Will Your Children Really Take Care Of You?

When asked about how they intend to handle a long term care event, many future retirees expect some PAY BACK from others - including their lovable children...

But where do they (the children) live? Are they close by? Do they work? In 20 years, what will they be doing? Working toward retirement? Getting your grandchildren through college? Planning weddings? Enjoying grandchildren of their own? Even if they could put their life on hold and take care of you, do you want them to actually give you a bed bath and wipe your behind or would you rather they oversee your care using professional caregivers?

Note: my boys object to cleaning their dishes, are they really gonna want to clean me? Never mind - some sobering facts everyone should know:

  • 70% of the population will need LTC (USA Today)

  • In a married couple, there is a 91% chance that at least one spouse will need LTC (USA Today)

  • Inflationary growth of health care costs is 5.5% (Bloomberg)

Future care costs in Illinois are nothing to sneeze at...

Questions you should ask:

  • How do I want to receive care?

  • Where do I want to receive care?

  • Who do I want to provide the care?

  • How will my family or I pay for the care?

  • How do you feel about your current LTC plan?

  • How are you going to pay for a long-term care event?


There are many ways to plan for a long term care event. Options include self-funding, traditional LTC insurance, asset-based long term care insurance and certain, carefully created cash value insurance policies (LIRPs). Speak to an insurance solutions professional or an RICP (Retirement Income Certified Professional) to learn the approach which best suits your unique situation.

Perhaps the greatest benefit of handling a potential LTC situation/need is that it can allow loved ones to care ABOUT you…instead of having to care FOR you.

That's just the way it works!

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Darryl Rosen MBA, RICP

Darryl Rosen is the founder of Rose Advisory Group, and operates www.RealRetirementAdvice.com as a way to help others create their ideal retirement. He is obsessed with helping people create safety, simplicity and strength in their financial future. Darryl’s clients enjoy his straight-forward, plain-spoken guidance, strategies to minimize taxes and ability to generate investment returns, while minimizing risk so his clients can sleep at night! Darryl is licensed to provide guidance on securities and insurance solutions and has achieved the highly desired Retirement Income Certified Professional (RICP) designation.

Darryl is the creator of the well-known SECURiMENT™ Retirement Planning Method. A simple to understand and implement planning method that demystifies retirement planning so that people can take action. Visit Rose Advisory Group to learn more! 

Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor.  BCM and (Rose Advisory Group) are independent of each other.   Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. Information provided is not intended as tax or legal advice, and should not be relied on as such.  You are encouraged to seek tax or legal advice from an independent professional.