Pearson says that state examiners-at least in Virginia-are easier to work with and are more helpful in correcting deficiencies than SEC examiners, who he believes take more of a guilty-till-proved-innocent approach.
Staying Healthy May Cost You In Retirement
(Dow Jones) Keeping healthy and fit when you retire should result in lower health-care costs, right? A new report says it's not so.
While it's true that the annual health-care costs of healthy retirees are lower than those in poor health--$6,500 versus $8,000 for those ages 65 to 69--the healthy face higher lifetime health-care costs, according to a report this week from Boston College's Center of Retirement Research.
Over a lifetime, healthy retirees may pay as much as $105,000 more than those in poor health, according to the report, which was sponsored by Prudential Financial.
Why is that?
"First, those in good health can expect to live significantly longer," the report said. "At age 80, people in healthy households have a remaining life expectancy that is 29% longer than people in unhealthy households, and therefore are at risk of incurring health-care costs over more years."
Second, the report said many of those currently free of chronic diseases will succumb to them. In running a simulation, Boston College found that individuals who are free of any chronic diseases at age 80 can expect to spend one-third of their remaining life suffering from one or more of them.
Third, the report said people in healthy households face a higher lifetime risk of requiring nursing-home care than those who are unhealthy. That reflects their greater risk of surviving to advanced old age, when the need for such care is highest.
Also, those who are healthy now but delay buying Medigap or long-term-care insurance could face higher premiums later on, according to Malcolm
Cheung, a vice president in Prudential's long-term-care division.
So, what to do with this information?
"It sounds like we are all 'damned if we do, damned if we don't,'" said Chris Cooper, a certified financial planner and president of Chris Cooper & Company Inc. and ElderCare Advocates Inc.