"We're in denial: Americans under-estimate their chances of needing long-term care as they get older -- and are taking few steps to get ready. Two-thirds of people over 40 have done little to no planning for their own aging. Only 1/4 think they will need extra assistance. Government figures show that nearly 7 in 10 Americans will need long-term care at some point after they reach age 65, and they will need that assistance for an average of three years." Associated Press
Sobering. 3/4's of us will need assistance; and, yet, only 1/4 even consider needing assistance. I don't know how these figures compare with other countries; but, clearly, all of us need to consider what we will do when we are older and may need help caring for ourselves. Gone is the time when older generations could expect to move in and be taken care of by younger generations. We, as individuals, need to consider what we want and how we want that to look. Looking at long-term care insurance is one consideration. A financial advisor told me that unless a person has $1-3 million in assets, you need long-term care insurance. If you want to check out buying long-term care insurance, I would recommend you shop around. There are significant price differences -- even among similar policies -- with different agencies. Let us be proactive in our own care -- having seen how much care a person with dementia needs.
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