NOW is the Time for Long Term Planning
We won’t admit it but NOW is the time to start planning for our long term care needs. Planning ahead is important because many of the people turning age 65 can expect to use some form of long-term care during their lives. And, most likely the older you get the greater the chance you will need long term care.
Why is planning ahead for long term care so important? Consider the following:
- not relying on children or family with care giving responsibilities
- protecting your retirement assets
- ensuring that critical choices remain yours
It’s important to plan ahead because the cost of services often exceeds what you can afford to pay from your income and other investments. With planning, there is a greater likelihood that you will be able to leave an estate to your heirs, because you are less likely to use up your nest egg.
With long term care planning you are helping to reduce the emotional and financial stress on you and your family. It gives you and your family peace of mind.
Most important, you want to stay in your home.
If you will need care, planning will help ensure your greater independence should you need care. Your choices for receiving care outside of a nursing facility and being able to stay at home or receive community-based services are greater if you plan ahead.
There are a number of reasons many people don’t plan ahead. Maybe you think, that even as you age, you won’t be dependent on others or need assistance. Or, maybe you think you have time to buy long term care insurance. Keep in mind, the older you get the more expensive long term care insurance becomes.
Whatever your reason, give us a call and let’s discuss your options.