Broker Check

Thinking Long Term

| May 17, 2019

My mother took great care of my daddy as he battled Parkinson’s.  Months after he died and after a long life of good health, my mother’s health cratered.  Much of this is due to her total dedication to caring for my father and being last on the list.  After 67 years of marriage, there was no option for her but to give him her all.  The results of this downturn mean facing the future with not only healthcare decisions, but reality about the cost, especially if you want to be cared for at home.

This recent downturn has given me pause and reminded me about the expense and the importance of long term care.  If we are all honest with ourselves, we think we are going to live long healthy lives and then pass away in our sleep.  But many, many times this is not the case.  The result is not only difficult on the person but the family and their finances.

My mother-in-law, Bertha Rodgers, lived with Don and I when I moved to Hamburg.  After a long and healthy life, she too had a sudden downturn and the remainder of her savings quickly went to pay the expenses of home care.  Because of this experience with Mrs. Rodgers, Don and I both purchased long term care policies.  This was over 20 years ago when this type of insurance became available.  It was not a popular product because it is a hard topic to discuss.   But now as 70 is close on my heels, I am very thankful I have it.

My point is, if you don’t have long term care you need to examine the cost and new products available.  There are instruments that may fit your needs.  If you choose not to purchase long term care insurance, you may need to talk to your financial advisor and realistically look at your resources and how you will use them if long term care is needed.

In our practice, many of us are living with this reality.  We love to talk to you about your future and what you can do to make it easier for you and your family.  Call us at 870-304-2500.  You will be glad you did!