Medicare expenditures rose much faster than overall health-care spending in 2011, the government reports.
Lying to yourself—it sounds so harsh when you put it that way. The more gentle way to frame the question is: “Do you tell yourself reassuring things, things that probably aren’t entirely true, so that you can live with the financial decisions and compromises you’re making?” That’s a little less blunt, but, when you think about it, no less unsettling.
I believe I’m a pretty good driver (although I’m also aware that, in perhaps the world’s most often-cited example of the Lake Wobegon Effect, most Americans feel the same way). I’m also reasonably sure that I won’t be as good a driver twenty-five years from now, when I’ll be in my late sixties and my senses and reflexes are likely to be considerably less sharp.
Without much fanfare, the Senate Special Committee on Aging released a report earlier this month on the subject of how the U.S. is progressing in caring for older adults diagnosed with Alzheimer’s disease and dementia. The committee compared health-care infrastructure with that of Japan, Australia, France and the United Kingdom – countries chosen because they have demographics and economies similar to ours.
The report found that these countries were all ahead of us on the Alzheimer’s care front. But as Judith Graham points out in a sharply observed piece today on the New Old Age blog, the study also unearthed statistics that suggest that long-term care for America’s elderly in general is lagging behind the rest of the world’s standards.
A study shows tensions over paying for entitlements–but also some respect-your-elders sentiment.
In a day and age when fewer and fewer people have a pension and many people don’t have a lot socked away for retirement, it’s becoming increasingly critical that you calculate the best time and strategy for you and (if you have one) your spouse to take Social Security.
So my wish for you is this: Get the timing right.
Once your nest egg has reached your mental “magic number” — $500,000? $1 million? $5 million? – it’s tempting to start to fantasize about an early retirement. Before you do, you may want to test-drive MarketWatch’s “How Long Will My Money Last?” calculator.
The auto industry would love to make driving easier for older motorists — without using the word ‘older,’ of course.