[Boomer]

DaddyD, thank you for starting this valuable thread, and thank you for all those links you posted.

I saw in one of your posts that you are still in your 50s. We bought a long term care policy just before we turned 60. May I suggest that you start looking into buying one.

For a long time the premiums did not go up, but now they are accelerating fast. It is aggravating and the company keeps offering us options to lower the amount and timing of the coverage to somewhat lower the premium. But, for now, when the bill comes, we hold our noses and just pay it. It is like they are playing chicken with us…….

Even so, I look at the amount we have paid in for so many years and compare it to what one year in a good facility would cost and our pay-in is not even close, so we will keep on. We also consider it asset protection for each other if one needs extra care. It covers in-home care and assisted living, in addition to skilled care. Including memory care.

I hope you will look carefully at your options for a LTC policy.

I understand exactly what you are saying about the financial part of things. We do not use a financial advisor but I am thinking of turning over part of the responsibility soon just to test the waters and to make things easier. I am trying to prepare for what happens if we cannot do it ourselves anymore.

LTC policies and financial plans are easy compared to the very real concern about who is going to pay the bills. A POA is an incredibly powerful document and should never be taken lightly……

What is really needed in so many situations is to be able to hire someone to take care of paying the regular bills when help is needed. That is where there is a big hole in what we can attempt to do to keep ourselves covered as we age…..

Seems like elder care attorneys could have someone under their umbrella to simply pay regular bills for those who want to hire them without turning over the POA……

What older people need sometimes is simply help with regular bill-paying. Seems like an account could be set up with enough money to cover monthly bills without giving the POA to the hired person who is paying the bills……

The name of the bill-payer on the account would do that, but where is such a trusted person to be found to hire? ‘Hire’ is the operative word there. Even for someone who has a relative or friend to do that, it would sometimes be easier to just hire somebody….

I am surprised there are not more small businesses, perhaps through accountants, to do that. It basically boils down to needing an honest bookkeeper. (I know an accountant who does this for a few people, but she is ready to retire and is long past retirement age herself.)

Anyway, enough from me this morning. (I am avoiding working on getting tax stuff together, so I end up hanging out on TOTV.)

Please carry on. This is an excellent thread.

Boomer