In the hustle and bustle of daily life, it is easy to put off thinking about long-term care.
However, taking proactive steps to plan for your future needs is a wise decision. Initiating long-term care planning sooner rather than later offers many benefits.
1. Financial security
One compelling reason to start your long-term care planning early is to secure your financial well-being. Long-term care services, whether provided at home or in a facility, can be costly. By planning ahead, you can explore various financial options, such as insurance policies or savings accounts, to ensure that you have the necessary resources to cover potential expenses. Waiting until the need arises may limit your choices and strain your finances.
2. Access to quality care
New York is home to a diverse range of long-term care options, but availability can be a challenge. Starting your planning early allows you to research and choose the most suitable facilities or services based on your preferences and needs. Securing a spot in a preferred care setting can be challenging due to demand, so early planning ensures that you have the best chance of accessing quality care when the time comes.
3. Reduced family burden
Initiating long-term care planning alleviates the burden on your family members. Without a plan in place, loved ones may face difficult decisions and added stress when trying to organize and provide care for you. By clearly outlining your preferences and arrangements in advance, you spare your family the emotional strain of making critical choices on your behalf.
A person turning 65 has an approximate 70% chance of needing some form of long-term care. Taking action now to formulate a plan sets the stage for a more comfortable and worry-free retirement.