St. George Village Blog
Tag Archive: financial planning
Posted on May 6, 2014 by Stacy Anthony
Making sound investments is always an important goal to strive for, but as we age, it becomes even more important to invest our resources wisely and for the optimal return. Investment advisor Paul Lang say that most of his older clients have one particular question in mind about their investments.
“The main thing they want to know is how they can arrange to have enough money to take care of themselves… when they get to the point they have trouble taking care of themselves,” he says. “The cost of care for seniors is very high. Many people worry that they will not be able to afford it.”
Lang assists his clients by providing information, and helping them decipher actual costs and estimate future costs so that they can make the best decisions for their retirement.
“It’s much easier to plan for the future when you have a good understanding of the bigger picture, so I’ll walk the client through different scenarios, such as what if you have a stroke or memory issues or become physically disabled? Then, we’ll discuss how to prepare for those situations,” he says. “You know that if you have enough money, you can set aside funds for the eventuality that you’ll need care. But the big question is, how much money will you actually have to have?”
The next step is to run financial assessments and determine what kind of impact withdrawals will have on the client’s investment portfolio. An estimate of the future costs of healthcare should also be taken into account.
Lang advises his clients to have some form of long-term care insurance as the best plan for protecting their assets, something that will provide for escalating health needs. And he believes that a life care community is a great long-term care investment for seniors — one that will provide a comfortable lifestyle and the assurance of care regardless of health needs.
“A life care community like St. George Village is a sound investment,” he states. “You can maintain your quality lifestyle and have peace of mind, knowing you’ll be taken care of in the future if your health declines…without the worry of increased costs.”