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Elder care expert Dr. Marion Somers offers simple tips to help Americans plan ahead for long-term senior care
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Talk about some of the problems -- seniors face starting with.
-- you can try to avoid if you just start planning ahead of time and that of course is the cost of long term care in fact our question of the day today.
Are you planning ahead for your retirement.
You can find this right on our website and there are your choices yes I am trying to plan for my future no I haven't thought about it.
Or no I can't plan for the future because today's economy makes it so tough.
To do that so the problem number one that we're going to explore today planning ahead.
For high long too long term care costs the solution.
The three in four need more tours and joining us now from Houston is a spokesperson for that group doctor Marion Summers a Ph.D.
author of the book called.
The elder care made easier and organizer one of them of the three and four.
Need more bus tour and it's good to talk to you thanks so much for being with us -- when you -- three and four need -- doctor Summers -- talk about more cash right.
I'm talking about another three and four need more came out of this study.
That's it three out of four people are going to need long term care but are not prepared for it in any way shape or form.
You have a couple of easy tips before we get into the tour -- the talent search which I love this is a great idea.
You guys are -- all across the country but some easy to remember tips for folks out there who would like to maybe get a head start a jump on planning.
For their future as seniors.
And it's sort of SOS is an easy way to remember it as what's your situation oh.
Know what your options are and as research the possible solutions out there so when you say no your situation what's that about.
Know your situation and by that I mean.
What is she what is your family history what is your personal issues dealing with health and look at those things and star doing the things that are really -- -- you like not smoking not drinking not doing the things that might be an access.
O is for our options are no -- cost of things no.
That -- -- the cost of the nursing home is -- the average nursing -- cost as 87000 dollars a year.
Assisted living is about 42000 dollars a year and I ask people to go two to three and four need more.
Web site and that website has a calculator.
And anyone can find out the price of an assisted living in nursing facility or what -- -- to -- an -- come into your home and it.
Goes by zip code so somebody's already done the work the three and Ford need more people have already done the torch so -- -- started out -- knowing what the costs are in your immediate need to bush or if you wanna move grandma actually you -- firm where she is find out what the expenses are in her area.
Cities -- the different solutions and that's the final -- in the SOS.
To find out exactly what options are available in terms of in terms of long term care whether it's just having a nurse's aid coming in check.
All we know once a day or several times a week.
To something more permanent like living in an assisted living or independent living even type of situation for senior citizens.
Well those are the options that are available most people don't even know what the options are are in their immediate neighborhood but when I'm talking about solutions I'm talking about reverse mortgages long term care insurance annuities.
Find out deal with and financial expert and deal with these issues now is the least do your homework even if you don't go forward with any of these things should know what is available to you most people don't understand long term care insurance is not one size fits all but what you do we should go to an advisor.
A long term care specialist.
And find out.
What it is you think you need it what it is you can afford and the specialists will work out something that will fit for your particular needs.
People don't understand about reverse mortgage that you need to be 62 that you have to have equity in your polish and -- that reverse mortgages is worked out.
That money that you get -- -- your.
-- rigorous mortgage the equity is -- your own money you don't get taxed as an income so that money that you get added the only Huckabee is your money.
To use as you wish so.
And looking at a new Wheaties and all the other things that are out there but you need to have financial planning and really plan ahead.
And the time to act is great.
Yeah you know the top part I guess for most people -- the hurdle is that.
We don't like to think about getting old we don't want it you know if -- if you are a year late thirties early forties early fifties.
You don't really want -- even explore that possibility because he wanted to sort of live your life and enjoy it right now.
Well -- is not a very sexy subject but it's very practical we're all going to Asia we're fortunate.
We live a long life so we need to plan we need to plan so that.
Our children and our grandchildren are not taking care of us but we can stay independent as long as possible and take care our own -- but that takes planning a -- and it is a planned to fail I've said that all across the country.
We have -- someone in our chat room who has posted.
That he's far more this is from -- list far more concerned about long term health costs under Obama care that.
President's health care law that has passed -- recently been upheld by the Supreme Court.
Then he was before that bill was passed what are your thoughts on the health care law and and the effect that it will have.
On seniors.
-- this is the only country that has not.
Had a universal.
Health care plan.
So -- -- brutal -- -- to really answer.
We don't know what the costs are going to be -- paper is Gary Sick.
And legislators really have to go through it line for -- and figure out what the -- arts are individually and what the -- will be business in general.
I want to ask you about this this senior citizen talent.
Contest it sounds like sort of an American Idol for the seniors said tell us about it.
Very exciting emeritus.
Senior living communities are around the country they have almost 500 facilities and they're looking for the most talented in -- And the -- eyes is.
11 year of free rent a bit of narrative of their choice and I think that's.
They have 500 that there -- but you can expect -- but Sean and he's anywhere in the country.
That's -- forty.
I've thousand dollars then -- won't be eleven runners up and they will each receive -- one week.
Free editor emeritus of -- charge so this has been very exciting to watch things.
Very talented -- constantly have this surface -- And stand before an audience and the video in the video -- all get sent out you'll -- Americas headquarters.
So you just go to free rent to give -- -- dot com and anybody can into the contest it's not closed to just -- people.
It's open to the public and it's been very excited about -- that's.
-- -- -- -- -- The way I'm sorry glad I didn't mean to cut you off.
-- rents giveaway dot com anybody can ensure.
They're tentative video that you state your -- why they want to win and then whatever they're talented and just submitted to that web site.
Somebody's going to be chosen and you can't win unless you enter.
That sounds -- a lot of fun.
I'd love to see some of the -- the videos that people send in.
-- -- to answer the contest we could check that out doctor -- Summers Ph.D.
a spokesperson for three and four.
Need more dot com and her book is called elder care may be easier doctor Summers thank you so much for coming on talking to us about this very serious issue.
That will that will all face as you said hopefully.
As we grow older.
My pleasure thank you --
