Financial Planning Questions for Long-Term Care
Is privately funded care affordable? How does an adult child know if his/her parents can afford their possible need for long-term care?
It’s important to establish roughly how much money your parents have in cash, investments, and Social Security.
We’re living longer than ever, which means more people are outliving their retirement savings. Ask your parents whether they have enough to sustain themselves for the rest of their lives. If not, how much support will they need?
Understanding their policies can save you time and money in the long run.
Source: M.P. Dunleavey, a contributing editor at MSN Money (Money.MSN.com)
National Clearinghouse for Long-Term Care Information
A wealth of information and resources to help plan for future long-term care needs, courtesy of the US Dept. of Health and Human Services.
Long-Term Care Link
This comprehensive resource for long-term care planning, available from the National Care Planning Council, offers an assortment of articles to help educate about all aspects of long-term care planning.
Statistics on Long-Term Care
Family Caregiver Alliance compiles national long-term care statistics from multiple studies and sources in this informative fact sheet.