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Elder Law Minute – Assesing the Biggest Threat

In this Elder Law Minute, Wes Coulson discusses the biggest threat to your life savings. He talks about the challenges facing older Americans, such as increasing nursing home costs.

 

 

Hi, I’m Wes Coulson and this is your Elder Law Minute. In our brochure on ‘Protecting Your Life Savings’, which by the way we’ll be happy to send you one, we talk about the threat of losing your life savings to long-term care costs as being the greatest financial threat that older Americans face.

Let me tell you a little more about that threat. According to a study by the United States Department of Health and Human Services, if you’ve made it to age 65, there’s about a 40% chance that you’re going to later need nursing home care. Alzheimer’s is being referred to as something that is going to reach epidemic proportions between now and 2050. The cost is really scary. If you’re 75 now, a five year nursing home stay, starting at age 80, figures to cost you about $425,000.  If you’re only 65 now, figure on a staggering $670,000 or more. It’s simply put – too big of a threat to ignore. That’s why I will say that you need an asset preservation plan. If you don’t have one, you’re not prepared for the Elder Care Journey. Thanks!

Veterans Benefits O'Fallon ILFor Immediate Help

If you or a loved one needs immediate help with a planning matter or legal issue, please contact us, and we will get back to you promptly.

774 Sunset Blvd Suite 200
O'Fallon, IL 62269
IL: (618) 632-7000
MO: (314) 567-9292

1901 South Fourth Street,
Suite 211, Effingham, IL 62401
(217) 330-5500

Fax: (618) 632-7333

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Join us for a FREE Workshop

 

Free WorkshopsIf you have reached age 65, there's about a 45% chance that you will eventually need long-term care.

Join us for one of our highly informative and FREE workshops and find out how you can protect your family's hard-earned life savings.

Visit Free Workshops for more information.

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