Planning for Long Term Care Requires Family Conversations

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For more info visit www.newsinfusion**** The cost of long term care can severely impact your family’s futu...
For more info visit www.newsinfusion**** The cost of long term care can severely impact your family’s future financial security. Requiring care in any setting is not a topic many of us want to talk about, for obvious reasons. But the fact is, 40 percent of Americans who need long term care are working age adults 18-64 – and this care comes with a very steep price tag. For example, according to recent data from Genworth Financial the national average cost for one year of home care is more than $42,000. Dr. Ken Dychtwald, a psychologist, gerontologist and author of 16 books including With Purpose, Going From Success to Significance in Work and Life says today’s Rubik’s Cube-like families come in all shapes and sizes and have diverse sets of complicated dynamics but one commonality is the need to include long term care planning as a part of their overall goals for financial independence and security.
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