Protect Your Parents

“How will I cover my health care and other expenses in retirement? What if my health steadily declines as I age? Who will take care of me?’


For most, these are just questions that pop into our heads but nothing is ever done about it. There is a sort of anxiety when going into retirement because you never know what’s going to happen next. Imagine having to pay for your health care without Medicare meaning you’re paying for your care out-of-pocket.


Now imagine a more severe health related event, things that never get better, and the ongoing costs behind them. If you can’t imagine this then keep reading to get a little reality.


In retirement we no longer work for a “paycheck” because we should have saved enough throughout our working lives to cover our living expenses and lifestyles. You work half of your life to fund the last quarter of your life. The day you have to rely on turning your assets into income to pay for these things is the day this anxiety starts to creep in because you know that the questions above were never answered and planned for. You know that this is a huge risk and it’s right around the corner.


In retirement there are 18 risks we face, Long-Term Care being one of the biggest risks of them of all. But what is Long-Term Care(LTC)?


Basically, if you can’t care for yourself anymore physically and/or cognitively then you need some sort of care. The inability to complete the Activities of Daily Living (ALDs) or any cognitive disorder that requires adult supervision. These events, if left unplanned for, ALWAYS come with emotional, physical, and financial consequences.


Physical Impairments:

Activities of Daily Living(ADLs)

  • Transferring
  • Toileting
  • Bathing
  • Dressing
  • Feeding
  • Continence


Not being able to do a combination of any of these 2 would justify one needing help to care for themselves.


Cognitive Impairments:

Alzheimer’s and Dementia are the most common cognitive disorders. These 100% require adult supervision and help to maintain a safe environment for you.


Most individuals that receive care prefer that they be in the comfort of their own home. I bet you thought his was going to be about nursing homes. While nursing homes are an option (the most expensive option), we want to make sure that if you have the option and power to remain in your home if you wanted to.


Long-Term Care Insurance and Long -Term Care Planning are designed to help pay for any expenses related to your care and safety. Whether you require skilled care from a licensed professional or custodial care from family and friends you remain in control. This means that aging in place is always an option for your aging loved ones.


Click here to learn about how much it would cost to get care for your loved ones.