Investment management firm T. Rowe Price is offering a new guide designed to help retirees and soon-to-be retirees navigate the complexities and opportunities of the later stages of retirement.
The resource, “Planning for Life and Long-term Care in The Second Half of Retirement: A Comprehensive Guide,” also examines the financial implications of long-term care and how they can be incorporated into an overall retirement plan.
T. Rowe Price also has released a new episode of its podcast series, “Confident Conversations on Retirement,” featuring insights from the guide and co-author Lindsey Theodore.
“This comprehensive planning guide reflects T. Rowe Price’s commitment to providing retirees with the tools and knowledge to make informed decisions about their future,” said Theodore, CFP, Senior Thought Leadership Manager at T. Rowe Price. “We aim to offer clarity and confidence as retirees plan for potential life and long-term care needs.”
Personal: The guide provides detailed information on housing and support options available to older individuals, and the costs of each.
Financial: T. Rowe Price’s proprietary analysis allows retirees to estimate LTC costs. The analysis considers an individual’s housing and care preferences, health and family medical history, and the LTC expenses experienced by other retirees.
Planning: The guide provides information about products — including insurance — that can ease potential pressure on income and assets. It offers potential strategies to reduce risk within a self-funding plan and provides an analysis that compares long-term care insurance to self-funding. The analysis projects the assets remaining at the end of life and how having insurance can improve the chances of a plan’s success, compared with relying on self-funding alone.
“The second half of retirement is often filled with unique challenges which require thoughtful preparation and a clear understanding of the risks and planning options available,” Theodore said. “We are committed to providing actionable information through resources such as the guide and the podcast episode, as well as personalized guidance and one-on-one support through our Retirement Advisory Service. Our goal is to ensure that individuals feel empowered and prepared at every stage of their retirement journey.”
