Updating Your Parents Retirement Plan

Updating Your Parents’ Retirement Plan – Financeforhealth.com

One of the many wonderful realities that we now have because of longer life spans is that we get to spend more time with our parents. Thanks to medical advancements and increased awareness when it comes to health and wellness, people are living longer than before. Longevity is a feat that should be celebrated, but along with it comes the lack of preparedness that some might have. Current retirement plans might not be enough to cover the extra years. A good example of this is how people delay buying long term care insurances.  When 7 out of 10 people end up needing some form of long term care after their 65th birthday, children would do well to have that “retirement” conversation with their parents as early as now. What is surprising, however, is that not many families have had this talk despite more and
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