Long-term care remains a topic that many people avoid or delay creating an action plan for because too many believe (or hope) that they will never need long-term care assistance. The reality is that 75% of people over age 65 will require some form of long-term care assistance in their lifetime.
Age in Place created a wonderful infographic highlighting the cost of long-term care and the realities of Medicare, Medicaid and private medical insurance. The fact that 72% of Americans become impoverished after only one year of nursing home care is a reality that many unknowingly face.
Long-term care is an issue that we all face, and it is better to talk about it now then wait until the need exists. Not only to help prepare for the cost of care but to also decide how you (or your loved ones) want to be cared for when you can no longer care for yourself.
Unfortunately, there is so much outdated or incorrect information being shared, which can make a difficult topic even harder. So if you have any questions about long-term care, please fill out the form below. I will be answering your questions this Friday.
Please Note: I may not be able to answer every question received and cannot give specific advice on your individual situation, only offer general guidance. I will do my best, however, to point you towards appropriate resources and give you plenty of food for thought, so you can create your long-term care action plan.
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SHANNON RYAN, CFP®
Thanks for sharing this infographic...very informative. I haven't thought about long-term care for me personally but I have discussed it with my family about our mom. She is eligible to receive long-term care but since she isn't comfortable with someone she doesn't know we each pitch in and help.
Thanks for sharing! Enjoy the rest of the week. It's going by quick, right?