📧 The Hidden Costs of Not Planning Ahead

Hello Family, Michael here..

A few days ago, I ran into someone I hadn’t seen in years. As we caught up, he shared something that left me thinking. His parents, now elderly, need more support, support my friend can’t provide due to his own responsibilities. They now live in an assisted living facility that costs more than $6,000 a month (and in some states, it can be even more).

We agreed that in our households, this topic or possibility was never discussed or planned for when we were younger. Back then, it was common for families to care for elderly parents or grandparents at home. But times have changed. With busy schedules, demanding careers, and growing responsibilities, many families can no longer provide the same level of care.

Now, this unexpected expense is taking a toll on the entire family, both financially and emotionally.

With inflation rising and assisted living costs climbing higher every year, the need for a Long-Term Care (LTC) strategy has never been more critical.

The image below highlights the key reasons why, as parents in a special needs household, having an LTC strategy is essential for protecting your family’s future.

This hit close to home because, for families like ours, planning for future care often gets overshadowed by the immediate needs of raising a child with special needs. But here’s the hard truth, our care directly impacts theirs.

Take a moment today to think about this:

💭 If I need care someday, who will take care of me?
💭 How will my child’s life and resources be affected by those costs?
💭 Will the financial burden fall on my family because we didn’t plan ahead?

If you’re ready to discuss what this could look like for your family, let’s start the conversation. Schedule a call with me today, I’m here to help.

P.S. Planning ahead isn’t just practical; it’s one of the most loving things you can do for your family. Btw, this applies also to short term financial concerns as well, like the “What If's”. This may be resolved with a conversation around income protection.

P.P.S. I’d love to hear your thoughts on this, feel free to reply and share your story or ask questions. Your experiences inspire these conversations, and I’m here to support you.