As we live longer, the need to make our Money last becomes increasingly important.

In this insightful episode of Boomer Banter, host Wendy Green is joined by the esteemed Richard Eisenberg, an unretired freelance writer and former managing editor of Next Avenue, to tackle the intricate world of longevity planning.

We share practical advice for securing financial stability, and emphasize the need for “longevity literacy.” Whether you’re nearing Retirement, supporting adult children, or considering annuities and long-term care, this episode is packed with actionable insights and strategies for making your golden years financially secure.

Takeaways:

1. Importance of Preparation: Richard underscores the necessity of being well-prepared and informed about retirement planning. He advocates using retirement calculators or consulting financial advisors.
2. Supporting Family Financially: Wendy and Richard discuss the balance parents must strike when financially aiding their children for Education, housing, and other expenses, while also securing their own financial future.
3. Long-Term Care Insurance: Richard recommends the purchase of this insurance in one’s fifties or early sixties to avoid Medicare coverage gaps. In later years, you might explore hybrid long-term care insurance policies.
4. Balancing Enjoyment and Security: The conversation touches on balancing spending on enjoyable experiences, like vacations, with financial planning and longevity considerations, stressing the need for mindful spending and saving practices.

Links

Find Richard on his podcast, Friends Talk Money, or follow his columns in Money Watch, Fortune and Next Avenue.

Subscribe to Boomer Banter. Click on “Connect With Us” after you follow the link.

Follow the podcast, and please rate and review. This helps others find us

Sign up for the Great Global Giveaway on the Road Scholar site, and check out all their amazing trips.

This podcast uses the following third-party services for analysis:

Chartable – https://chartable.com/privacy
OP3 – https://op3.dev/privacy
Spotify Ad Analytics – https://www.spotify.com/us/legal/ad-analytics-privacy-policy/
Podtrac – https://analytics.podtrac.com/privacy-policy-gdrp

Most Recent Episodes

September 3, 2024

When Aging Well is Reaching its Finale: The Power of End-of-Life Discussions

Episode Overview:In today’s deeply thoughtful episode of Boomer Banter, host Wendy Green sits down with Catherine Marienau, a retired professor and an advocate for Compassion & Choices....

Listen · 44:04

August 27, 2024

How to turn Knowledge and Good Intentions into Lasting Lifestyle Changes

At your last physical, your doctor told you, "your blood pressure is too high," or "your A1C is too high," or "your cholesterol is too high." Then the doctor told you to cut back on sugar, salt,...

Listen · 46:30

August 20, 2024

Knowing How to Conquer the Healthcare Maze, is Crucial to Aging Well

In this episode our host, Wendy Green, and her guest, Nancy Ruffner delve into the intricate world of patient advocacy and elder care. We begin with a personal story about the sudden passing of our...

Listen · 43:58

Load More Episodes

Wendy Green Blogger, Podcaster

Hey, Boomer! goes beyond the surface, exploring the complexities of family relationships, maintaining health, navigating caregiving, coping with divorce or widowhood, financial concerns, housing and technology. It's the podcast that acknowledges the challenges and opportunities that come with aging, with a compassionate and realistic approach.

Join fellow Baby Boomers every week for insightful interviews and genuine discussions on the topics that matter most to help prepare us to age well.

Hosted by Wendy Green, her conversational style ensures every episode feels like a heartfelt chat between friends. Her guests range from experts to everyday individuals, bringing their wisdom and experiences to the table, creating an atmosphere of trust, understanding, and genuine connection