When you sit down and imagine your future, what do you see? Are you enjoying your retirement in a warm weather location or perhaps in your current home close to family and friends? Are you participating in the activities you’ve always enjoyed?
Gazing into the proverbial crystal ball, we surely see our ideal futures playing out before our eyes and while we don’t actually have the power to predict the future, we do have the power to plan ahead.
When planning for the future, many people focus on saving for retirement—which is an important part of your planning—to make sure they can afford the lifestyle they want to lead when the time comes. Another consideration that often goes overlooked is planning for your future care and how to protect your hard-earned assets in retirement. To help ensure that you can lead the lifestyle that you want, consider adding long-term care insurance to your retirement planning mix.
Now, you might be thinking, “Why should I get long-term care insurance when Medicare will take care of me?” In reality, Medicare won’t likely cover all of your LTC expenses because the amount it will cover is limited by both situation and time. This is when long-term care insurance comes in to play. LTC insurance will provide you daily benefits that can be applied to a variety of care settings based on your preferences and needs. Additionally, these daily benefits help protect your retirement assets from depletion rather than reallocating those funds to pay for long-term care.
So as you look into your crystal ball to the future and envision how you will spend your golden years, consider also how you can best protect your preferred lifestyle and assets. We can predict you’ll be glad you did!