When I say Long Term Care, what feelings do you have? If you’ve experienced it with a parent or loved one, no question you’ll feel sadness and anger. Maybe you haven’t experienced it, and you’re confused because you’re not sure what to prepare for? One thing is for sure, Long Term Care can be a confusing, expensive, emotional subject.
My name is Billy Hope and I’m with Redwood Financial Network. We help people pursue their financial goals by providing strategies that are in line with their family needs. A key part of our strategy, is preparing our clients for unforeseen events, and one of the most common is the need for Long Term Care.
Ask yourself, if you or your spouse were to end up needing Long Term Care, are you prepared? Do you know where you would go? Do you know how much it would cost? Do you know the difference in costs between staying home and going to a facility? More importantly, Long Term Care can be expensive, do you have a liquidation strategy to pay for it? Far too common, people don’t ask themselves these questions until it is too late.
The good news is we can help. You don’t have to figure this out on your own. Watch our quick video where we’ll discuss 3 things. We’ll clear up some misconceptions that surround Long Term Care, where we lay out a few scenarios, and discuss pros and cons of those scenarios, and we’ll tell you some things you need to be cognizant of while planning for your family.
After watching, our hope is that you’ll feel confident making the right decisions when it comes to guarding your family’s lifestyle. The need for Long Term Care is unfortunate, but you do not have to let it dictate your finances.