Review Journal....May 20,
2014
Aging Americans Not
Planning for Assisted Living
Having owned an insurance agency for
over 30 years, I learned long ago that...
People Don't Plan to
Fail
They Fail to
Plan
I've heard every reason as to "why"
people don't want to purchase insurance, but one thing I've never
encountered.....
An Insured Refusing to
Cash a Check !
No...this is not an advertisement to
buy insurance, but it is a warning to PLAN.
It's easier for YOU to make a decision,
rather than placing others in a position to make it for
you.
Most of us are past that time of life
where taking care of young kids is a concern....but we are at that point of life
where THOSE SAME KIDS may have to someday take care of YOU...unless you've
PLANNED.
The article in the Review Journal
states that 70% of Americans will
need some type of long-term care after the age of
65.
...and it's
nothing to take lightly !
And those of you who never married, are
now widowed, or never had children, are the most
vulnerable.
Here are other
FACTS...
50% of
people age 40 and over have been caregivers to friends and
relatives.
60% of
people age 40 and over have provided care to a
parent.
As the article
also points out....
Care giving is not only an EMOTIONAL
challenge, but a PHYSICAL one as well.
The average age of a spouse caregiver
is 67, and 58 for those
who have cared for a parent.
33% of
Americans in these age groups are deeply concerned, yet 67% have done little or no
planning.
Only 32%
have set aside money for living assistance, and 28%
have modified their homes to make it easier to live as they get
older.
Just what does
assisted living cost ?
Sit down !
53% of
Americans underestimate the cost of a nursing home.
(nursing homes average $6,900
p/month)
33% of
Americans underestimate the cost of assisted living, of which 20% believe a home health aid costs approximately $1,000
p/month.
(the actual cost of a home health aid
is approximately $3,400 per month)
What's the
answer?
Simply
stated
...PLAN...
If you are married, TALK to your spouse as to what your wishes would
be.
If you are widowed with children,,
TALK with your children as to what your wishes would
be.
If you are single or widowed without
children, TALK to a professional counselor as to
your wishes.
Most importantly....no matter what
category you find yourself in......
CHECK YOUR FINANCIAL
SITUATION.
Long-term care insurance coverage may
not be an OPTION, but instead, a REQUIREMENT.
Here's another article recently
published in the Las Vegas Review Journal about this topic. It's informative
and thought provoking.
....because if you don't die at the
right time, you will in all probability be the object of this article....be it a
care giver, or one who needs assistance.
You've lived your life on your terms to
this point.....
Don't allow others to control it for you
at the most vulnerable time of your life.
Dick
Arendt
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