Romeo Raabe
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As America Ages, Long-Term Care Costs Could Overwhelm Most Families

By Romeo Raabe | Aug 15, 2017

The number of Americans age 65 and older is on track to double — from 46 million now to over 98 million in 2060, when today’s 20-somethings will be turning 65. At that time the 65-plus age group’s share of the population will have jumped to 24-percent from 15-percent today.  One in four of us…

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Calculate What You Need To Set Aside For Long-Term Care

By Romeo Raabe | Aug 15, 2017

This graph below will let you calculate how much money you need to set aside today, to grow into enough money to fund your Long-Term Care (LTC) at an age when you may need help.  You can move the numbers on the left side around any way you want.  You choose how much money per…

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Who Will Pay For Your Funeral?

By Romeo Raabe | Aug 8, 2017

When Apple co-founder Steve Jobs passed away recently, he left behind a huge legacy – and a huge financial fortune too. Since Jobs was one of the richest men in America, his family undoubtedly had no problem paying for his funeral and putting Jobs to rest. Unfortunately, that’s not the case with many other Americans.…

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Wisconsin Faces Critical Shortage of Care Workers for Disabled & Elderly

By Romeo Raabe | Jul 25, 2017

MADISON – Jessica Nell relies on a stranger to help her get in and out of bed every day.  If no one shows up to help her, the 29-year-old Green Bay resident is left immobile — potentially for hours.  Nell, who has cerebral palsy and uses a motorized wheelchair, is one of thousands of Wisconsin residents who need…

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Don’t Ignore This Serious Retirement Threat

By Romeo Raabe | Jul 21, 2017

Quote: “Many older Americans have their heads in the sand regarding the potential threat posed by long-term care. They think somebody else will pay for it, but that’s usually not the case. Unfortunately, Medicare, Medicaid and medical insurance policies don’t cover most long-term care costs, and most people end up paying for care out of…

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Who Will Accept You For Care When You Need It?

By Romeo Raabe | Jul 18, 2017

Westchester Plaza, the largest assisted living facility in Texas that will accept Medicaid residents is closing their doors.  The problem is that Medicaid pays less than the cost to care for you.  If too many of the residents end up on Medicaid, they cannot afford to keep the doors open. Many people here in Wisconsin…

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Why Are People Buying LTC Insurance

By Romeo Raabe | Jul 11, 2017

It used to be just a way to prevent spending your entire life’s savings on Long-Term Care costs.  LTC insurance still does that, using just the interest on a bit of your savings to pay the premium versus spending the entire account on care. There is a much more compelling reason today.  Medicaid, a welfare…

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Annie’s Mailbox on Families Caring for Parents

By Romeo Raabe | Jun 23, 2017

Caregiver deserves a break Dear Annie:  I am 63, and I help daily with my 94-year-old mother, who lives by herself. I run errands, and I keep her yard nice.  I have a brother and sister who live out of state.  They come back to visit from time to time.  When they do visit, they…

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You’re Probably Going to Need Medicaid

By Romeo Raabe | Jun 16, 2017

The Opinion Pages | The New York Times OP-ED CONTRIBUTORS By DAVID GRABOWSKI, JONATHAN GRUBER and VINCENT MOR Imagine your mother needs to move into a nursing home. It’s going to cost her almost $100,000 a year. Very few people have private insurance to cover this. Your mother will most likely run out her savings until she qualifies for Medicaid. This…

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