70% of adults will need long-term care (LTC) during their senior years. Do you have a strategy for your future healthcare needs?
Serving as a caregiver can be a great honor but can also present challenges. Here are some important reasons why you should consider having a long-term care plan in place:
- 78% of adults rely solely on family and friends for long-term care at-home assistance.
- The average caregiver is a woman around 46 years old.
- A caregiver spends about 21 hours per week assisting their patient or family member.
- Over 90% of family caregivers had to alter their work schedule permanently to care for a loved one.
- Around 40% of caregivers had to switch from working full-time, to part-time.
- Around 10% had to take a pay cut at their full-time job.
- Close to half said they had to skip vacation and other personal activities to take adequate care of their loved one.
- 29% had to use their own money to provide care.
- More than 10% had to move closer to care for a family member.
Planning now will alleviate some of the stress on your family so they can focus on enjoying time with you rather than worrying about how to pay for your care.
Click here to learn more on our Long-Term Care Insurance page.
Navigating all your LTC insurance options can be cumbersome. We’re here to help you determine what type of long-term care program best meets your needs. We can be reached at 215-579-5601 or www.edelmanwealthmanagement.com.
And, as always, if you have any life changes or updates (i.e., new job, promotion, marriage, new baby, new grandchild, etc.) that may affect your current insurance and investing strategy, please call us at 215-579-5601.
Stacy Brilliant, Chief Operating Officer
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