Acknowledging the Inevitable: Long Term Care
Acknowledging the Inevitable It is unrealistic to believe that "I'm not going to need long-term care; or, if I do, then my kids will take care of me." “No one plans for a loved one to experience a long-term care event or caregiving for an aging relative just as no one plans for a pandemic," said Marguerita Cheng, CEO of Blue Ocean Global Wealth Management. It is unrealistic to believe that "I'm not going to need any care or, if I do, then my kids will take care of me." - it's not that simple, The Cost of Assisted Living is Rising The cost of assisted living is rising, making it increasingly difficult for seniors and their families to finance long-term care. With the cost of assisted living averaging around $4,500 a month in some states, many seniors are turning to alternative options for financing. In 2021, the national median cost of a home health aide was $5,148 per month, and the national median cost of a private room in a nursing home was $9,...