Why Self-Coverage May Not Be An Adequate Substitute for Long-term Care Planning and Insurance
Huffington Post - about 2 years
"I hope I die before I get old." -My Generation- The Who, 1965 Most Boomers were just coming of age when Pete Townsend wrote "My Generation." Now, 50 years later, most boomers are still alive and likely will be for another 20, 30, or even 40 more years. That said, we may be living longer, but we are not necessarily living better. Despite the advances in medical technology and pharmaceuticals that are enabling us to live longer, lifestyle-related chronic health conditions certainly continue to take their toll. The Huge Hole Nearly every American has a huge hole in his or her financial plan that can have a dramatic impact on retirement income, legacy, and the lives of loved ones. The lack of a long-term care (LTC) plan and a way to pay for it, even for those considered high net worth, invites chaos, uncertainty, and perhaps dread. "Will I have enough?" For many who are now living beyond their means, saving too little, or mortgaging their retirement to pay for college e...
Article Link: Huffington Post article