“Where will your clients live, and for how long?
What roles will their children or other caretakers play?
Have they considered what they’ll do if they live well past 80?
These are the kinds of questions you need to ask up front to avoid oversights and set the stage for the rest of the conversation.”
POWWOW, LLC was recently featured by David LaMartina, writer for ThinkAdvisor, who is publishing a healthcare series throughout the summer.
The article does a great job discussing the importance of communicating the impact of elder care on retirement planning. I let my clients know that communication and awareness are the most important factors when it comes to moving forward with incorporating care within a plan. David identifies that many advisors are unwilling or uncomfortable discussing care options and expenses as a part of the planning process, however, it’s critical. “Most people focus on the first 10 years of retirement – the fun years,” says Costa. “Ask clients where their health will be in the last 10. If the advisor is willing to ask the question, most people are willing to open up.”
To read the whole article, please visit ThinkAdvisor.com