New guide offers data-driven analysis and
actionable guidance for the second half of retirement
BALTIMORE, Jan. 7, 2025
/PRNewswire/ -- T. Rowe Price, a
global investment management firm and a leader in retirement,
announced today a new resource for retirees, "Planning for Life and
Long-term Care in The Second Half of Retirement: A Comprehensive
Guide." The guide is designed to help retirees and soon-to-be
retirees navigate the complexities and opportunities of the later
stages of retirement and explores how the financial implications of
long-term care (LTC) can be incorporated into their overall
retirement plan.
T. Rowe Price has also dedicated
a new episode of its podcast series, 'CONFIDENT
CONVERSATIONS® on Retirement' to the LTC guide,
featuring key insights from the piece as well as expertise from
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," says Lindsay 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."
According to a recent study by the firm, large, out-of-pocket
healthcare expenses, such as LTC, ranked among the most common
concerns reported by retirees, just behind inflation and the
economy. With this in mind, the guide focuses on three important
factors to maximize LTC resources:
The Personal: The guide begins by
offering detailed information about the various housing and support
options available to aging individuals, along with the costs
associated with each option.
The Financial: Retirees can then estimate
LTC costs using T. Rowe Price's
proprietary analysis, which considers their housing and care
preferences, health and family medical history, and the actual LTC
expenses incurred by other retirees.
The Planning: The guide then provides
objective information about available products, including
insurance, that can help alleviate potential pressure on income and
assets. It suggests strategies to mitigate risk within a
self-funding plan and provides a proprietary analysis comparing
long-term care insurance to self-funding. The analysis focuses on
the assets remaining at the end of life and how having insurance
can enhance the likelihood of a plan's success, compared to relying
solely on self-funding.
Theodore continued, "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. 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.
ABOUT T. ROWE
PRICE
Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals
and institutions around the world achieve their long-term
investment goals. As a large global asset management company known
for investment excellence, retirement leadership, and independent
proprietary research, the firm is built on a culture of integrity
that puts client interests first. Clients rely on the award-winning
firm for its retirement expertise and active management of equity,
fixed income, alternatives, and multi-asset investment
capabilities. T. Rowe Price serves
millions of clients globally and manages U.S. $1.67 trillion in assets under management as of
November 30, 2024. About two-thirds
of the assets under management are retirement-related. News and
other updates can be found on Facebook,
Instagram, LinkedIn, X, YouTube,
and troweprice.com/newsroom.
IMPORTANT INFORMATION
The T. Rowe Price Retirement
Advisory Service™ is a nondiscretionary financial planning and
retirement income planning service and a discretionary managed
account program provided by T. Rowe Price Advisory Services, Inc.,
a registered investment adviser under the Investment Advisers Act
of 1940. Brokerage accounts for the Retirement Advisory Service are
provided by T. Rowe Price Investment Services, Inc., member
FINRA/SIPC, and are carried by Pershing LLC, a BNY Mellon company,
member NYSE/FINRA/SIPC, which acts as a clearing broker for T. Rowe
Price Investment Services, Inc. T. Rowe Price Advisory Services,
Inc. and T. Rowe Price Investment Services, Inc. are affiliated
companies.
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SOURCE T. Rowe Price Group, Inc.