Jill on Money with Jill Schlesinger Navigating Single Life in My 50s
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Jul 30, 2025 Navigating life in your 50s brings unique financial challenges. The discussion centers on the complexities of long-term care insurance, especially for single women. Listeners explore retirement readiness, including pensions and savings strategies, while considering future expenses. Insights into managing long-term care and retirement funding shed light on essential planning aspects. The podcast emphasizes making informed financial decisions amid evolving job markets and career transitions.
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Challenges of Long-term Care Insurance
- Long-term care insurance is expensive and many companies exited the market due to mispricing risk.
- Women often face longer and more costly care needs, making long-term care a critical issue.
Assess Need Before Buying Insurance
- Evaluate your financial situation to decide if long-term care insurance is necessary.
- Consider your income, savings, health, and living arrangements before buying coverage.
Pension and Savings Cover Future Needs
- Even with rising inflation, a pension and social security can cover future living expenses.
- Saving and investing consistently can compound assets to a substantial retirement fund.