Ready To Create A Future Care Plan? Consider All Your Options!
One of the most important aspects of an estate plan is providing for long-term care. When it comes to your home, health, and finances, you want to be in control, directing the decisions that will most affect you. A comprehensive plan is vital because the costs associated with long-term health care are often greater than what the average person is prepared to cover.
When designing your future care plan, it is as important to prepare for the type of care you may need as it is to plan where you may want to receive these services. According to Shari Motooka-Higa, Certified Senior Advisor, the key to a successful plan is to get started early by researching the various senior living options. Whether it be to downsize and age-in-place or move to a senior living community, explore the alternatives. Weigh the pros and cons to help you better understand what you may want and what you can afford.
Today, there are a number of senior living choices. Finding the right fit will depend on your personal preferences, your financial ability, care and medical needs. Planning where to live for the next chapter in your life is a big decision. That’s why it is so vital to plan now for retirement and any future care you may need. Planning for your long-term care is one of the most important decisions you can make, and it is the best thing you can do for your family.
The demand at the senior living communities has been growing over the past years. According to the U.S. Census, there are approximately 10,000 baby boomers turning 65 years of age each day. Hawaii’s senior population is one of the fastest growing demographic groups, which will greatly impact the demand further in the coming years. Currently, there are a number of senior living communities that have wait-lists ranging from one to five years, thus planning sooner than later is important.
Kay Mukaigawa, President & Principal Broker of Primary Properties, said, “There are a few senior living communities that offer a respite stay, which is a temporary short trial allowing you to get acclimated with the community, residents, staff, and programs. Some of our clients have opted for this trial period because it provides the opportunity to get a taste of the senior community lifestyle without making the long-term commitment.”
Timing is key! The ideal time to plan for long-term care is long before you need it. The repercussions of waiting may limit your options. For example, many senior living communities prefer that you enter the community independent, healthy, and able-bodied. Typically, they do not accept new residents who are at the skilled care level. By taking the early steps to map out your course of action, you ensure that your options, care and lifestyle are tailored to your personal wishes and you can be better prepared financially.
Primary Properties presents monthly Senior Life-Styles Seminars at the Pagoda Floating Restaurant. Join Kay Mukaigawa and Shari Motooka-Higa at their next seminar on Saturday, February 25, at the Pagoda Floating Restaurant.