70% of people over the age of 65 will require some type of long term care at some point in their lives. Lack of long term care planning can deplete your finances, impact your assets and affect your retirement savings.
Creating a strategy now ensures your quality of life in the future, protects your finances and offers your family a roadmap for your wishes. A well-thought-out plan gives the caregivers and family members you choose permission to make decisions based on your outline.
Planning how you will pay for possible necessary care is vital to ensure you have the services you need. Whether you choose to self-fund, access Medicaid options or use long term care insurance, having funds available to pay for your assistance is crucial.
Without a plan, unprepared family members may need to step into the role of caregiver, take on the financial burden of expenses or make decisions regarding your care. A plan prevents them from undue stress and emotional overwhelm.
At Irma Hampton - Wealthcare Advisory Partners, my alignment with LPL Financial gives me access to various solutions to help you find the best options. Get in touch today at 512-413-1272 to start your long term care planning, protect your finances and ensure you live the way you choose.