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With the cost of long-term care (LTC) increasing year over year, considering how the costs of long-term LTC will impact your financial plan is essential. According to insurance company Genworth, the price of LTC services increased substantially in 2021 for specific settings due to the supply of professional labor and the growing aging society. Other findings from Genworth's 2021 Cost of Care Survey include: Assisted living facility rates increased by 4.65% to an annual national median c

One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion, which might be a substantial tax bill. However, if assets in your traditional IRA have lost value, you will pay taxes on a lower asset base when you convert. If all conditions are met, the Roth account will incur no further income tax liability for you or your designated beneficiaries,

Homebuyers braving the hot U.S. housing market have run headlong into a striking transition. The average interest rate for a 30-year fixed mortgage jumped from around 3.2% at the beginning of 2022 to 5.3% in mid-May, the highest level since 2009. This rise was sparked by the Federal Reserve's commitment to raise the federal funds rate — a key benchmark for short-term interest rates — to help control the highest inflation in decades.1Although mortgage rates are not directly tied t