Tuesday, May 20, 2014

Planning For Long Term Care For The Aging

By Coleen Elkins

More people discuss their funeral plans than planning for the future  care during illness as they age. Most people when asked about the cost of care for the aging over a long period of time grossly under estimate the monthly cost.

Caring for an ill spouse can be very stressful, but some say that it strengthened their relationship. Caring for an aging parent can also be stressful. The average age of the child caregiver is 58. Often a time when they are beginning to think about their own retirement.

It is very important take time out from our daily lives to plan in the event of an illness. Are there funds for outside services such as a long term care facility? If not how will care be given. Will the care duties be shared by family members? What are the expectations of both the parents and the children?

Read more about planning for care of the aging here