Planning for the future requires some expert advice. Financial advisors assist their clients in achieving their goals for retirement, travel and even providing for their children. What about planning for the inevitable costs of medical treatment and long term care?
Jamie Hopkins shares my passion of planning for security in our retirement years. He talks about some important gaps in the retirement planning industry in this article (Forbes, April 2018). He shines a light on a downside of specialization I frequently see. “While 94% of advisors reported that their clients are waiting too long to plan for long-term care, only 26% of these advisors stated that they discussed long-term care planning with their clients.”
Financial Advisors Avoid the Hard Conversation
And why are these advisors avoiding this important conversation? Mostly because it is simply outside of their specialty.
“…many advisors reported that they don’t like bringing up the topic because they believe their clients see it as depressing, overly complicated, and time consuming.”
Apparently, these financial advisors are uncomfortable with the difficult conversations required to create a holistic retirement plan for their clients.
I am in complete agreement with Jamie Hopkins! He also presents some practical and creative solutions for your consideration. Yes. A thousand times: YES!
Are you curious about the cost of your own long term care solution? Click here to receive your own free, personalized quote.
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