Odds are that more than a few of us have had to deal with a family member, immediate or extended, who has required assisted living needs. Maybe they had to research specialty doctors, care centers or care providers; possibly for a member living hundreds of miles away.
The 3in4 Need More is a nonprofit organization dedicated to raising awareness of the importance of planning for ones long term care needs. It is exclusively dedicated to promoting the importance of planning for long term care needs. The website www.3in4needmore.com has an information center with informational websites, telephone hotlines, calculators, information about long-term care coverage, a planning guide and finding a senior living community.
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Here is an excerpt of an outstanding article we read on Yahoo finance:
Could you withstand a half million dollar or more hit to your retirement savings? Even for many one percenters that could be the difference between a comfortable retirement and destitution. Yet, the odds that you may someday get this hit are uncomfortably high.
Long-term care costs are a wild card that can wipe out the most careful lifetime investment planning. And the event is so random and capricious that it’s difficult to impossible to simulate in a financial plan. And no matter how carefully you have saved, how good your asset allocation plan and investment strategy is, the results may be ruined if you, your spouse, or another family member need long-term care.
Click here for the entire article from Yahoo finance – this link will re-direct you to Yahoo’s site which will open a new tab.