It is difficult to prepare for the possibility that you or someone you love may need long-term care as a result of an accident or illness. Your world change dramatically, affecting not only your quality of life, but your finances as well. While you may not see long-term care on your horizon, it may enter your life through someone you love. The AARP estimates that 44% of Americans between the ages of 45 and 55 have aging parents or in-laws and children under the age of 21. Furthermore, 40% of people in need of long-term care are between the ages of 18 and 64.
While we might not know what the future holds, we can hope for the best and plan for the worst. Planning today for an uncertain tomorrow may afford you more independence with your savings, offer you more options for care, and bring you peace of mind.