“How do I know if I have enough?”
As an Elder Law attorney who’s been practicing for 33 years, I hear this question every day.
Just look around you…in Publix, in Home Depot, in Wal-Mart, in restaurants, in movie theaters, in consulting businesses, in insurance, even in the medical profession. I’m not sure it’s entirely accurate to talk about the “graying” of the workforce anymore; it’s becoming more like the “whiting” of the workforce.
We’re not retiring at 65 with gold watches, like our parents did. Many of us are now working into our seventies, and even into our eighties. And many of us are planning on working until we can’t.
The reasons, of course, are well-known. The recession, the housing crash, “workforce adjustments,” etc., etc. And the fact that, as a result, most of us have lost the financial bedrock on which we were counting.
Combine the economic disruption with the fact that we’re now living longer than ever – and, of course, will require more money to get us through our longer lives – and you’ve got the perfect storm.
According to the U.S. Census Bureau, Broward County women have almost doubled their rate of working past 65. And Palm Beach County women have more than doubled their percentages. About 25% of South Florida men 65 and older are working…or looking for work. In fact, the U.S. Bureau of Labor Statistics says the number of working Americans 65 and older has jumped 69 percent in just a decade.
And “younger” folks – middle-aged or even younger – are now living in fear that Social Security and Medicare won’t be around when they retire.
At The Law Offices of Alice Reiter Feld & Associates, our clients ask us every day: How much is enough? And how will this affect my eligibility for Medicaid and other programs?
We know the answers – because we practice Elder Law. And we help our clients with comprehensive estate planning, wills, trusts, powers of attorney, long-term care planning, asset-protection plans, and assistance with Medicaid and the VA.
We can tell you how much is enough. And we’re just a phone call away.