As the oldest members of the Baby Boomer generation are now well into retirement age, the question is no longer just about outliving their income but whether they have the resources in place to pay for healthcare costs, including long-term care.
While retirees or those approaching retirement who are in good health may have accounted for typical healthcare costs in their retirement planning, many overlook potential long-term healthcare needs. The fact is that no one can predict the future. With home health care and nursing home care costs rising every year, it’s important to plan for this possibility, whether or not you’re currently in good health. And if you’re married, you’ll need to save twice the amount to ensure that you and your spouse’s healthcare needs are taken care of.
At CM&A, we want you to be prepared for every possibility. We know that preserving your wealth and leaving a legacy for your family is important to you. That’s why we want to make sure that you plan ahead for unexpected long-term healthcare costs. When meeting with your advisor, you’ll discuss what your long-term care expectations and preferences are. Then, our team will help you decide the best ways to pay for these costs and preserve your assets before you need to use these funds for long-term care.
Don't let long-term healthcare needs catch you by surprise! Work with one of our financial advisors to put a plan in place for your long-term healthcare needs without impacting your legacy.