Long Term Care Insurance - How Will You Pay the Nursing Home?
As you begin to plan for your retirement, it will be important to consider some of your options should you or your partner or spouse require some type of long term care. Needs for long term care may come about as a result of injury, illness, recuperation from injury or illness, Alzheimer's or dementia. And if you have surviving parents to think about in your retirement planning, the subject of long term care, long term care insurance and senior housing options should be discussed as part of your retirement planning strategies. Planning ahead for these contingencies can help to preserve your retirement income; not taking them into consideration can wreak havoc with retirement dollars.
Some things to think about with regard to the impact long term care (LTC) may have on your retirement: * About 70% of persons over age 65 require some form of long term care * Many people need long term care for as long as 5 years or more * The cost for such care can range upwards from $50,000 to over $100,000 every year * There are ways in which to plan to be able to pay for LTC if you or someone you love need it
In the realm of long term care, there are many things to consider. Below are links to some helpful information to get you started on the thought process about this complex subject. High Desert Advisors can help you work potential cost involved into your overall retirement and/or estate plans.
Beth Altherr, Eldercare Advisor, CSA, MAOM, is our Albuquerque connection to A Place For Mom (or Dad). Beth is available to talk with you about planning for your loved ones' long term care. Beth can be reached toll-free by telephone at 1-866-333-5660 or by email at email@example.com.
Specialized care for Dementia and Alzheimers in Albuquerque NM - Haven Care; 505-275-2275
High Desert Investment Advisors 4801 Lang NE, Suite 110, Albuquerque NM 505-797-2644 or 505-469-3467
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Information provided herein should not be considered financial advice. Please speak with your investment advisor.
High Desert Investment Advisors may transact business only in states in which it is registered, or in which it is excluded or exempted from registration. High Desert Investment Advisors is currently registered in the State of New Mexico, and has a de minimus exemption to transact business in other states.
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