Broker Check

Investing in Extended Care

February 22, 2017

When you’re thinking about your life in 10 year, 20 years, and maybe even in 30 years, you probably like to avoid thinking about your healthcare needs. For many of us, we want to focus on the life we’re living now, and we set aside a retirement fund that we can let grow without any substantial help from us. Unfortunately, there are some things you just can’t avoid thinking about, including extended care. When you’ve worked for years and enter retirement, if you plan on living a long life, you may also plan to live a healthy life. But what happens if you can’t? What happens if you need extended care and you haven’t planned for it? At Dunncreek Advisors, we want to help make planning for your life easier by offering you our financial advising services to help you invest in extended care today so that you won’t have to worry about your healthcare tomorrow. Our St. Paul, MN extended care investment advisors are here to help you choose the best planning and investing methods for your budget and lifestyle, ensuring that you have the best possible extended care investment plan possible.

Should Extended Care be Factored into Retirement Savings?

When you’re setting up a retirement fund and begin planning your retirement based on investments, savings, social security, and other sources of income, you’ll want to factor extended care into your estimations for how much you’ll need to save in order to have a successful retirement. It’s best to be sure in advance that you have all of your bases covered, and by allotting a certain percentage of your retirement for possible extended care, you can ensure that there are as few financial surprises down the road as possible; and where there are surprises, you’ll be covered.

Why Invest in Extended Care?

If you’ve ever known someone who had medical bills that could not be paid, if you know someone who had to opt for less-than-ideal medical care because of budgetary restrictions, or if you yourself have ever been limited in paying for or seeking medical help because of your own monetary restrictions, you’ll understand well the need to invest in extended care. If at any time in your future you or your partner are in need of extended care after retirement, there’s a very good chance that, unless you’ve saved money for extended care, you won’t be able to afford all of the costs alone without giving up other expenditures or asking for help from family members. So that your extended care costs cannot become a burden to you or anyone else, make sure to invest in extended care so that you’re prepared no matter what happens. By the time you have invested in extended care, you will have saved an additional sum of money that can be spent on something more exciting or passed on to your heirs or charities. Contact our St. Paul, Minnesota extended care advisors at Dunncreek Advisors at 612-436-3770 or rdunn@dunncreekadvisors.com, and begin planning your future today.