On top of your regular finances in the later years (pension,
401k, social security, etc.), it is wise of you to consider other ways to help
mitigate costs in retirement. Here are some things we recommend frequently to
help with just this:
- Schedule an appointment with your insurance agent to update policies every year. At this point in life the needs of your care will change over time, and your insurance coverage will likely need amending to accommodate that. Always make sure you have the best coverage for your needs and medication, your plan should feel yours.
- If you or your spouse is a United States Veteran and either of you require daily assistance with medications or self-care, you may be eligible for a monthly Veteran’s pension to augment your Social Security or other pension income.
- Consider long-term care policies. If you already have it, read the fine print. These products have changed over the years so review your coverage to make sure you understand what it does and does not cover.
- Seek out a trusted third-party specialist to help navigate these things. There is a community of professionals that want to help you.
