Aging In Uncharted Territory

You probably don’t need me to tell you: We are living in a brand new era. And there’s no road map, no experienced sages who have navigated times like this. Even on the topic aging, we’re headed into uncharted territory.

According to the U.S. Census Bureau, the time is rapidly approaching when people over 65 will outnumber those under 18. This shift has never happened in the history of the United States. By the year 2030, an astounding 1 in 5 adults will be of retirement age.

The Key to Long Life: Long Life

It sounds trite, but it’s true. The numbers show that if you live to age 65, you are likely to live well into your 80s. And if you reach your 80s, you’re probably going to live into your 90s… and beyond! Today’s lifespans are unprecedented; the fastest-growing segment of our population is between the ages of 85 and 94!

Americans are living longer and having fewer children. But longevity alone will not transform senior housing. We are about to experience a revolution for which most are ill-prepared.

Very few of us are ready for long life expectancy. Even fewer of us are prepared for the likelihood of needing long term care (LTC). Sure, you might be thinking or even talking about your future needs. But 50% of seniors who “make plans” for their future financial needs rarely get past the planning stage.

In fact, more than 75% of seniors would rather plan for their funeral than plan for their final years. Talk about living in denial.

The High Cost of Denial

Many of us dwell in denial. After all, it’s a natural survival mechanism during complicated times like this. But refusing to plan for your future long term care needs helps nobody. I’ve railed against denial for years. When it comes to LTC, denial can be the ruin of people and families. The costs of LTC can be a destroyer of dignity, grace and finances without advance planning.

For those of us who’ve planned for LTC and embraced the possibility of living long lives, living at a CCRC (Continuing Care Retirement Community) is possible.

Jim and I are moving to a fabulous CCRC in February, 2018. That’s soon! Stay tuned for our updates.

In the meantime, if you think you’re going to live to 65, then 85, and maybe even 95… let’s make a plan for you. Click here to receive your free, no-obligation quote for your LTC insurance coverage.