{"id":7177,"date":"2019-11-14T12:32:13","date_gmt":"2019-11-14T17:32:13","guid":{"rendered":"https:\/\/www.figmarketing.com\/blog\/?p=7177"},"modified":"2019-11-14T12:32:24","modified_gmt":"2019-11-14T17:32:24","slug":"care-planning-a-personal-perspective","status":"publish","type":"post","link":"https:\/\/www.figmarketing.com\/blog\/care-planning-a-personal-perspective\/","title":{"rendered":"Care Planning: A Personal Perspective"},"content":{"rendered":"\n<p>As\nwe mature and experience life, with its hurdles and rewards, we rarely\ncontemplate long-term care (LTC) and the possibility that there may be a time\nwhen we\u2019ll need it. The truth is, most of us feel invincible until our bodies\ngive us a reason not to. Aging is cyclical. <\/p>\n\n\n\n<!--more-->\n\n\n\n<p>We may eventually care for our parents as they did for us when we were children. It\u2019s when a parent or spouse matures to the point of needing around-the-clock care that love and commitment become real. The burden of caregiving then falls to the spouse or children when existing finances can\u2019t cover the escalating costs of supervised care. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A Personal Perspective<\/strong><\/h2>\n\n\n\n<p>My father recently lost a battle to Alzheimer\u2019s disease, one that had been slowly escalating over the last nine years. The hints were there from time to time in the early stages. Our family overlooked these indicators with excuses. Over time, our family realized that something bigger was at play changing my father\u2019s perceptions and personality. Diagnosed with dementia early on, and later re-diagnosed as Alzheimer\u2019s disease and dementia, this disease would ultimately ruin my father\u2019s quality of life while complicating ours as his caregivers. <\/p>\n\n\n\n<p>In the US alone, an estimated 5.8 million people currently have Alzheimer&#8217;s disease, according to the Alzheimer&#8217;s Association. <strong><a rel=\"noreferrer noopener\" aria-label=\"This figure may rise to 14 million people by 2050 (opens in a new tab)\" href=\"https:\/\/www.nia.nih.gov\/health\/alzheimers-disease-fact-sheet\" target=\"_blank\">This figure may rise to 14 million people by 2050<\/a><\/strong> as life expectancy continues to increase.<\/p>\n\n\n\n<p>Alzheimer\u2019s disease is now the sixth leading cause of death and the only one in the top ten causes of death in the US that are on the rise. It\u2019s also the <strong><a href=\"https:\/\/www.medicalnewstoday.com\/articles\/282929.php\">only leading cause of death that medical experts can\u2019t cure, prevent, or slow down.<\/a><\/strong><\/p>\n\n\n\n<p>Finding care can be precarious and our family learned about the limited options available to us during the process. When you assume the role of caregiver there\u2019s an added emotional and physical toll that takes you by surprise. You lose your identity as a son, daughter, or spouse and become a nurse, boss, and therapist. <\/p>\n\n\n\n<p>With cognitive disorders, it becomes even more complicated when the patient associates you with things they don\u2019t want you to do for them (bathe, bathroom assistance, changing, and administering medicines). Their behavior becomes hostile and sometimes violent, changing how you relate to them and how they see you. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_1363372232-1024x447.jpg\" alt=\"stock image of long term care and care planning \" class=\"wp-image-7188\" width=\"568\" height=\"248\" srcset=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_1363372232-1024x447.jpg 1024w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_1363372232-300x131.jpg 300w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_1363372232-768x336.jpg 768w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_1363372232-1170x511.jpg 1170w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_1363372232-585x256.jpg 585w\" sizes=\"(max-width: 568px) 100vw, 568px\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Limited Options Without Care Planning<\/strong><\/h2>\n\n\n\n<p>Without a care plan in place, in-home care was our only option, since just a few care days per week can quickly add up. For instance, 44 hours of outside caregiving work <strong><a href=\"http:\/\/www.seniorliving.org\/insurance\/long-term-care\/\">can easily add up to more than $45,000 a year<\/a><\/strong>. We were<strong> <\/strong>only able to do four days a week to stay on budget for other medical and living expenses. The shortfall left gaps in service that our family members filled by becoming my father\u2019s caregivers.  <\/p>\n\n\n\n<p>The hours were mostly nights and weekends, usually after long days of full-time work, to assist with incontinence and mobility issues. I can\u2019t emphasize the amount of extra stress this adds to a family dynamic. These circumstances challenged us every day throughout the last several years of my father\u2019s life. Our lives became increasingly stressed as his condition worsened. Fortunately, moving my parents across the street two years ago eliminated the burden of distance. Geography can become an extra stressor for the family caregiver and <strong><a rel=\"noreferrer noopener\" aria-label=\"long-distance caregivers reported the highest average annual expenses. (opens in a new tab)\" href=\"https:\/\/www.nap.edu\/read\/23606\/chapter\/6\" target=\"_blank\">long-distance caregivers reported the highest average annual expenses.<\/a><\/strong> <\/p>\n\n\n\n<p>In 2016, the National Alliance for Caregiving showed that <strong><a href=\"https:\/\/www.thinkadvisor.com\/2019\/09\/23\/the-early-retirement-your-clients-didnt-plan-for\/?slreturn=20190825105941\">roughly one in six Americans are taking care of a disabled family member.