With the cost of eldercare rising, many are left wondering how they will afford to cover their expenses both short and long term. They ask themselves – How do I make my money last? How will I afford the cost of care? Once I sell my home what do I do with the proceeds to maintain my quality of life?
We are living longer and we are outliving our money. Funding elder care is one of the largest concerns we face, individually and as a nation. Chronic illness and fixed incomes have posed a challenge for many who are aging well into their 90s and beyond.
Certified Financial Planners offer a solution. With creative investment options increasing every day (life insurance chronic care riders, changes in long term care insurance, Medicaid qualified annuities) there may be more to our financial opportunity and options than you think.
Like any professional you choose to engage for services, it’s important to find the right person to fit your needs and personality. Does your CFP have experience working with older adults and their unique needs? Are they familiar with retirement planning? What percentage of their clients are over 62? Are they taking the time to listen to your needs and wants?
CFPs should create a customized plan to help you reach your goals, with the support and input of your trust Certified Senior Advisor you can have peace of mind that your money will serve you for years to come.
Before getting started, check to find out if the financial planner is fee-based or commission-based. Depending on your financial situation, they each have their benefits.
Feel like you need additional guidance or individualized support?
Our team of Certified Senior Advisors® and Certified Dementia Practitioners® has helped hundreds of older adults and their families. For more information or to schedule a free consultation, call 617-227-1600 or email firstname.lastname@example.org.
Dovetail Companies provides one point of contact for all services seniors may need when transitioning from their longtime home, minimizing stress and providing peace of mind to focus on the transition rather than the logistics. Dovetail Companies is the parent company to three subsidiary companies; Dovetail Support Services, Dovetail Financial and Dovetail Real Estate Group. For more information, visit www.dovetailcompanies.com or call 617-227-1600.