Archive for January, 2016

Why the Resistance to Planning for Long Term Care?

January 26, 2016

Because people are people.  We tend to do the things that bring us pleasure and avoid those which cause pain.  A few examples: Thinking about a vacation, being at a child’s or grandchild’s graduation or wedding (I can see you grinning !), bringing home a brand new car, receiving a well-deserved award are all things that we happily do…because they bring us pleasure.

On the other hand: taking that new car to the shop for expensive repairs, going to the dentist, and yes even thinking about when you will need someone to help you go to the bathroom, are all things that we put off doing because…they cause pain.

Here is another one: I have had attorneys tell me that people often refuse to sign (they don’t actually refuse…they are just “too busy” to come in) wills and other estate planning documents they have already paid for.  Why?  Because the act of signing is perceived as acknowledgement of one’s own mortality…painful.

And another: “I can have way more fun now, with that new boat than I would if I saved the money for when I retire.  Besides (here come the rationalizations) I may not live that long, or the democrats/republicans/independents may later take it all away from me, or I may win the lottery and will not need the money for retirement.”

Planning for long term care: Thinking about what life will be like when I become dependent upon another person just to get through the day…this is something that I don’t want to do because doing so makes me uncomfortable (painful).  Yet I absolutely know (or would know if I had done any serious research) that putting something aside now, for when that inevitable day arrives, will make life so much easier for my family and for myself…but especially for my family.  Whatever your age and state of health may be when you first read this…I guarantee that neither will remain the same.

So what am I suggesting that you do?  Endure a little bit of “pain” today so that you and your family have vastly more “pleasure” (or at least a large reduction in pain) in the future.

  1. Do the “enduring now” by working with a specialist to explore whether or not long term care insurance makes sense for your individual situation.  You do not need to cover everything.  Even the smallest, most affordable policy will remove a huge burden from your family.  Really.
  2. If long term care insurance is not the best answer for you, consider other alternatives.  And act on them.
  3. Stop procrastinating.  Do it now.  Call me at 303-699-4172.  It doesn’t cost anything to talk.

Now you know.


Disclaimer: This eNewsletter and all links to other sources should not be construed as tax or legal advice because they are neither. Raymond Smith, The Long Term Care Specialist, does not give legal or tax advice.  Consult your attorney or tax advisor  for these matters.


© Raymond Smith, The Long Term Care Specialist, 2016