Contributing Article by June Duncan.
5 Questions every senior should ask about Long-Term care.
Now that you're getting older, you're starting to hear the term "Long Term Care" a lot. But do you understand how huge of an impact long term care could have on your life. Long-term Care is slated to be one of the biggest expenses Baby Boomers face in retirement. If you haven't given thought to Long- term care planning, here are 5 questions to get you started.
About planning for caring.
Will you need long-term Care?
The simple answer: Probably. Current Government estimates predicts that todays 65 yr old have a 69% chance of requiring Long-term Care in the future.
Certain Factors increase your long term risk.
These include sex longevity and personal and family health history. Women people who live long lives and people with chronic illnesses utilize long term care services at a higher rate.
Your lifestyle also plays a role in long-term care needs. The choices you make regarding diet, physical activity, substance abuse and sleep all influence your health. If you have an unhealthy lifestyle, you're at an increased risk of developing a chronic illness or disability that renders you unable to take care of yourself.
Where do you want to receive care?
Your care setting isn't always up to you. If you need 24/7 medical supervision, for example you will be limited to nursing home care. Seniors with dementia are best served in memory care facilities. Most seniors don't need such a high level of care and can choose their settings based on price and preference. If you'd like age at home, factor in the cost of aging-in-place remodeling into your long- term care budget. If you're interested in the social benefits of facility-based care, read up on different types of facilities so you understand the options.
About paying for care
What will long-term Care cost you?
According to PwC, the average person incurs $172,000 in long-term care expenses over their lifetime. You may pay more or less depending on your lifespan, care setting and geographical location. The cost of long-term care varies by region, with prices highest in high-cost-of-living areas. If you live in an expensive area and don't want to move, research the cost of home-based and institutional care in your region to get an accurate picture of care cost.
Can you afford long-term care?
Most people can't afford to pay for long-term care out of pocket. While some high income, high worth seniors can self insure, most need long term care insurance to defray care cost. However, the coverage offered by long-term care insurance is limited. If your care is very expensive or you need care for several yrs, you may need to liquidate assets.
Selling a house may be the best option for seniors facing a permanent move into a long-term care facility. Rather than continuing to pay for their home, which is likely to fall into disrepair while vacant, seniors can sell and use the proceeds to pay long-term care cost. To determine if this is a viable option for you, research home prices in your region (In Kennesaw GA, homes sell for an average of $228,000) and compare it to the cost of long term services.
How will long term-care affect other financial plans?
Long-term Care isn't the only expense older adults must plan for. There are health care cost, funeral expenses, and basic cost of living, as well as inheritances you'd like to leave to loved ones. When deciding how you will pay for long term care, be sure to consider all your retirement expenses. Only then will you have a full picture of your financial future.
It's not easy to think about Long-term Care. Most of us prefer to imagine we will grow old at home under the watchful eyes of friends and family. In reality. many people need more help then their loved ones are able to provide. By making your long-term care plan, you make sure you're cared for no matter what happens.
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Contributing article by Camille Johnson
Fight grief one healthy step at a time.
Highlighted text see reference bottom of page
Losing something or someone we love is one of the most difficult experiences of life.
It may seem impossible to think about anything but your grief, and it can be easy to shut out others who are trying to help you.
But there are many ways to help process your grief and find healing. Here are some healthy way you can overcome grief.
SET REALISTIC GOALS
One way to overcome your grief is to set goals for your life. It may seem like the last thing you want to do right now, but setting a goal can give you a sense of purpose and motivation.
Maybe the goal is as simple as wanting to get up in the morning, or maybe it's bigger than that. You might decide you want to start working again or explore new hobbies.
It's important to remember that while your loved one may not be with you anymore, they are still with you in spirit. Setting goals in their honor will help you feel closer to them and provide motivation for moving forward.
REACH OUT TO OTHERS
It's important that you don't let yourself stay isolated. Reaching out to others may be the first step in the grieving process and in overcoming isolation.
Grief can be isolation, and it's importasnt to have someone there who understands what you're going through. Reach out to friends, family, or a counselor for support when you need it. Working from home can worsen the symptoms of isolation, so make sure to leave home during the day whether you're meeting a friend or just grabbing a cup of coffee.
FIND MEANING IN LOSS
Finding meaning in your loss is a way to be able to cope with it. One way you can find meaning in the loss is to remember what you learned from it. You can also do something in it's memory, like attending an event that means something to you or starting a cause that's important to you.
TAKE CARE OF YOURSELF
It's important to take care of yourself during this difficult time. You may not feel like eating, but it's important that you do keep your body functioning properly. You also may not want to see friends or family members who are trying to help you through this difficult time, but it's important that you do so that they can help you heal.
JOIN A SUPPORT GROUP
One of the best ways to find healing after the loss of a loved one is to join a support group. Support groups offer you the opportunity to share your thoughts and feelings with others who are going through the same thing you are.
You'll be able to hear from people who have been through what you're going through now and be able to learn from their experiences.
People in these types of groups tend to lean on each other, offer advise, including religious-based or faith-based ones.
DO WHAT YOU LOVE
one of the best ways to get through grief is to do things that you love. It could be anything from cooking to painting, reading, or playing music.
By doing what you love and dedicating time to it, you will find a way to get through your difficult time. You may not feel like doing anything in the beginning, but once you start, it can be rewarding for your mental and physical health.
When you're dealing with a loss, processing your grief and finding healing can be a difficult process. Start with the tips above to get yourself back on track.
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