Some people put off looking into long-term care, either because they think it’s too far down the road or they may not need it altogether.
Despite research showing people are living longer than ever, only 22 percent of respondents to a recent survey believed they would need long-term care in the future, while about one-third thought that their parents, spouses and other family members would need it.
In reality, experts predict that approximately 58 percent of women and 44 percent of men will need long-term care during their lifetimes. Ironically, the healthier you are today, the more likely you’ll need long-term care in the future. That’s because if you’re fortunate enough to live a long, healthy life, you’re more likely to eventually experience the physical and mental effects of old age.
Perhaps part of this denial is simply that people don’t want to pay insurance premiums for something they may never use. However, we have some alternative strategies for how to help afford medical care as part of your retirement income plan in the event that it is needed. Schedule an appointment today, and we’ll help you find a strategy that can fit your particular situation.
[CLICK HERE to read the article, “Long-Term Care: How Big a Risk?” from Center for Retirement Research at Boston College, November 2014.]
[CLICK HERE to read the report, “The Next Era of Palliative Care,” from The Journal of the American Medical Association, Oct. 20, 2015.]
[CLICK HERE to read the article, “New Products Address Shortcomings of Long-Term Care Insurance,” from Bank Investment Consultant, Sept. 1, 2015.]
Here’s another thing that that changes as we get older: We stop asking questions. One researcher observed that, “A child asks 300 questions a day. By middle school, the number is down to practically none.” Obviously, we don’t know all the answers by sixth grade. Instead, the study concluded that our natural curiosity is trained out of us. Parents, teachers and employers want correct answers, not questions, so we lose our natural inquisitiveness to question why things are the way they are — like why the correct answer is the correct answer.
By the same token, some researchers say that creativity is inherent in most, if not all, children. As adults, continuing to exercise our creative instincts can make us more creative. Not using them causes our creativity to become latent.
[CLICK HERE to read the article, “Companies Value Curiosity but Stifle It Anyway,” from Harvard Business Review, Oct. 21, 2015.]
[CLICK HERE to read the article, “Can Creativity Be Taught?” from Knowledge@Wharton, April 27, 2014.]
Albert Einstein once said, “The true sign of intelligence is not knowledge, but imagination.” This is often true of problem solving. Sometimes we must assimilate what we have learned, mix in a little creativity and resourcefulness, add some new knowledge and data, and transform it into a new strategy tailored for our specific needs.
That’s what we try to do for each of our clients. Your wisdom, our knowledge of the industry and a little imagination can work wonders.
[CLICK HERE to read the article, “This Infographic Depicts 9 Domains of Intelligence,” from Gizmodo, July 24, 2015.]
We are an independent firm helping individuals create retirement strategies using a variety of insurance products and investments to custom suit their needs and objectives.
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