About Long Term Care

Today, baby boomers and seniors alike face complex issues as they transition into their retirement years.

More than ever before, Canadians are finding themselves requiring some form of health care assistance during their retirement years. One of the reasons is that we are living longer, as medicine, diet and lifestyle continue to help push life expectancy further out.  As a consequence, a larger number of us will require some form of care or assistance during our retirement years. Whether this be receiving care in your own home, or moving to a facility.

STATISTICS... Over age 65

  • For a couple over age 65, there is a 2 out of 3 chance that at least one spouse will enter a facility at some point during retirement.
  • For a single person, 1 out of 2 will, at some point require assistance in either their home or a facility
  • Average length of stay is 4 years.
  • 1 in 5 “will stay more than 5 years”.

With the cost of care today, this can have a devastating impact on your retirement and/or the estate you leave behind.  Many of us think that when we get to this point of requiring care, our families will look after us, and in some cases, this is true. The unfortunate part of this is the reality of what that actually looks like. A few questions you should ask yourself:

  • Do I really want to place the burden on my children? Depending on the level of care you require, this could be a full time job for them. They could come to resent you.
  • Do you want to age with Dignity? You need to be aware, that if you do need care in the future, you may need assistance with such requirements as clothing, toileting, bathing, feeding, transferring, and continence
  • Do you really want your children or grandchildren see you naked?

Many people today are making financial arrangements to ensure that when they need care, the money will be there to hire a professional. This eliminates the resentment, and or guilt your family may face, should they be called upon to look after you. It also helps preserve your dignity at a time when it is most needed.