<\/a><\/strong> Relatives who step up to the responsibility often experience relocation, house reconfiguration, additional expenses, and of course, work interruption.<\/p>\n\n\n\n<p>There are many options for care and having an LTC policy in place for my parents would have radically redefined our approach to my father. It would\u2019ve allowed us to remain his family by having professional caregivers most of the time. In exhaustion, we grew increasingly impatient with his behavior. It was concerning that the hostility my father expressed regularly would tarnish our positive memories of him. We worked to remember that our frustrations should be directed at the affliction and not the afflicted.<\/p>\n\n\n\n<p>Once hospice stepped in for the last six weeks of his life, we were able to re-group and go back to our family roles again. We have no regrets for doing our part to assist my father during his decline. He never intended to be the one to become helpless and entirely dependent on the family he had served his whole life. Our difficulties stemmed from balancing multiple jobs and regular commitments. It became physically exhausting over time and eventually burnout set in. My mother bore the brunt of it. Confined to the same household with him each day, getting little rest, and dealing with health issues herself, she managed remarkably. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img decoding=\"async\" src=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_550949203-1024x1024.jpg\" alt=\"long term care and care planning details\" class=\"wp-image-7187\" width=\"347\" height=\"347\" srcset=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_550949203-1024x1024.jpg 1024w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_550949203-150x150.jpg 150w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_550949203-300x300.jpg 300w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_550949203-768x768.jpg 768w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_550949203-1170x1170.jpg 1170w, https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/11\/shutterstock_550949203-585x585.jpg 585w\" sizes=\"(max-width: 347px) 100vw, 347px\" \/><\/figure><\/div>\n\n\n\n<p>The point for sharing this personal perspective is to emphasize setting aside an allocation for LTC now to protect assets in retirement. Proper planning is an important component of financial considerations and LTC plans can help alleviate future illness and disability burdens. It also reduces the amount of physical, emotional, and financial responsibility for spouses and children alike.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Final Thoughts<\/h2>\n\n\n\n<p>There are several options for aging family members with specific care needs, which include <a rel=\"noreferrer noopener\" aria-label=\"continuing care retirement communities, assisted living facilities, group homes, and nursing homes (opens in a new tab)\" href=\"https:\/\/www.nia.nih.gov\/health\/finding-long-term-care-person-alzheimers\" target=\"_blank\"><strong>continuing care retirement communities, assisted living facilities, group homes, and nursing homes<\/strong><\/a>. They all come at a cost and there\u2019s no one-size-fits-all rule in this area of life. <\/p>\n\n\n\n<p>Putting off investigating care planning options today will only compromise assets down the line. The reality is that healthcare is becoming \u00adincreasingly more expensive. Even a simple care plan or a versatile indexed universal life (IUL) policy may cover some of the costs of in-home caregiving services that could ease serious financial or emotional burdens for family members later in life. <\/p>\n\n\n\n<p>Having a care plan in place would\u2019ve made a difference in how we were relating to my father during his decline. I played the roles of son and caregiver and both were very difficult at times. My family is glad that my father is no longer suffering, but we miss him tremendously. We\u2019re recalling all of the wisdom, gifts, and experiences he imparted to us before Alzheimer\u2019s disease stole him away.  <\/p>\n\n\n\n<p>It\u2019s important for clients to consult with a financial professional that understands care planning options with access to a variety of programs, methods, and choices. This way, a customized plan that fits personal needs can be built and allocated over time. <\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"www.figmarketing.com\"><img decoding=\"async\" src=\"https:\/\/www.figmarketing.com\/blog\/wp-content\/uploads\/2019\/01\/figlogo17-tri-red-150x150.png\" alt=\"Financial Independence Group logo\" class=\"wp-image-5250\"\/><\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>As we mature and experience life, with its hurdles and rewards, we rarely contemplate long-term care (LTC) and the possibility that there may be a time when we\u2019ll need it. The truth&hellip;<\/p>\n","protected":false},"author":12,"featured_media":7178,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[364,362],"tags":[402,174,112,316],"acf":[],"_links":{"self":[{"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/7177"}],"collection":[{"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/comments?post=7177"}],"version-history":[{"count":14,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/7177\/revisions"}],"predecessor-version":[{"id":7198,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/7177\/revisions\/7198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/media\/7178"}],"wp:attachment":[{"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/media?parent=7177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/categories?post=7177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.figmarketing.com\/blog\/wp-json\/wp\/v2\/tags?post=7177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}