Long-term care can derail retirement pretty quickly.
Nearly 70% of all 65-year-olds in America will need long-term care at some point in their lives, and our lifespans are on the rise. But for such a common need in retirement, affordability is a big problem. Long-term care can take a huge portion of the money you’ve saved for retirement, and those odds only increase when you don’t factor it into your financial plan.
When we sit down to form your strategy for how to factor long-term care into your retirement, we emphasize preventing the spend-down of hard-earned assets, protecting your surviving spouse, and safeguarding the legacy you want to pass down to your children, loved ones, and beneficiaries. We’ll also look outside of the common long-term care vehicles to see if we can leverage existing resources to help combat the cost and reduce cutting into your retirement funds, protecting your assets from any spend-down. We’ll identify the best financial tools in your retirement toolbox to assist in covering the costs.
At First Financial Planners, we know that no one is ever overjoyed to see the day that requires long-term care, but we are here to help ensure that your financial plan will meet your needs during all stages of life and take care of you when you need it most.
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