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What Are My Long-Term Care Options?

What Are My Long-Term Care Options?

There are many more LTC solutions available today than there were just a few years ago. 

In the past, you had only two LTC options. Either you received support from a spouse at home or you were thrust into a full-time nursing home and received care from nurses and doctors. Not any more!

Staying at Home

The good news is that people can safely stay at home much longer than they used to if they have the proper care. One solution is to hire a home-health aide caretaker. Home-health aides provide a variety of services including, cooking, cleaning, laundry, and providing assistance with eating, bathing, transportation, and exercise.

Moving in with Your Children

If your children are willing and able to care for you, this is certainly a viable option. However, moving in with children involves a lot of practical questions. Will someone be home or available 24 hours a day? Is there an extra bedroom? Is the bedroom on the first floor? Are there pet allergies? How close is the nearest hospital? Are there sidewalks for exercise?

Adult Communities

These communities do not provide LTC solutions per se, but are perfect for couples looking for a “new lifestyle.” Adult communities are developments typically built for older residents who want a social community for them and their peers.

Shared Housing

Shared housing is ideal for single or widowed individuals who are in good-to-fair health and don’t want to live alone. Residents can take advantage of shared costs and reap the social benefits of having roommates.

Adult Day Care Centers

Adult day care centers provide a place for seniors to gather during normal working hours, transportation to and from the facility, food, care, and supervision. Just as importantly, they provide companionship and a positive social atmosphere.

Assisted Living Residences

Assisted living residences vary dramatically, from small bed-and-breakfast style homes to high-rise apartment complexes and everything in between. These residences are designed for temporary living—the average stay is approximately two years.

Nursing Homes

Nursing homes provide two types of care—skilled-nursing care and personal care. Skilled-nursing is provided 24 hours a day by licensed medical staff under a doctor’s supervision. Custodial services include help with eating, dressing, toileting, and bathing. Many nursing home residents only need custodial care.

The proceeding blog post is an excerpt from The Six-Day Financial Makeover: Transform Your Financial Life in Less Than a Week!, available now on Amazon.


About the Independent Financial Advisor

Robert Pagliarini, PhD, CFP®, EA has helped clients across the United States manage, grow, and preserve their wealth for the past 25 years. His goal is to provide comprehensive financial, investment, and tax advice in a way that was honest and ethical. In addition, he is a CFP® Board Ambassador, one of only 50 in the country, and a real fiduciary. In his spare time, he writes personal finance books, finance articles for Forbes and develops email and video financial courses to help educate others. With decades of experience as a financial advisor, the media often calls on him for his expertise. Contact Robert today to learn more about his financial planning services.

Reach us at (949) 305-0500