Are you facing challenges with aging family members? Are you having trouble getting clear, practical and useful answers? Steve interviews elder issues expert and gerontologist Susan Geffen about everything from elder abuse to reverse mortgages, from long-term care to Alzheimer’s.
Also, are you frustrated with your financial situation? Do you wonder where your money went at the end of the month and why others are getting ahead when you are not? Steve talks about the basics of getting out of debt, getting the most out of your money and how to set yourself up for personal financial success.
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#1 Not wanting to be a burden to our children, our spouse, or relatives.
Love is shown in many ways. One of the best ways to show it is by making sure that the financial and physical burden of being cared for does not fall on our loved ones.
#2 Access to Quality Care
The cost of being cared for is extremely expensive. Unless you have huge cash reserves, long term care insurance is the only realistic way of paying for care without going broke and ending up in a nursing home.
Remember. After the age of 60, there is a 70% likelihood that you will need long term care.
#3 Aversion to Welfare
Most of us have worked hard all of our lives and expect to remain in our homes when we get older. Unfortunately, for millions of Americans, the government is now their caretaker because the high cost of health care has depleted their assets.
#4 Asset Protection
It is sad how many people lose everything they have worked for when they get older and need long term care. Many people still think the government will take care of them, but they don’t realize that it will probably be in a nursing home and they will have had to spend their entire life savings to get to a place they don’t want to be.
#5 Control and Independence
There are many important decisions that have to be made about our living space and healthcare as we grow older. If you are like me, you want to remain in your own home. Long term care insurance can help insure that you have many favorable options available to you, including assisted living and in home care.
#6 Peace of Mind
For those who have already purchased a long term care policy from a reputable company, they would tell you that it is a huge relief to know that they have this important coverage.
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“You could easily become poverty stricken and destitute if you don’t have Long Term Care Insurance policy, or rich children, or a gazillion dollars in the bank!”
Long Term Care Insurance is not a luxury or for the rich. It is a necessity that you should not ignore.
For years, Americans have believed that Medicare would take care of them when they get older, but that just isn’t true. Nursing homes are home to over 8,000,000 Americans, and that number is going to double in the next 10 years! Continue reading Report: How To NOT Be A Burden On Your Children
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If you are taking care of your kids and your parents, you are a proud (or maybe not proud) member of the sandwich generation, so good luck!
We didn’t grow up thinking it would be this way. We figured we’d have kids and our parents would fend for themselves. At least that is the way it was always presented to us on TV and other forms of the media.
Continue reading Are you a member of the sandwich generation?
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