Long Term Care Associates,Inc. Baby Boomers


			According to the Pew Research report, “From the Age of Aquarius to the Age of Responsibility”, the nation’s 75 million baby boomers are in an extended “sandwich” phase of their family life cycle, with many either raising minor children or providing financial and other forms of support to adult children or to aging parents”.
	HOME Long-Term Care Concerns Long Term Care Planning Alternatives Baby Boomers Group Plans Calendar Events Newsletter FAQs Meet our team Contact Us / Quote Notices		Baby Boomers How many of us find ourselves in this situation? "Right now, my husband and I are caring for my 82 year old father, who recently got divorced from his wife who has Alzheimer’s. We converted our laundry room into a bathroom and our study into his bedroom. I am also traveling back and forth to NYC to care for my mother who fractured her pelvis. We have our 22 year old son living with us while he plans his future and are supporting another son who is at college." The Pew Research report, “From the Age of Aquarius to the Age of Responsibility”, shows that approximately 50% of the 75 million baby boomers were raising children or supporting an adult child, while 29% were giving financial assistance to a parent and 13% were supporting or assisting both parents and children. Other key findings that came out of the report include: In their financial exchanges with both parents and adult children, boomers are more likely to give than receive. Boomers say they rely less on their parents and adult children for various forms of assistance than their parents and adult children rely on them. Regardless of their family income, most boomers regard it as a parent’s responsibility to pay for a child’s college education. Health is a dominant conversation between boomers and their parents. A majority of boomers say they expect to live “very comfortably” in retirement. Drawing conclusions from the report, one can easily say that boomers appear to be giving, caring and independent individuals. They readily care for their children and parents yet are keenly aware of their own desire to maintain control over their lives. However, the single most devastating event that can deplete retirement savings and have a profound effect on family dynamics is a long-term care illness. Long Term Care Associates, Inc. addresses the issues facing boomers by offering concrete long-term care planning strategies: Long-Term Care Insurance - to maintain independence and not burden family members. Group Long-Term Care Insurance – a way for business owners to provide discounted long-term care insurance to employees as well as family members; spouses/partners, parents and grandparents. Life Insurance with Long-Term Care Riders - a single strategy to provide a legacy and/or finance long-term care Care Consultations – the development of a plan of care to make sure the care recipient receives appropriate care in a safe environment. If you are caught “in the middle”, take a deep breath and reassess the things that are important to you. Make sure your family takes the time to discuss the issues surrounding long-term care, and try to put a plan in place that provides the solution to your concerns. Please contact us today at 800-422-2655 to learn more on how to protect our boomer values and lifestyle.
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