Longevity is a blessing that exacerbates and intensifies the need to plan for extended or long-term care—and we’re not just talking about health-care needs. There are also lifestyle needs. The need to age in a setting that allows for interaction with others to avoid depression or misplaced anger is well documented. Loneliness and isolation can be deadly, literally. There are also financial needs. Worrying about running out of money or being forced to move out of familiar surroundings is stressful. These issues ripple through a family’s financial stability and relationships. From a macroeconomic and cultural viewpoint, these shifts are impacting societal norms. According to the Pareto principle, 80 percent of the consequences stem from 20 percent of the causes. One family member, or one close friend, who looks to you for help with extended or long-term care needs can impact your life in ways you don’t anticipate. The COVID-19 pandemic was a nasty wake-up call for the entire world. It opened all of our eyes to the limitations of the government, the health-care system, and even families’ abilities to provide safe and adequate care when things go wrong at a local, state, national, or global level.
The earlier you plan, the more options you have.
Click Follow to receive emails when this author adds content on Bublish