Page 7 - Palm Beach Vol 7 No 1

How to Prepare Financially for a Longer Life
By Linda Buccilli
If you ask people, many of them will tell you that they are not afraid of dying so much as they may be afraid of outliving your resources. No one looks forward to
the time when you can no longer care for yourself. When that time comes, your abil- ity to live as good a life as physically pos- sible will depend on what preparations you make today. Exercise, eat right, stay men- tally t and nancially prepared.
Long-term care can be expensive and costs can quickly impact a person’s nancial security. People are living longer, which in- creases the odds of developing a chronic ill- ness that could require ongoing care. If the day comes that you are unable to do basic things, such as dressing yourself, getting in and out of bed, eating a meal or going to the bathroom alone, you will need to be pre- pared for the costs of paying professional caregivers for the help you need.
As health care costs escalate, an increas- ing number of people are protecting them- selves by planning for long-term care. ough Medicare covers skilled care for acute conditions such as heart attacks and broken bones, in general, it does not cov-
er the custodial care required for chronic medical conditions.
When making your plans for a secure retirement, it’s also important to consider long-term care needs as a way of helping to protect your assets so they aren’t exhausted by possible extended-care costs. By plan- ning ahead, you can help maintain your independence and help ensure you have nancial security to live your life your way.
ere are quite a few factors to consider when planning for long-term care. For this reason, it’s important to work with a nancial professional who understands your needs, and who can design a plan that will meet those needs at a cost you can a ord. Speci cally, look for a nancial professional who is supported by a well-established company with a solid his- tory of strength and stability. A company that is well-positioned to deliver long-term value and will be there when you need it most.
e right long-term care plan can provide you with options on how you receive the care you need and where. It gives you choices about how your nal years are lived and where. And maybe, with such a plan can help reduce the fear of outliving your resources.
Wealth Management
Linda Buccilli is a nancial advisor and growth and development director at Northwestern Mu- tual. She has proudly represented Northwest- ern Mutual since 2011. Linda proudly serves the Arthritis Foundation of Palm Beach County, the Boys and Girls Club of Broward County, the Gay and Lesbian Chamber of Commerce Greater Fort Lauderdale, The Foundation for Childhood Cancer, and AJC Children’s Foundation. Linda’s mission is to help her clients and her commu- nity attain nancial security. Because we cannot predict the future, Linda helps her clients pre- pare for the best and worst case scenarios and creates a long-term relationship based on qual- ity service and integrity.
Article prepared by Northwestern Mutual with the cooperation of Linda Buccilli. Linda Buccilli is a Financial Advisor with Northwestern Mutual based in Boca Raton, FL. Linda Buccilli is a licensed insurance agent. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI, and its subsidiaries. To contact Linda Buccilli, please call (561) 445-2645 or email at [email protected].
Vol. 7 No. 1 Attorney at Law Magazine® South Florida | 7