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The Style Quiz
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Living
Longer – Diets
There are many good reasons The
South Beach Diet by Arthur Agatston, M.D. is #1
on the Best Seller List. The author puts forth a very
rational description of good fats and good carbs that
have a positive effect on weight and cholesterol.
The recipes are terrific, and your pants will not
be as tight around the waist. Give it a try!
Question
You Need to Ask:
How do I take the Tsunami Wave into consideration
in my planning?
Planning
Tools:
Visit www.jlinvill.com
for a complete tool kit for LTC planning: Articles,
Style Quiz, The Process “Let’s Walk
Before We Run”, key links and my companion
site: www.jlinvillLTC.com.
Next
Issue – Critical understanding
about Alzheimer's and dementia.
Have
a great month!
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"A
good plan today is better than a great plan tomorrow."
- George S. Patton
The
Tsunami Impact
Tsunami
is the Japanese word to describe a violent ocean wave
that rolls across the sea with terrific force. The Tsunami
Wave is caused by an underwater volcanic eruption.
Our country
has its own Tsunami Wave– the baby boomers moving on
into retirement and the senior years. The first ten years
of boomers totals almost 40 million people. Around 2010, the
front end boomers will reach 65 and financial resources will
begin to be distributed to provide living expenses. This should
have a long term impact on the financial markets.
Our
life expectancies are changing.
Boomers
as a group are projected to live longer. Insurance regulators
have recently issued new life expectancy (mortality) tables
that add 3-4 years to the lives of current 60 and 65 year
olds. For example, a male and female age 60 today are projected
to live to ages 81 and 85, respectively (please refer to life
expectancy article)
The longer
you live, the greater the chances that daily activity care
will be required. In the Philadelphia region, annual assisted
living care in 30 years will conservatively cost $250,000
(assuming the current care inflation rate of 5%). If four
years of care are needed for one spouse, the care will most
likely cost $1,000,000.
Our Tsunami
Wave will impact your family – your tax structure, your
medical care costs, your long term care costs, your prescription
drug costs and your financial resources.
-
John B. Linvill Jr., CSA
Related
Articles by John B. Linvill:
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