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Prepare for your aging years to reduce the expense and burden of long-term care on your loved ones.
You want to live out the last days of your life as comfortably and with as much dignity as possible. Whether you prefer home health care or living in a nursing home, preparation can reduce the expense and burden of long-term care on your loved ones.
What are you talking about? This type of care requires assistance with activities of daily living (ADL) or a severe cognitive impairment.
Did You Know - Facts & Figures
Source: https://acl.gov/ltc/basic-needs/how-much-care-will-you-need. Last modified: 02/18/2020
Source: 2021 Alzheimer’s Disease Facts and Figures. Alzheimer’s Association.https://www.alz.org/media/Documents/alzheimers-facts-and-figures.pdf. Published 2021.
Resources: 1“How Much Care Will You Need?” LongTermCare.gov. U.S. Department of Health and Human Services. https://longtermcare.acl.gov/the-basics/howmuch-care-will-you-need.html. Last modified 10/15/2020. 2Alzheimer’s Association. 2020 Alzheimer’s Disease Facts and Figures. Alzheimer’s Dement 2020;16(3):391+.Association. https://www.alz.org/media/Documents/alzheimers-facts-and-figures.pdf
After all that was mentioned above we should be left motivated in how to appropriately address this potential event.
If we think hard enough, we will realize this event is a potential lack of income problem to pay for this much higher unexpected expense. To fully understand the dilemma you may be facing. We need to understand the potential total cost.
Step 1: Click to discover and compare Long-term costs from state to state. But pay close attention to the potential future increase in these services.
Step 2: Understand how these services can be paid for. There are three main ways to plan for these potential extreme event.
Which is right for you? It just depends since everyone's financial situation today.
Step 3: If confused, not sure and want professional guidance, consult with one of our professionals create your long-term care income plan that goes hand in hand with your retirement income plan. These two areas are one in the same. Learn how to make financial decisions today that can help support your loved ones emotionally and financially outcomes in the future.
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