As we age, many individuals may require long-term care support or assistance with daily tasks. However, forecasting the extent or type of care required can be challenging. The necessity for long-term care can surface unanticipatedly, as in the aftermath of a heart attack or stroke.
In most instances, though, the demand for long-term care progressively develops. As individuals age and become more fragile or as an ongoing serious illness or health condition worsens, the level of care needed escalates.
While the prospect of an extended lifespan is undoubtedly welcome, it also presents the challenge of funding our future care needs. Who shoulders the responsibility of caring for us in our twilight years? How does one finance this inevitable need for long-term care?