To understand why long-term care planning is important, watch this profound (and fun) commercial from Prudential about retirement planning:
How long do you expect to live?
It's reasonable to plan to live a long life, that's why we are all so concerned about saving enough money for retirement.
But if it's reasonable to plan to live to 85, 90 or longer, isn't it also reasonable to expect that we could be disabled for a few years along the way?
Due to advances in our medical technology, our society has been blessed with an increasing average life span. Today, we are living almost twice as long as our ancestors did only 100 years ago. But along with this comes the drawback that the longer we live, the more likely we may need long-term care before we die.
This section addresses the risks of needing long-term care as well as the average length of time that people may need long-term care. It also covers how our aging population increases the need for long-term care and how families are not equipped to handle their needs.
It's reasonable to plan to live a long life, that's why we are all so concerned about saving enough money for retirement.
But if it's reasonable to plan to live to 85, 90 or longer, isn't it also reasonable to expect that we could be disabled for a few years along the way?
Due to advances in our medical technology, our society has been blessed with an increasing average life span. Today, we are living almost twice as long as our ancestors did only 100 years ago. But along with this comes the drawback that the longer we live, the more likely we may need long-term care before we die.
This section addresses the risks of needing long-term care as well as the average length of time that people may need long-term care. It also covers how our aging population increases the need for long-term care and how families are not equipped to handle their needs.
