When it comes to options regarding how to fund a future Long Term Care need, it is easy to be confused. If you are one of the many who find this process difficult to navigate, you are certainly is good company!
Let’s Start With the Basics
The Sandwich Generation, as defined by Wikipedia, is a generation of people who care for their aging parents while also supporting their children. Many Americans are finding themselves in this growing generation and struggle with the emotional, financial and time constraints that may arise. Some adults give up careers or the chance for forward advancement in order to care for their families. Others fight the financial burdens of their children’s education and their parent’s rising medical costs.
The Alzheimers Association released new Facts and Figures for 2013 this week. Currently, 1 in 3 seniors dies with Alzheimer's or another dementia. Deaths from Alzheimer's rose 68% between 2000 and 2010, while deaths from other major diseases, including the number one cause of death which is heart disease, decreased. In 2012, the costs of caregiving for those with dementia are estimated to $203 billion.
