Are your parents prepared for long term care? If not, are you prepared to help?
Your parents might only think about golfing, birding or traveling around the country when you talk about retirement. They should also mind about health issues, though it may not hinder them from enjoying retirement years, it can punch a heavy dent in retirement savings.
“As we age, usually our medical or long-term care expenses increase, sometimes depleting our assets to a level of crisis,” says financial advisor Jake Lowrey, president of Lowrey Financial Group. “It’s important for retirees, and anyone planning for retirement, to become educated about what the pitfalls are and what they need to do to avoid losing their life savings” he added.
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http://www.forbes.com/sites/annabahney/2015/01/31/how-do-i-help-my-parents-prepare-for-long-term-care/
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