Senator Warren is the queen of plans — about sixty at current count. However, she is not the only Democrat running for President who has plans for how to improve our lives. Mayor Pete has his Dignity and Security in Retirement. It is time to delve into this plan and see what he intends to offer if he becomes President.
I applaud Mr. Buttigieg for addressing this issue. People are living longer lives and our government is doing little to address the issue. No society has ever faced this many older individuals; thus, there is no guidance on how to care for so many elderly people. In recent legislation they allowed people to contribute to their IRAs past the retirement age and raised the age for the time people must take distributions from those IRAs from 70.5 years to 72 years of age. This is just a drizzle of activity when what we need is a flood.
Mayor Pete’s plan addresses two principal issues. One is Long-Term Care Insurance and the other is the cost and quality of care for seniors with limited abilities to care for themselves. I am familiar with both issues. I have advised clients to buy Long-Term Care insurance for over 30 years and personally have a… Read More