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From retirement planning to estate planning, your financial security is heavily dependent on the plans you make. These plans allow you to expand and preserve your wealth effectively, especially as you age. What about long-term care planning? If you do not have a long-term care plan, you risk exhausting your entire savings paying for care.
For many of us, cost is a major factor in the decisions we make. Before making a final decision, you probably weigh the pros and cons against the price to figure out how you’ll be affected financially. Planning for your long-term care is no exception.
Whether you’re worried about the cost of long-term care insurance or the legal fees associated with working with an attorney, you may be hesitant to seek the information and guidance you need. And this uncertainty might be preventing you from forming a long-term care plan. Don’t let it.
Although you’d probably rather spend your hard-earned money on something other than paying an attorney or setting aside a few hundred dollars a month for long-term care insurance, these planning costs are worth it.
These planning costs may seem like a lot now, but they are nothing compared to the high cost of a long-term care stay.
*2020 Genworth Cost of Care Survey
If you don’t take action now, you risk depleting your entire life savings in a matter of months. Instead of focusing on the cost of an attorney or long-term care insurance, consider how much you will save by properly protecting your assets and planning for your future care. In the ends, that’s what matters.
Call Senior Care Counsel at (844) 412-4222 or visit us online at our website to learn more about your long-term care planning options and get connected with a qualified planning professional in your area
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