President/CEO of Forest Hills Financial, Jaime Westenbarger Reveals the Need for Long-term Healthcare.
GRAND RAPIDS, MI, June 28, 2015: Founder and President/CEO of Forest Hills Financial, Jaime Westenbarger posted a new article on his website entitled, “The High Cost of Not Considering the Value of Long-term Healthcare Costs.” Westenbarger points out how devastating it can be to not have a plan in place to cover long-term healthcare costs.
Westenbarger writes, “A vast majority of Americans don’t give much thought at all to long-term healthcare. Across the board, the wealthy are like most other Americans when it comes to this subject. They just don’t think about it.”
Not wanting to face facts about aging is not what prevents the evasion. According to Westenbarger, “One reason many do not consider provisions for long-term care is because it can come with a hefty price tag.” He continues adding, “However, the cost of not considering it can be financially devastating.”
Additionally, Westenbarger makes the point that people are living longer. He states, “With one of the largest segments of the population approaching retirement age and the leading edge of the Baby Boom generation already retired, the need for long-term healthcare costs is becoming more and more apparent. “ He quotes a 2010 study which states, “The fact is that the average American will need adequate assets for 25-30 years – or longer than previous generations. On average, one in five 65-year-old males will survive to age 90. A 65-year-old woman has a three in 10 chance. And, if they’re married, there’s an even chance that one of them will live to celebrate a 90th birthday.” (http://projectm-online.com/new-perspectives/savings/defining-tomorrows-benefits)
The Need is Unpredictable
The need for insurance of any kind is always unpredictable. It’s no different for long-term healthcare. As Westenbarger points out, “It’s true that the need for long-term healthcare is unpredictable. And there’s always the chance that if you do make provisions, you won’t use it. That’s the best-case scenario and if you have a plan in place that provides for this circumstance, whatever money that’s been set aside and is not used will go to the designated heirs.”
The entire blog can be read at http://www.myfhf.com/blog/entry/the-high-cost-of-not-considering-the-value-of-long-term-healthcare-costs.html
About Jaime Westenbarger
Since starting Forest Hills Financial in a small one-person office in 2006, Jaime Westenbarger has turned the financial world on its head. Through his nationally syndicated radio show, The Keeping Your Money Show, he has helped thousands of people filter through the salespeople of the financial services world and focus on the information that actually matters. Jaime’s style of simple explanations of complex problems helped grow his business in only seven years to include clients in 15 states, advisors in three offices, and The Keeping Your Money Show continuing to grow its listening audience. Forest Hills Financial was able to grow revenue during one of the most devastating recessions in recent memory. Additionally the company continues to develop in size and influence in the financial community on a local, state and even national level. Recently honored with speaking to entrepreneurs at an event hosted by Steve Forbes and authoring a chapter in Mr. Forbes latest book Successonomics, the reach of Jaime’s message continues to grow across the country.
Abour Forest Hills Financial
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