By the year 2020, one in six Americans will be a senior; the baby boomer generation will swell the senior population from 39 million to 53 million within 10 years. Although long-term senior care becomes mandatory for many people, most wait too long to prepare for their financial needs as an older adult. Being proactive now means taking that first step toward planning finances so the future can be a little more clear and secure. There is no substitute for steadfast planning or for the advantages such planning can offer.
After you determine what level of care living option you or your loved one need (Active Living, Independent Living, Assisted Living community, Memory Care, Rehabilitation, Skilled Nursing), the next step is to do a little financial planning for the cost of care services...but where do you start? Here's how to pay for senior living!