The Long Term Care (LTC) Blog
UN Report: World Not Prepared To Support Aging Population
It’s not just the U.S. facing an aging population, the baby boomers were a result of World War 2, a world-wide event. This report ranks the social and economic well-being of elders in 91 countries – and none are truly prepared. By 2050, for the first time in history, seniors over the age of 60 will outnumber children…
Read MoreYou Need LTC, But Did Not Buy Insurance – What Can Be Done?
You thought (hoped, actually) that you would never need Long Term Care. If it did happen you figured perhaps your family would take care of you. Neither of those thoughts panned out and now you are facing a very expensive long term bill. What can you do? Fortunately, there are strategies that can help in…
Read MoreA Billboard in Green Bay, WI
I noticed a billboard in Green Bay, WI last week. Green Bay is a nice midwest town that I call home in middle America which is obsessed with football. What struck me was the item being advertised. The billboard was advertising a home elevator that travels up and down alongside a stairway. These items have been around…
Read MoreBoomer Expectations vs Reality of Adult Caregiving
An overwhelming majority (88%) of our nation’s middle-income Boomer caregivers find caregiving for a parent or spouse harder than they expected, requiring more emotional strength (57%), patience (55%) and time (52%). The study, Retirement Care Planning: The Middle-Income Boomer Perspective, which surveyed 505 adult caregivers ages 49 to 67 with an annual household income of…
Read MoreHuge Shortage of Caregivers Looms For baby Boomers
A recent Washington Post article stated what Long Term Care (LTC) planners have known for some time, that it’s difficult to find sufficient caregivers to staff nursing homes, assisted living facilities, and home care agencies. What happens to wages in any industry when sufficient employees cannot be found? Correct, wages rise. This situation is already causing…
Read MoreDon’t Bet The Farm
“Betting the farm” is a phrase that describes going all in on a bet, betting the entire amount you have. Most sane, reasonable people would never do that, or would they? We adapt to risks our entire lives. We may go to a casino, but rarely bet our house, limiting our wagers to a couple…
Read MoreGet It While The Getting is Good (LTC Insurance, That Is)
The insurance companies that sell LTCi are scared to death of us. We are living too long, we hang onto our policies and never let them go, and many of us will be collecting on them. We are smarter than the LTC insurance companies. I bought mine back when I was 52 years old. Back then…
Read MoreDon’t Pay Too Much for Long Term Care Insurance
A recent article on “The Street” website is about not paying too much for your long term care insurance (LTCi). There are significant differences in pricing between companies. This is the year that many LTCi companies are changing pricing to be gender specific. The majority of people in nursing facilities are what gender? You guessed…
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