Introduction
Financial Education
Health Education
Financial Products & Services
Health Products & Services
@sk Sean Toh
Blogs Friends
About Sean Toh
Contact Sean Toh

Have You Thought About Health Care For Your Parents?

Planning for Long-term Health Care

It’s the unspeakable. We all know about saving for retirement, but how many of us plan for when we or our parents can no longer take care of ourselves?

While many of us have concerns about health as we age or we watch our parents age, most of us simply do not want to think about the issue. Few of us are planning for the eventual need for long-term health care.

Many financial planners believe that Americans are not financially prepared to deal with the issue of long-term health care. We’ re all living longer yet living longer does not necessarily mean living in perfect health. And the costs of long-term health care both financial and personal can be high.

Just thinking about the need for long-term health care raises a myriad of potentially disturbing questions:

Who will make decisions about my care when I am unable?

How can I make sure I'm not a burden to my family?

How can I take care of my aging parents?

What options are available to me and to my parents for long-term health care?

Everyone needs to consider these questions… before the need arises. Proper planning and open discussion among family members can promote effective financial planning, ensure that the best alternatives for care are chosen, confirm that everyone agrees on a plan of action, and help loved ones avoid being caught unprepared.

Times have changed

The personal costs of long-term health care

Planning for the inevitable

Long-term health care preparations

Plan ahead

By The Financial Planning Association