The consequences of aging and how it affects your future retirement savings and income happens far too many times to American families.
Longevity is a key part of your retirement plan equation. Due to advances in medical science, more of us will require long-term care services. Everything from needing help at home to full-time care in a facility, the cost of long-term care services and supports are expensive.
“If you need care tomorrow where would the $4,000 to $6,000 monthly costs come from? Even if you could handle this cost from your income how would it impact your lifestyle and that of your spouse? If you would have to drain retirement accounts, how would that impact future income and your legacy?” asked Matt McCann, one of the nation’s leading experts in long-term care planning.
The cost of extended care increases each year. Where you live will also affect the cost. For many families, it means adult children will have to provide care either full or part-time creating huge burdens on them.
“Generally, many people figure they will just pay for care themselves if the time comes when they need long-term care. What they are really saying is they think it won’t happen to them and if it does, it will be someone else’s problem. There is a better solution,” McCann said.
Today’s Long-Term Care Insurance is very affordable for most people, especially if they plan in their 40s and 50s. You can have tax-free resources and access to your choice of quality care in the setting you desire. This allows you to safeguard assets and protect income and maintain lifestyle without placing a burden on your loved ones.
“The financial costs and burdens of aging are tremendous. Caregiving is very difficult for family members. Paid care is expensive. Long-Term Care Insurance is an easy and affordable solution which also gives your family the time to be family,” McCann explained.
He notes most states offer special ‘partnership’ policies which provide dollar-for-dollar asset protection. There are also shared spousal plans and even options for death benefits.
McCann is licensed nationwide. He works with all the major insurance companies. He uses his unique method where consumers speak with him on the phone while seeing his computer screen on their computer. There is no pressure or long in-office sales pitches. However, he urges planning to start before retirement for the most affordable options.
These reference websites are recommended for research:
LTC News offers articles and resources: www.ltcnews.com
US Department of Health and Human Services official long-term care site: https://longtermcare.acl.gov/
Free Long-Term Care Insurance Quotes: www.takechargeltc.com
McCann’s website features an abundance of resources for consumers to research long-term care planning. Remember, working with a specialist allows you to research and shop to save money and put together an appropriate plan to make getting older easier on those you love.
McCann Insurance Services: 866.751.7957: www.mccannltc.net