We are all aware of the benefits that go along with a healthy lifestyle. As they say, an apple a day keeps the doctor away and when you feel good you really enjoy an enhanced quality of life.
Entering into your retirement years on a positive note feeling good physically is fantastic, and it is certainly a goal that we should all strive to attain.
The above having been said, it is wise to be pragmatic when looking ahead toward the twilight years that will follow your active retirement years.
When you are in good health as a senior citizen you may not take the possibility of incurring long-term care expenses that seriously. However, good health results in longer lifespans. As you get older, it becomes more likely that you will ultimately need living assistance.
It is also useful to remember the fact that not all people in nursing homes are in need of assistance because they cannot get around physically. Many people suffer from mental incapacitation, and according to the Alzheimer’s Association somewhere in the vicinity of 40% of people who are at least 85 are suffering from the disease.
We are not presenting a gloom and doom scenario. We are simply trying to emphasize the fact that it is important to budget ahead for the possibility of incurring long-term care expenses late in your life. The sooner you start making preparations for this contingency the better, because assisted living is extremely expensive and you will not be in a position to react when you are among the oldest old.