b'F I N A N C I A LLong-Term CareCHASE KERBY: CERTIFIED FINANCIAL PLANNER, ACCREDITED INVESTMENT FIDUCIARY& SENIOR ADVISOR WITH RATHER & KITTRELL Chase Kerby addresses some of the concerns he hears frequently from clients.E veryone has concerns when it comes to moneyitsAccording to A Place for Mom, a company that specializes in one of those rare subjects, like health, that affect eachfinding the right assisted living facilities:person regardless of age, background, or level of wealth. One of the most crucial aspects of financial planning is70% of adults who live past age 65 identifying each clients biggest financial concerns andwill need some type of long-term care.determining whether those risks can be mitigated or avoided altogether. In candid conversations about what causes the most anxiety, two concerns consistently rise above the rest: The average stay is over three years. These statistics can I dont want to outlive my money. be alarming and may lead some retirees to save more than I dont want to be a burden on my family or anyone else. necessary to cover this uncertain future cost. Without proper planning, this often leads to under-spending and a a less These worries can feel more and more realistic in a worldfulfilling lifestyle during retirement.where people are living longer. Advances in healthcare can also mean a more active lifestyle for many yearsand more years toThere are options for long-term care insurance, but the spend money.benefits and premiums can be confusingespecially if your conversations are only with non-fiduciary insurance agents LONGEVITY AND GOOD HEALTH focused on selling policies.Longevity and good health are both great things, but they require diligent planning to maximize ones lifestyle without realizing ones worst fears.This dilemma often raises the question of long-term care: how to approach it and how to plan for it.While no one wants to imagine being in a situation where they or their spouse might need this type of care, it is a common source of apprehension. Weve all heard stories of both success and failure from friends or family.4'