You may know the risk of needing long-term care ... but do you understand the consequences? You have likely seen the statistics that talk about the risk of needing care as you age. Like most, you have probably told yourself, "It will never happen to me." We are on your side and hope it never happens to you either.
Have you thought about the consequences providing care to you over an extended period of years would have on those you love? Some important things to consider:
Providing constant care will often make healthy caregivers as chronically ill as those they care for.
Children and/or friends may have no choice but to help provide your care, which will force them to change their lives.
Paying for care could have a serious impact on your financial plan and your ability to keep your financial commitments.
Planning ahead will give you a unique perspective on the consequences that not having a plan for long-term care will have on your family and best thought-out retirement plan.