caregiver guide

The Thrifty Caregiver’s Guide to Wise Spending

Let us all agree that caregiving costs a lot of money and that we need to take decisive measures against bankruptcy now. aims to provide valuable information in the form of budgeting tips, financial solutions, and expert advice to every caregiver out there struggling with the demands of the task.   We have elderly spouses left with little resources after caring for their partners and adult children barely able to safeguard their retirement plans. We need to avoid this from happening to the next generations by encouraging everyone that you love to secure a long term care plan as early as now. Money does not grow on trees, and no one understands this more than the caregiver wrestling with the costs of care. In fact, 1 in 5 caregivers experiences financial problems brought about by the demands of the task. Moreover, caregivers who

In-depth Discussions: Everything You Need to Know About Long Term Care

Long term care, for many individuals, is still a vague concept. Because of this, many individuals end up delaying planning for the possible repercussions. After all, it is not secret that cost of long term care in the country is reaching new heights. Combine that with the fact that 70% of individuals turning 65 will, at some point, require care services, and we have an urgent and potentially disastrous situation on our hands.   This is why Finance for Health seeks to address these issues. We still have time to cover our future; we only need to start now. The confusion and lack of urgency must be changed. To do so, we have gathered in-depth information on what long term care is and how people can navigate it.   If you have any questions and inquiries, please feel free to let us know in

Consider These LTCI Factors Before Making a Purchase –

We all prefer to make sure that a product meets our standards before making a purchase. Especially for long term care, where we all need to make sure we’re getting the proper care and attention if and when we need it. And the most important factors to consider when it comes to long term care insurance (LTCI) purchases are typically about the price, quality, and purpose of the product. Buying the right LTCI for your needs means finding a policy that will fit your budget, will answer your LTC needs, and not be the cause of future problems. Identifying and addressing these crucial points beforehand will allow you to both save time and money, freeing yourself up to focus on other important details when it comes to retirement planning. Consider these LTCI factors before buying a plan: 1. Can I afford to buy LTCI

Caring for Someone Costs a Lot –

Long term care is an inevitable stage in every person’s life. At one point or another, you have become the caregiver and the care recipient, though you might not have noticed it at that time. Why? Because caregiving is not just about 24/7 specialized care. It is not limited to round-the-clock monitoring, injections, or feeding tubes. If you are the person who buys the groceries, cooks the meals, or cleans the house for someone with special needs, then you are a caregiver—whether you realize it or not.   In the United States, approximately 43.5 million individuals are providing unpaid long term care to an adult or a child. 34.2 million of this number provides care to an adult age 50 and older in 2015. Many people do so to avoid the high prices of care (refer to this link for the cost of long
long term care insurance

Wise Saving: Is Long Term Care Insurance a Smart Buy? –

The high cost of long term care services is one of the causes of a financial downfall. Most people do not have a comprehensive long term care plan, so when an event suddenly forces them to avail skilled nursing care or in-home care, they have no choice but to pay for it out-of-pocket.   Long term care insurance is a product in the industry which assists people in paying for care needs that would otherwise be too costly to fund on their own. In purchasing a policy, you could choose from three long term care insurance types which are all tailored to fit various budget ranges and care needs. So instead of relying on your savings to pay for nursing home care expenses, your long term care insurance policy will cover your incurred expenses.   However, the issue of long term care coverage remains

Credit Card Debt at 1 Trillion Dollars –

In the United States of America, the most popular way to pay for things is with a credit card. The US economy has moved from a cash based system to a credit based system. As a result, the total debt in the United States because of credit cards has risen to nearly 1 Trillion Dollars. In 2015 by itself, the national credit card debt rose 71 billion dollars.   This makes the United States of American the leader in credit card debt, with more debt than the next 5 countries combined. The reason for this is that most people across the Asian continent do not pay by credit, and rather by cash. For example, in India, most people use cash for every purchase they make in their lives. In other countries, the economy is not safe enough for people to get loans and mortgages,

Plan Your Future with Long Term Care Insurance –

Some young people think investing in a long term care insurance (LTCI) policy is unnecessary at this point of time since they are still strong, healthy and earning a regular paycheck. They think by the time they would require long term care (LTC) they have stashed away millions of dollars. Unfortunately, that is just too close to impossible because statistics show that majority of Americans who have retired had less than $100,000 in savings. This is not even enough to cover a year’s stay in a nursing home especially if one is living in the mid-Atlantic region where the cost of care is soaring rapidly. Having an LTCI policy will enable an individual to pay his LTC expenses whether these were incurred at home, in a nursing facility or elsewhere. It is a big mistake to think that an LTCI policy can be purchased

When You Just Need to Make an Investment –

You can do without certain things in life but some are just too indispensable not only to your future but your family’s welfare, as well, like long term care insurance (LTCI). Although many people think this insurance product is optional, long term care (LTC) specialists think otherwise. Every year the cost of care increases by at least 5%, and thus paying for care out-of-pocket is next to impossible. Most people who bravely took the risk of self-insuring wound up wiping out their assets before turning to Medicaid. Elder care specialists and LTC professionals have never failed to remind the public to plan their future health care needs wisely in order to avoid sacrificing their hard-earned money to prohibitive long term care (LTC) costs. Now one of the ideal ways to plan their LTC, according to financial advisers, is to invest in a comprehensive LTCI
Parkinsons Disease

Understanding Parkinson’s Disease and Dealing with It –

Michael J. Fox, Johnny Cash, and more recently, Muhammed Ali—these are some of the famous faces claimed by Parkinson’s disease. We have all heard about it; the neurodegenerative brain disorder that slowly takes a person’s ability to regulate body movements and emotions. While most of us watched these famous people live with the disease through the TV and computer screens, there are those who have had front row seats to the disease changing their family member’s life.   Parkinson’s disease can take a toll on you and your family physically, emotionally, mentally, and financially. While long term care insurances can greatly alleviate the physical and financial burden, the emotional and psychological load is a bit more difficult to deal with. From the patient to the people closest to him or her, Parkinson’s disease can alter lives. Early Detection Similar to many diseases, early detection

Tips for Evaluating Long Term Care Insurance Plans –

Long term care is a concern for the majority of us, and it is up to us if and when we are going to prepare for it. A select few are able to cover the expenses through their own savings and assets, but for the average American, the usual spending could be close to impossible to meet. It is no secret that long term care is expensive. If we are not careful, we and our loved ones could end up having to deal with a huge debt. However, it doesn’t have to end in a financial mess. With proper planning, coverage for your long term care could be uncomplicated. After all, there’s nothing a great and well-thought-out plan can’t fix. A great option to consider is long term care insurance. Through an LTCI policy, a person is provided the appropriate care by professionals without
Show Buttons
Hide Buttons