As February 29th approaches for the first time in 4 years, Leap Day serves as a reminder that time is a precious commodity. When it comes to retirement planning, starting early is key. The extra day in February pushes us to evaluate our financial goals and consider how we can make the most of our time before and throughout retirement.
In a recent appearance on the Art of Aging Podcast Tom Beauregard, Founder and CEO of HCG Secure, discussed the need for additional family and planning supports in the long-term care and aging spaces, alongside affordable yet meaningful insurance benefits.
Long-term care can be a significant financial burden for individuals and their families. The good news is the U.S. tax code provides some deductions that can help alleviate this financial strain
Additional Medicaid expansion could help ease some of the stress around receiving care, but this can be a challenge given workforce shortages in the long-term care and caregiving spaces, as well as availability of additional funding. The private sector has an important role to play in easing some of the challenges to accessibility.
It’s important to enjoy this time with those you love most, and to take proper precautions to help ensure your safety and joy throughout the holidays.
November is Long-Term Care Awareness Month! It’s the perfect opportunity to plan for your long-term care needs, and discuss these needs with your loved ones; ensure everyone understands your wishes, and what roles they may play in helping you realize your care goals.
According to the Pew Research Center, 23% of American adults are now members of the Sandwich Generation, and they are facing an immense financial burden. This population spends $10,000 and 1,350 hours caregiving annually, on average.