Over a period of many years, I observed that the single greatest variable in any financial plan is the future physical and mental condition of the client. In addition, many clients wind up caring for their parents as they get older, either physically, financially, or legally. Most portfolios can not sustain a $50,000 to $70,000 after tax annual drain due to long term care costs. Due to the increase in life expectancies, it is critical that clients consider how they are going to pay for these expenses. In my new book, “What to Do With Your Aging Parents” we outline all the decisions that need to be made – IN ADVANCE of a crises. The book may be purchased from Amazon.com here.
For more information see www.agingparents.net.
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