It is easy to think about and plan for the fun things the future may hold. Planning a weekend getaway may be infinitely more exciting than planning a presentation for work. It is human nature to procrastinate preparing for difficult times or events because this may mean a person must think about all the things that could go wrong. Perhaps this is why so few people in Massachusetts take the time to do long term care planning.
When seniors become too frail or incapacitated to take care of themselves, it may be too late to do any effective planning for long term care. The time to make those plans is years before, ideally beginning during the prime earning years between ages 25 and 45. However, a recent report reveals that long term care planning is not always near the top of the list of priorities for many individuals.
In fact, many young adults surveyed admitted that paying for extended medical or personal care in their later years was far below other matters, such as paying off their debt and having money to travel when they retire. Older respondents to the survey, those over age 50, agreed that traveling was a more urgent expense than long term care, but their main concern was simply to be able to cover their living expenses when they retired.
Many in Massachusetts do not really understand what it takes to establish a secure future after retirement. The type of preparation needed to meet goals like traveling, living comfortably and leaving a legacy must begin early and often aggressively. Affording quality long term care is not something that happens by luck, and many find it is a delicate balancing act that is best started by consulting an attorney with experience in long term care planning.
