“It is never too early to begin thinking about your future long term living needs.”
The above quote is attributed to Edward G. Rendell, Governor of Pennsylvania, in a letter he wrote to Pennsylvanians imploring them to meet their future long term living needs by planning ahead. A nursing home today that costs $168 per day ($61,320 per year) will cost $349 per day ($127,480 per year) in 15 years if inflation is 5% per year. While those figures are staggering, the actual cost of nursing home care has been increasing at an annual rate of 8%. Because of the significant improvements made in health care, we are living longer today which increases the likelihood that we will need long term care.
Keystone Wealth Strategies LLC, located in Exton, PA services individuals and businesses in the Philadelphia region. We realize that long term care planning is about protecting your retirement assets, protecting your children and other family members from being forced into being care providers, and maintaining ones independence, dignity and financial security.
We realize that long term care is a personal responsibility and requires planning ahead to avoid being dependent upon Medicaid. You may also be in a position to help an older parent plan for his or her long term living needs. For most people, it means having enough money to pay for whatever care is needed, whether it be home care, assisted living or skilled nursing care. No time is better than the present to develop a strategy. As we age, we are more susceptible to unforeseen medical conditions. These unforeseen events can accelerate the need for long term care and also limit our options to pay for the care.
After completing a thorough analysis of your current financial condition and your estate planning and retirement goals, we will share with you the benefits and costs of long term care insurance, self insuring for long term care, long term care programs that provide a return of premium if long term care is not needed, annuity programs that permit withdrawals for long term care without incurring surrender charges, and other available strategies. In other words, we will create an individualized plan for you to better manage the cost of care, work within your budget restraints, lessen the care giving toll on your loved ones, and to provide you with options on how to better maintain your independence and dignity.
The above quote is attributed to Edward G. Rendell, Governor of Pennsylvania, in a letter he wrote to Pennsylvanians imploring them to meet their future long term living needs by planning ahead. A nursing home today that costs $168 per day ($61,320 per year) will cost $349 per day ($127,480 per year) in 15 years if inflation is 5% per year. While those figures are staggering, the actual cost of nursing home care has been increasing at an annual rate of 8%. Because of the significant improvements made in health care, we are living longer today which increases the likelihood that we will need long term care.
Keystone Wealth Strategies LLC, located in Exton, PA services individuals and businesses in the Philadelphia region. We realize that long term care planning is about protecting your retirement assets, protecting your children and other family members from being forced into being care providers, and maintaining ones independence, dignity and financial security.
We realize that long term care is a personal responsibility and requires planning ahead to avoid being dependent upon Medicaid. You may also be in a position to help an older parent plan for his or her long term living needs. For most people, it means having enough money to pay for whatever care is needed, whether it be home care, assisted living or skilled nursing care. No time is better than the present to develop a strategy. As we age, we are more susceptible to unforeseen medical conditions. These unforeseen events can accelerate the need for long term care and also limit our options to pay for the care.
After completing a thorough analysis of your current financial condition and your estate planning and retirement goals, we will share with you the benefits and costs of long term care insurance, self insuring for long term care, long term care programs that provide a return of premium if long term care is not needed, annuity programs that permit withdrawals for long term care without incurring surrender charges, and other available strategies. In other words, we will create an individualized plan for you to better manage the cost of care, work within your budget restraints, lessen the care giving toll on your loved ones, and to provide you with options on how to better maintain your independence and dignity.
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