Long-Term Care

For many families, finances are rarely discussed in detail, even as children mature into adulthood. But as your parents' age, especially if they live into their 80s and 90s, there's a chance that they may lose their cognitive function and be less capable of managing various tasks. This can be upsetting for some parents and they may try to fight it, or deny that it’s happening.

It’s believed that retirement planning as we currently know it didn’t really exist until a few decades ago. Up to that point, people worked until 65 and then sailed into retirement on a pension plan.

For most of us the conversation isn’t whether or not we’ll need long term care, but rather when. According to the U. S.

It’s not always pleasant to think about who will take care of you when you’re no longer able to take care of yourself, but planning ahead is a necessary part of getting older. The more prepared you are—emotionally, logistically, and financially—the easier it will be for you to transition into long-term care if and when it’s needed.