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What
are Common Later Life Financial Goals?
Marlene
S. Stum, Ph.D. Family Social Science
Knowing
what it is you are trying to accomplish makes
planning and decision making easier. Decisions
about long term care are no exception. It is extremely
helpful for elders and their family members to
have identified their later life financial goals,
determined which goals are most important, and
shared where they agree and/or disagree. Knowing
your goals can then help guide which long term
care financing options make the most sense for
your situation. Too often families are operating
on "automatic pilot" without having
defined their goals.
Do
you know what financial goals are common in later
life families? There are six financial goals family
members commonly identify as potentially important
in later life:
Click
on each goal to read how different family members
describe the meaning and importance of their financial
goals.
Self-sufficiency
Spouse's
financial security
Control
Leaving
an inheritance
Qualifying
for public assistance
Privacy
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