I was speaking to a friend yesterday about my Mom. She is 73, and has a deteriorating hip needing replacement. We were talking about the costs involved and how much it is going to cost to have my mom looked after. Wow, from my perspective I can honestly say that this appears to be a racket. Five thousand a month for assisted living. I know I can get it for less, but really, we're talking about my Mom. So I have decided to save up the money to buy a home for her, because she lives in an apartment, and all of  us kids live all over the place. It will be cheaper for us in the long run than to try to pay the Five Thousand a month. The mortgage payments will be smaller, and we can have a home care nurse visit a few times a week.

     Here is where the rubber hits the road. There are long term care products that will provide a monthly income to cover all of the costs of assisted living. These products are fairly new, so my Mom would not have had the opportunity to purchase such a plan. We are fortunate enough however to have the opportunity to purchase such a plan. Sun Life just for example has such a plan, actually several plans, to meet our income and abilities to pay for such plans. You can actually start in your Twenties, and have the plan paid for before you retire and utilize the plan when needed. Retirement for some of us is a life time away, for others, just around the corner. I would enjoy talking to you about your Financial Planning and what is available to you in Retirement Planning.

Reuben