By haroldllus12907327, Jun 29 2015 07:25PM
Hi, my name is Harold Lustig, and I am very concerned about the emotional and economic impact of longevity. Through this blog I plan to share my ideas on how you can protect yourself and your family from the financial crises associated with long term care. I've been a financial planner for over 30 years and love sharing the things I've learned. I also have a book on how to pay for long term care without going broke coming out soon, Naked in the Nursing Home.
You may thing long term care is something you'll never need, but here's my theory:
Only two things can happen, we can die or grow old. The chances of our needing care are either 0% or 100%. If you die first then obviously your need for long-term care will be 0%. Otherwise, you need to make sure your assets are in order and structured so that you don't outlive them, as my father did. If you grow old, you will eventually lose your physical or mental capabilities and the need for care becomes 100%. In Dr. Whitehead's book, The Myth of Alzheimer's, he says that Alzheimer's disease is really the brain aging.
In this blog we're going to talk about issues around aging. We'll put some of them in the context of our 90 year old "Aunt Thelma", and her running battle with old age. We'll see how we, as a nation, can solve this problem. I'll provide you resources that will help you cope when a loved one needs help and how you can pre-plan to protect yourself and your family. Until Congress wakes up to the magnitude of this issue I will be your source for how how to financially cover the cost of care.
We'll also have some fun conversations along the way.
Talk to you soon.