Long-Term Care: Better to be Safe Than Sorry

As you enter your “golden years,” perhaps you imagine yourself traveling, visiting grandchildren, or pursuing a favorite hobby. Unfortunately, none of us can predict what the future may bring. But, according to the U.S. Department of Health and Human Services, more than 70% of individuals over the age of 65 will ultimately require some form of long-term care (LTC). LTC refers to a wide range of medical, rehabilitation, personal care, and social services, whether in a nursing home, assisted living facility, or at home, for those who need assistance due to an illness or disability. If you should need LTC at some point, your world could change significantly, affecting not only your quality of life, but your finances, as well. For example, the national average cost of a semi-private room in a nursing home is more than $200 per day, which may be higher or lower in certain parts of …

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Employees Want Managers Who Are Approachable and Transparent

The quality of the manager-employee relationship has a large impact on job satisfaction and retention, with employees saying they place considerable value on working with managers who are approachable, transparent, and honest, according to the findings of a survey conducted by human capital management solutions provider Ultimate Software. The results of the survey of more than 2,000 U.S. employees and managers, which were released on December 4, 2017, revealed that there are complex differences in perception and experience between managers and the people they manage. Of the employees surveyed, 93% said that trust in their direct boss is essential to staying satisfied at work, and more than half indicated that if they aren’t satisfied at work, they can’t put forth their best effort. The findings further suggested that a good manager-employee relationship can play a significant role in retention, with more than half of the employees saying they would turn …

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Retirement Readiness Shows Signs of Waning

While the retirement systems in the United States, the United Kingdom, and Australia differ in important ways, all are falling short to varying degrees in ensuring that workers in those countries are adequately preparing for retirement, according to an article published by human resources consultancy Findley Davies in its November/December 2017 newsletter. Retirement Readiness The article, “Retirement Readiness—How Do We Compare?” was written by Ken Hohman, an actuary and management consultant. Hohman presented a comparison of the retirement systems in these three countries based on his involvement on behalf of the American Academy of Actuaries with a project in collaboration with the Actuaries Institute in Australia and the Institute and Faculty of Actuaries in the UK. Hohman observed that Australia, the UK, and the U.S. have similar but significantly different retirement systems. Specifically, he explained, each country has a national social security system that is weighted in favor of lower-income …

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