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.
- If an illness lasted long enough, it may cause serious tax issues and threaten the financial wellbeing of those you love.
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.