmentNews labeled Sen. Pat Toomey’s proposal to allow American consumers limited access to retirement savings to cover long-term care as one (among other) “ideas to raid retirement savings.” I don’t see it that way. Long-term care insurance covers caregiving costs due to an inability to perform activities of daily living or cognitive loss. Most Americans who experience such a loss first need care during their golden years. Without long-term care coverage, the cost of that care can wipe out a lifetime of retirement savings in short order. Long-term care insurance provides funds for caregiving that typically aren’t covered by Medicaid … Continue reading "Don’t Criticize Good Ideas to Ensure Retirement Security!"