When you think of TV Dad’s most of us remember Sheriff Andy Taylor. I don’t think Opie was discussing with Andy the need for Long Term Care planning but that doesn’t mean that conversation should not happen with your family.
If your Dad is very old the discussion may be different. But if Dad is 40-70 there is time to safeguard retirement savings from the high costs of Long Term Health Care. Sure, Dad might say, “It won’t happen to me”. Maybe he would say, “Just shoot me if I ever get that way”. Perhaps he will tell you how healthy he is and not to worry.
It has nothing to do with worry. You don’t start planning for retirement when you are 60. You plan ahead, contribute money in your 401(k), 403(b) and IRA. You hope by planning and doing the right thing you will have enough money to enjoy retirement. So why do many Dad’s ignore LTC?
Maybe they think Mom will take care of him. Really. Just fast forward. Do you really think a much older Mom would be able to be a good caregiver and not impact her health or your Dad’s health?
This type of burden doesn’t work well for anyone. First, let’s talk the first objection that it won’t happen. The advances in medical science allow all of us to live longer. Things that used to kill us no longer do. The fact is the US Department of Health and Human Services says if you reach the age of 65 you have a 75% chance of needing some type of LTC service. The question is less an IF and more a WHEN and HOW LONG. Dad is not superman.
The second objection … “Just Shoot Me”. There are many versions of this conversation and they are all bunk. Two things to keep in mind. First, just because you need extended health care doesn’t mean you will not have a life. Sure, some people have memory loss or are very disabled. However there are many other things that cause extended care that will still allow you to enjoy a life and be involved with loved ones. Second, do you really want a loved one to have to deal with even the request of ‘knocking you off’? Nope, that is not an answer.
Mom, or any family member, being a full time caregiver only creates hardship on the caregiver. Being a caregiver is hard. Being a good caregiver is even harder. Being a family caregiver is tougher because of emotion. The physical, emotional and financial burdens that come with being a caregiver is a huge burden. Not a very good plan.
The financial costs and burdens of aging will have an impact on your loved ones. Affordable Long Term Care Insurance will address these concerns, protect assets and leave family to be family.
So if you are ‘Dad” or “Son”, maybe both … the spouse the adult child … it doesn’t matter. The conversation should take place. The answer is so easy and affordable.
You are not too young … and hopefully you are not too old to plan for LTC. If you have money in your 401K or IRA and have people you love then the time to have the conversation is now.
Get your free quotes and learn your options. For FREE QUOTES: www.quoteonltc.com
Visit the Matt McCann website for information on LTC Planning: http://mccannltc.net/
LTC Planning News is an outstanding resource I use for articles, links, videos and more on LTC Planning: http://longtermcareplanningnews.com/
The US Department of Health & Human Services LTC site: http://longtermcare.gov/
The American Association for Long Term Care Insurance (AALTCI): www.aaltci.org
Don’t just let things happen and place the burden of caregiving on your spouse or adult children. That doesn’t work. Nor should you risk your hard earned assets. LTC insurance is affordable and easy … let me help you discover how easy it can be!