Nobody wants to think about getting old. That's why it's easy to put off learning about aging services.
But the truth is, an unexpected injury or illness can happen, and it's better to know what you want now before you're in a crunch.
The solution to this situation? Plan and save early. Understanding your options and resources now will help live better later.
Here's a few tips you can use to jump start your planning process:
Put finances first: To start, ask yourself: "How prepared am I for my later years?" If you don't know the answer, now's the perfect time to meet with a lawyer, financial advisor, or even better, a representative from a long-term care insurance company.
Look around: Money matters, but so do your needs and preferences. Research a number of different services or facilities to develop a better sense of what you want and can afford.
Avoid the unexpected: We all hope for the best, but it's also important to prepare for the worst. Develop a plan in the case of medical emergency. Studies show that care plans equal smoother and speedier recoveries for older adults. And that's what all of us want.
Get in line: If you want to live in a retirement community or other long-term care facility, it's particularly important to plan early. Waiting lists are commonplace, but securing your spot now means you have a better chance of living there when you want, or when you need, to move in. And of course, you'll be more prepared for the costs.
Start saving: Remember that with whatever plan you develop, saving is the only way to make it happen. Isn't your well being worth the investment? Everyone gets older. But with the right plan in place, you can receive the services you need, when you need them, in a place you call home.
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- How Social Security Fits Into Retirement Plans
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