Many seniors are stuck with lives of never-ending work — a fate that could befall millions in the coming decades.
More and more older people are finding themselves in a similar situation as Baby Boomers reach retirement age without enough savings and as housing costs and medical expenses rise; for instance, a woman in her 80’s is paying on average $8,400 in out-of-pocket medical expenses each year, even if she’s covered by Medicare.
Michael Monteforte, Jr. is the founding attorney of Monteforte Law, P.C., an estate planning and elder law firm in Woburn, Massachusetts. He was admitted to the Supreme Judicial Court of Massachusetts in January 2002 and to federal practice in the U.S. District Court, District of Massachusetts, in March 2006. He has practiced estate planning and elder law in Massachusetts for over twenty years.
