As we age, we begin to face the decision regarding whether to remain at home or move into a care facility such as retirement home or assisted living or nursing home if that level of care is required. So many things to think about!

Sometimes the tough decision gets made for us as a result of illness, accident or some kind of impairment. In that case we may have to make the decision to move into assisted care or a nursing home because we simply can no longer care for ourselves. Close family and friends (hopefully!) are around to help with the decision as well as arrangements for the move.

We talked about the effect long term care has on financial planning last week on SeniorCitizenJournal.com.  Baby Boomers who have not yet retired, and younger generations as well, need to be seriously planning for their senior years’ long term care needs. We are living longer, and the need for long term care of one kind […]

Projecting ahead into the next year, it begins to appear that the costs of elder care, i.e. assisted living, nursing care and other such forms of suitable accommodation for the elderly who require attention will continue to escalate. Depending on the nature of the care, geographic location, the condition of the resident (client, patient, etc.) these costs seem to continue to climb, until it is possible to imagine that over a ten year period, one can be talking in terms of somewhere between $400k and $500k in costs for care. That begins to feel prohibitive and downright scary.

Those who are wise enough to have applied for and qualified to receive long term care insurance are surely on the right track. And, they are even wiser if they chose the inflation rider as a part of the policy.

We relish the thought of our elderly loved ones