5 Ways to Match Baby Boomers with their Future Needs

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There is an estimated

78 million baby boomers that have or will reach the age of retirement in the next few decades. In fact there is one person reaching the age of 65 every 10 seconds, so this begs the question, what do baby boomers need to do in advance of reaching retirement age?

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In a society where healthcare costs are rising and the cost of living is increasing, it’s crucial to be prepared long before you may think it is necessary.

Here is a list of five tips that baby boomers should consider:

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Investing in annuities is a great way to provide supplemental income in addition to social security. Since social security is a hotly debated topic, it’s smart to divest your interests in other forms of income when you reach the age of retirement. Baby boomers can invest in annuities in either one lump sum or in a series of payments.

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11 Purchase Annuities

Long-term care services are typically not covered by traditional health insurance. This type of insurance can include coverage for in-home care and other types of coverage that might be helpful as you age.

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22 Purchase Long-Term Care Insurance

At BrightStar Care®, we offer skilled and non-skilled homecare services for all ages. You can have access to person-centered in-home companion, personal, or skilled care when needed during any stage of life all in the comfort of your own home.

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33 Research Home Healthcare Services

Although Medicare covers most healthcare expenses once you reach

the age of 65, there are certain provisions that might not be covered. Having a supplemental insurance can reduce or eliminate all additional costs that could be associated with your health insurance coverage.

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44 Purchase a Medicare Supplement

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55 Start Your Healthy Habits now

Statistics indicate that by the age of 65, two-thirds of all baby boomers have at least one chronic disease and have seen on average seven

physicians. Start creating healthy habits now to reduce costs and improve your health in the future. Increasing your physical activity and managing what you ingest, can make a huge difference in your health down the road.

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