The fact is that most people require long-term care once they reach a certain age. According to the Administration for Community Living, 70 percent of people over 65 need some form of long-term care.
You should begin planning for professional elder care sooner than you think. The severity and costs will vary, but it is better to overprepare than get caught without the necessary health care arrangements.
Do not burden your children
When it comes down to it, you do not have the final say on when to start planning for long-term care. You might think you do not need it, but if you have children or family who care about you, they will have the burden if you avoid planning for assisted living. It is tough to predict how healthy you will be as you age. Do not put the stress of making such difficult decisions on your children.
Be realistic about your finances
Consult with professionals about what you can expect to pay. Sometimes people have the means to pay for their long-term care without financial aid. However, most people require some form of insurance. Whether it is private or Medicaid, you need to get the details sorted out before long-term care starts. Usually, people fund their assisted living through a combination of personal assets and insurance plans, so start investigating your financial situation today.
Too many people put the burden of long-term care on their descendants. Planning ahead will give you peace of mind and ensure your children and loved ones do not have to make any difficult decisions for you.
