What is your elder care plan for yourself?

Posted by Finding_Way_@reddit | GenX | View on Reddit | 359 comments

Had coffee with a friend and she has long-term care insurance. Her father has it and she said it has been a lifesaver. It has covered his assisted living for decades.

Her plan won't be quite as extensive, but it will provide for the sizeable chunk of money that, along with her pension, should provide decent in-home or residential care.

Like the first friend, another friend has plans based on her parents very good planning, and mirrored that.

My parents moved to where we were. Eventually lived with us. In some ways maybe we were their elder care plan and that was fine as they came to us while still healthy and gave A LOT in terms of helping us raise our kids. Not that it was easy, but it was easier because we had such fond memories of their involvement with us when we were adults.

We have a huge pack of kids. Apparently they have talked about the idea that at least two of them need to live near us and that everyone would need to pitch in financially for our care. The youngest one shared this with me.

It is CRAZY to me that my kids are talking about our elder care, but my spouse and I really have not discussed the plan at all!

What about you all? Do you have any plan for your selves as you get older, especially if you need help?