Have you been affected by the financial crisis?
With rising costs of healthcare, uncertainty with Medicare and Social Security, fiscal cliffs, debt ceilings, a growing elder population and the unemployment of working age family members, it’s a wonder how any of us are prepared to survive into our old age.
A recent survey by Volunteers for America stated that more than half of younger Americans feel that they will be called upon to look after an elder relative in their lifetime and that most of them are not prepared to meet that challenge. Eighty five percent of those surveyed blame the workplace environment for this lack of ability to meet the obligations to their aging family members. These are the people that will soon be in the same trouble as more and more enter retirement age.
The first of the baby boomers turned 65 in 2011. This constitutes for about 37 million seniors living in the United States right now. By 2030, just 17 years away, that number will reach 71.5 million people.
Is America prepared for this large section of the elderly?
What have you done to prepare for your senior years?
What have you done to prepare for your senior years?
This just illustrates the importance of planning for your future. What will you do should you become ill in your mid-sixties? Do you have the resources to survive without help? Have you planned for living to the age of 80 should you incur a serious health issue?
With the miracles of modern medicine, we are all living longer. In the next 20 years, it is not a stretch to see more and more people reaching 100+ years of age. This could mean living for thirty-five years after retirement age and that’s a whole other lifetime. Prepare yourself for your future.
Speak with an elder law attorney, such as the ones found at Kabb Law firm, and gain the peace of mind that your autumn years will go by smoothly surrounded by the ones you love in the sanctity of your own home.
For more information, contact us at: 216.991.KABB (5222).
