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How Can You Afford Assisted Living?
Manage episode 422408089 series 2710026
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Are you prepared to afford the care you or your aging loved ones may need in the future?
In this episode, we explore how to navigate the rising costs of senior care, especially for the 76 million baby boomers facing housing dilemmas. Listen in as we break down various payment options, from government programs like Medicare and Medicaid to personal assets such as savings and long-term care insurance.
Discover the importance of proactive financial planning and the potential need for adult children to support aging parents. We'll also discuss innovative solutions like the Assisted Living Waiver Program in California, which provides beneficial options for low-income seniors and individuals with disabilities.
It is imperative to be financially prepared for the growing "silver tsunami" and the care needs of aging loved ones. Whether it's tapping into VA benefits or considering starting your own residential assisted living home, you'll come away with valuable insights on securing your financial future.
Don't wait until care is needed to make a plan. Tune in now to learn how you can take charge of your long-term care costs and face the challenges of aging with confidence. Your future self will thank you.
Resources:
California Assisted Living Waiver Program:https://www.dhcs.ca.gov/services/ltc/Pages/AssistedLivingWaiver.aspx
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