Elder care planning, also known as longevity planning, is a growing need for our clients. As medicine progresses, people are living longer and happier lives. This means it is important to ensure you don’t run out of retirement funds in the middle of your golden years. Not only do you want to build a lasting pool of funds that allows you to enjoy your wealth in your later years, but it is also important to plan for unforeseen medical and health-related expenses as your body ages. We will cover all of this when we work to together to build your longevity plan.
When it comes to your health, it is wise to expect the unexpected. Health conditions can become more complicated as you age, and together, we’ll want to build a plan to give you peace of mind. In order to live life to the fullest, you will want to spare no expense in taking care of your health and doing everything you can to ensure you are able to secure every comfort available throughout your senior years.
Housing is one of retirement’s largest expenses. Further, most aging high-net-worth individuals prefer to continue to live in the comfort of their own home, as opposed to moving into any sort of assisted living facility. As such, you’ll need to be certain you have enough saved to cover your home for a long time, and to also make additional modifications and home improvements to accommodate for your changing health as you age.
Life is too short to do everything on your own, especially as you embark on your golden years. Create a financial plan that supports plenty of help. Planning for assistance can greatly ease the mental and physical burden on health as you age. Further, if there ever comes a time that you need a great deal of assistance in your own home for health reasons, your planning will give you the option to continue to live your life in the comfort of your own home instead of having to move to an assisted living facility or a nursing home. Saving for additional assistance now can greatly ease your mind in later years.
Will you travel? Start a new hobby? Collect things? Plan for your senior years to be the best years of your life with a good longevity plan. When we sit down to discuss what your elder care plan looks like, we’ll take a close look at how you want to enjoy life at this phase. Often, our clients find that their recreational expenses in their senior years may well exceed their current recreational expenses. Painting the ideal picture of your senior years will help us budget the right amount to enjoy life to the fullest.