I know we are all at different stages in our lives. If you are like me, you may find it hard to think very far ahead. Well, recently, I have been coming to terms with things I never thought of or imagined in my youth. My grandmother is approaching her 99th birthday! She is the sweetest little fireball you ever could meet. She is wonderful and she still has most of her marbles and she can get around pretty well but she takes a huge amount of care. My mother has been doing it all herself until recently when she found an assisted living place to care for my grandmother. I watch my mom pour out so much time and devotion and I see that she herself is aging and I can’t help but say that though I am proud of them both and love them both, it frightens me! I also see how quickly finances can become drained with this type of assisted living bill. That frightens me too.
I recently ran across an article in the Huffington Post titled, “Women Are Caregivers, But Who Cares For Them?” and it touched a chord with me. Luckily for me, this topic of concern is not imminent for me but still I realize that I have to begin to think ahead about this a bit. My grandmother is one tough cookie, how will my mother pay the bill if my grandmother lives for 5 more years or 10 more years? Who will care for my mother someday? All these types of questions mill about in my head and I just don’t have the practical financial education to answer them. The article from the Huffington Post reminded me that it is important to plan ahead and that there are people who can advise you in this situation. In fact, the article mentioned LTC insurance- something I had never even heard of. While doing a little research on long-term care insurance I noticed that Genworth Financial offers a free consultation and a free guide by state!
As a youngster, I never thought of living a long life as a concern. I am only just now beginning to get the idea of how to plan ahead for our retirement. Life is so full of things that need your attention now- the baby, the dishes, the bills, the joys and the tragedies, that it is hard to plan ahead. My eyes have been opened though as I have witnessed first hand how my grandmother has fallen and recovered, had surgeries and recovered, and fallen and recovered again. Life can get tough and it is better for you and those you love to plan ahead. I find myself completely inept at advising my mom but luckily her financial adviser provides lots information that is helpful.
Are you or have you been a caregiver? Do you wonder who will care for you? Have you had discussions about the topic with your family and/or financial adviser?
Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network.