One of the biggest hurdles to preparing for this level of elder care is simply knowing how to get started. How do you plan for the unknown? How do you have the difficult conversations?
If you have parents that are getting up there in their years, preparing and making decisions on their care before a crisis happens is the best-case scenario. Preparing now should be a part of every financial plan.
The most basic forms of financial planning are nearly worthless: because they are based on overly simplistic assumptions of a linear path in life and money that are simply unfounded. Find the countermeasures you can take.
The cost of long-term care can wreak havoc on your financial security, eroding away years of accumulated wealth. You should consider a well-structured LTC policy which can pay for itself many times over in costs and peace of mind.
If you are in your 40s 50s or 60s, securing your future with Long-Term Care Insurance can be a great way to mitigate risks and bring peace of mind to your family. Watch our recent webinar to see if LTCi is right for you.
When it comes to retirement planning there are few pieces of advice more universally accepted than “save as much as possible as early as possible.” Certainly, taking such action is often one of the best ways to grow your retirement savings, but there are exceptions to the rule.