The 800# gorilla in the room that nobody talks about

By
Education & Training with Agape Long Term Care/Agape Real Estate 590513

If I asked you what the number one concern for our nation will be in 10 years, you'd probably list things like Social Security, Medicare, the economy, health care, and retirement security.  But I'll bet no one even thought of long term care (LTC).  I'm afraid that LTC is the 800# gorilla in the room that nobody talks about.  Why not?  One word...denial! 

This is important, nay critical, to both your clients, and you and your family.  Why?  Because if one doesn't plan for LTC in their future, it could ruin everything that they planned for.  It could devastate your family.  How?  If you had to spend just $78,000 a year on LTC, the 2008 national average for a year in a nursing home, for 3 ½ years, the average stay in a nursing home, it could put a sizable dent in your nest egg.  For some, it would wipe them out. 

The questions to ask are, "If something happened to you, who would take care of you, and how would you pay for it?" and "If a bus hit you today and you needed care, where would that money come from?"  Most of the time it would come from everything that you have worked for in  your life to accumulate, your savings, your retirement, and even your home.  In short, your nest egg. 

There are many and varied ways to deal with this issue, but my intent is to get you thinking.  Plan for the unthinkable, do the fire drill.  Have a plan, consult with experts on how to deal with this properly.  If you want to serve your clients, and not just the senior clients, you need to have some knowledge of this and to bring it to their attention.  Real estate and long term care are integrally connected and should be recognized. 

Think about it!

Skip Frenzel

Agape Long Term Care

Comments (1)

Terrylynn Fisher
Dudum Real Estate Group - BuyStageSell.com - Walnut Creek, CA
HAFA Certified, EcoBroker, CRS, CSP Realtor, Etc.

Skip, you are so right, we ignore it but it's looming just around the corner and too late when you need it if you don't have it in place.  Tragic. 

Dec 06, 2008 06:55 PM