Guidance For My Aging Parents
Guidance For My Aging Parents
The costs associated with caring for aging parents can be overwhelming. It’s common to underestimate the costs of nursing home care and other forms of assisted living, so financial retirement planning is necessary for ensuring proper care. According to LongTermCare.gov, the average cost of a nursing home per month in the state of Missouri is between $5,171 and $9,735. By planning for these costs, you can be more prepared and ready to give your parents the care they need as they age.
Making a plan before a crisis occurs is key to proper financial retirement planning, as emergency planning is costly and can be incredibly difficult on your family. Be sure that you have had a sit-down conversation with your family members to know their plans and their financial needs. It’s important to reassess this every so often, as plans may change depending on different financial circumstances or medical needs.
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The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.
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