What money will you use first when you are in the position of needing extended care? That is the question over 70% of the people will have to ask themselves when the need for professional care is upon them.
Will you deplete your checking & savings accounts?
Will you use your 401K/IRA/retirement accounts?
Will you be forced to sell even if the market is down at the time?
Will you be forced to look into a reverse mortgage?
Or will you rely on family members?
According to statistics, over 70% of America’s population will need some sort of care. Since the majority of care begins in the home, the word Extended Care is more accurate than Long Term Care. People tend to think about Nursing Homes when the words Long Term Care come in to play, however, many people need care in the home for years prior to entering a nursing home.
Long Term Care planning doesn’t necessarily mean buying insurance either. It is just planning. Whether your plan involves family members taking care of you or using your assets, everyone needs to plan. NO RETIREMENT PLAN IS COMPLETE WITHOUT A PLAN FOR LONG TERM CARE!
Call for a consultation.