More and more people are becoming aware of the benefits of a healthy lifestyle. Those who eat well, exercise regularly, and steer clear of things like smoking and drinking too much often times avoid serious health problems and live longer lives.
The above having been stated, some people who live a healthy lifestyle automatically assume that they don’t need to worry about budgeting for long-term care. This may be a mistake.
First of all it should be noted that there are indeed individuals who never need living assistance. However, many of them did not reside in an assisted living community or a nursing home because they passed away before they reached an advanced age.
Some people who are residing in nursing homes or assisted living communities have physical problems that prevent them from taking care of their day-to-day needs on their own. However, many are suffering from dementia caused by Alzheimer’s disease.
Regardless of how you live, if you each your 85th birthday and beyond you may indeed be one of the 40% of people in this age group who are suffering from Alzheimer’s disease.
The suggestion here is that individuals who do in fact keep themselves fit may well live longer, and when you do it becomes even more likely that you will need long-term care eventually.
Of course it is wise to take good care of yourself. However, at the same time you don’t want to be lulled into a false sense of security. Preparing for potential long-term care costs is important for everyone, even if you are a model of good health on the day that you retire.
Mark S. Eghrari, Estate Planning Attorney
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