What Happens To Your Money When Your Health Isn’t So Healthy?

One of the downsides of financial planning is discussing topics most people would love to ignore.


Retirement is easily one of the greatest things our older generations have to look forward to – but the realities of it can be unpleasant.


Sure, we all want to picture a debt-free retirement where vacations are plentiful, but the story doesn’t unfold like that for many of us. 


I’m talking about one of the largest expenses you might encounter in retirement – health care. 


Statistically, when you reach 65 years of age, there is a 50% chance or higher that you’ll require some form of custodial care. And this kind of care is something no one wants, but is desperately needed when it is needed.  


And, to make this even more complicated, nursing care is not typically covered by Medicare.


That’s a fact that most people are completely unaware of.


So that means that you may have to pay out of pocket to get help with basic functions like eating, dressing, bathing, etc., and home care nurses aren’t cheap. Nursing home care isn’t cheap either, the average around the entire country is about $100k a year! Yes, I said around $100,000 per year. And the average stay is around 3 years, so that’s a potential cost of about $300,000!


Like I said, it’s not a pleasant topic, but it still needs to be in the back of your mind. 


Can you say that you have a plan in place if you require this kind of care? If not, then we can help you figure out where to start. Call us at 407-960-4052 or click here to set up a 15-minute strategy call with us.




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