Long Term Care

The thought of retirement gets many people's juices flowing. They can't wait. They deserve it. They've been working their whole life for this, finally here it is at last. They get to travel, kick back and relax, take time out and enjoy life.

Others, it causes them to wake up in a cold sweat at night concerned that they will run out of money, especially if there are extended periods where they will need long term care.

What is the Problem?

The problem has to do with the high cost of healthcare and the uncertainties of our own health.

We can have lived a wonderfully healthy life and may do so long into retirement. But there will reach a point when you will need help. Whether it is just help with simple daily tasks or intensive care for long term illness.

You can't wish it away, you can't pretend it won't happen to you. So what do you do?

Possible Solutions

What are the possible solutions you can pursue?

• Focus on wellness - while this isn't a guaranteed solution, anyone focusing on staying healthy and living a high quality lifestyle will certainly do better than one who doesn't.
• Purchase long term care insurance - this insurance can provide adjustable coverage based upon your changing needs and take the financial burden off of your retirement finances.
• Marry a doctor or a nurse - this might be impractical for many of you since you are already married and you are trying to come up with a working solution for both of you.
• Send your kids to medical school or nursing school - Many of you might not have a choice in that area because they've already chosen their careers or their grades didn't cut it.
• Move overseas - long term care is very inexpensive in most third world countries. Although the expenses are cheap their quality tends to be very low as well.
• Do nothing - if you choose to do nothing, you will burn through all of your resources and end up in a low quality of life solution.

For more information on long term care click here.