Now China Has The Problem Too

China has a problem of too many elders and not enough babies being born.  I don’t suppose the elders will be producing many babies by themselves, but they will need younger people to provide their care.  Problem is, there aren’t enough of them to fill those jobs.

So, they relaxed the one child per family rule, but is it too little, too late?  All over the world, the population of seniors is swelling, living longer, needing help eventually with daily living, and not enough caregivers to provide it.

Who will care for you when your health changes?  Many people tell me they want to stay at home and have help come in if needed.  Great plan, but where will you find that help, and how will you pay for it?

The wealthy will be able to pay handsomely and find the help they want or need.  The majority of Americans do not have sufficient savings for their (healthy) retirement.  Those in the middle assume their children will step up, move in, and take care of them.  Really? You expect them to stop their careers, mortgage payments, car payments, and start working for you?

Okay, you can always hire a home care agency to send people in for this.  How many of you can handle an extra bill of $20,000 to $60,000 a year for this?  Those figures are for today’s costs, with minimum wage still at $7.33 an hour.  How about the growing number of places where minimum wage is rising to $15.00 an hour?  And if you are healthy now at 60, what will the cost be at 80, or 85?

Fortunately, Long Term Care insurance has a built in inflation factor.  Once purchased, the benefits it will pay when care is needed automatically increase by 5% compound every year for the rest of your life.  Premiums are designed to stay level and the better companies have learned whom they should accept and whom they should not accept for coverage, meaning price stability is far better now than in the early learning years of this product.

The industry of financing LTC has evolved  into specialists, who have access to all the products, and the knowledge to guide people to the best, most appropriate solutions. Just like medical care, we go to specialists for the best guidance and products.  For more information, visit

Here is a free online chart where you can play with the numbers and find out how much money you would have to set aside today, to pay for so many years of care in the future.  HTTP://

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