The 2020 pandemic put the spotlight on the in-facility long-term care (LTC) industry. Nursing homes and assisted living facilities experienced woeful staffing shortages and unsafe practices that put people’s loved ones at high risk of the then life-threatening illness. This crisis illuminated the inadequacies of the LTC industry but even two years later, the process of modernizing, and the trend toward home care is still strong.
Since then, LTC Awareness Month has taken on a whole new meaning. Whether it’s for you or your loved ones, planning for eventual long-term care can become disheartening when you must deal with an industry struggling to provide adequate, compassionate care. When the institution we rely on to care for our loved ones in their most vulnerable states exhibits widespread failure to do so, we may feel an added burden when trying to select the proper care for our loved ones or ourselves.
Regardless of the state of the industry, long-term care is a crucial cost to consider for your retirement. Healthcare costs are on the rise and long-term care is no exception. You might be considering in-home care for your parents or finding the right facility for them to enjoy life in their later years. But even for you, there are steps you can take now to make sure long-term care isn’t a financial burden on you or your family, and you have a wide variety of options available so you can select the best care you can get.
Whether you’re looking for an LTC rider to tag onto an annuity, a long-term care insurance policy, or simply setting aside savings for healthcare expenses, a financial strategy that factors your healthcare and long-term care expectations can pay off when it comes time to pay for those expenses.
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Budgeting for long-term care can have many moving parts. A financial professional has the knowledge, tools, and diligence needed to account for all the factors that pertain to you and suggest fruitful financial options for your unique retirement situation. To get started, contact us at (540) 720-5656.
Amy Anderson joined the ILG Financial team in 2023 as the client relations coordinator. Her responsibilities include scheduling of appointments, annual check-up notifications, and annuity and required minimum distribution assistance. She is a graduate of Harding University with a degree in Computer Information Systems. Amy and her husband have two children and she enjoys reading, crocheting, music and spending time with her family.
Chase Lopez joined the ILG Financial team in 2020 as an advisor. Chase is a 2016 James Madison University graduate with a degree in management. Chase has been trained under the tutelage of Dave Lopez, who is not only the founder and managing member of ILG Financial, but also is Chase’s uncle and godfather. He also enjoys working alongside his cousin, Megan, who is Dave’s daughter. Chase, as a fiduciary, believes in putting his clients interests first, and building out plans for his clients where they can have a happy and fruitful retirement. He married his beautiful wife in February 2022 and both use most of their free time chasing around their little pup, Aurora.
Jessica Carson joined the ILG Financial team in 2018 as an agent. Jessica and her husband have four children, two dogs, 3 barn cats, 5 chickens, and three parakeets. She indeed loves her children and pets! When not at work, Jessica enjoys playing the piano and cello as well as traveling and spending time outside with her family, hiking, fishing, and boating.
Terri Center joined the ILG Financial team in 2019 as client services manager. She handles client records, application processing, and gathering information to provide a professional and friendly experience with all of our clients. Terri is a graduate of Oakland University. She is married and has two children. She enjoys hiking, family time, and puzzle challenging video games. She also likes to share her creativity in her canvas paintings and sewing projects.
Megan Jones joined the ILG Financial team in 2020 as marketing director. Megan and her husband live in Fredericksburg, VA with their German Short Haired Pointer, Gus. Megan is a graduate of Longwood University and holds a degree in communications. Megan is the oldest of Dave Lopez’s three children and not only enjoys working alongside her father, but also with her cousin, Chase, who joined the ILG Financial team in 2020 as an advisor. When not at work, Megan enjoys sitting on the back porch with family and friends enjoying food and music.