If you’re like many adult children today, you may find yourself suddenly stepping into the role of caregiver without warning. One day everything seems fine—then the next, you’re facing an urgent situation without a plan.
I’m Laura Lynn Morrissey, founder of SilverSavvy and a devoted caregiver. When my mother’s health took a rapid turn due to COPD and congestive heart failure, I was forced to navigate her care needs without a clear plan. Despite her meticulousness with personal matters, she never discussed long-term care. I found myself racing to find documents, calling notaries on weekends, and making critical decisions with little guidance.
While I was honored to care for her, the lack of preparation made it harder than it needed to be. That’s why I’m here: to help families like yours avoid the chaos and emotional toll that can come from being unprepared.
Why Long-Term Care Planning Matters
Nearly 70% of people over 65 will require some form of long-term care. Yet many families avoid talking about it—until they no longer have a choice.
Common reasons families delay planning include:
- Discomfort discussing aging
- Denial about future needs
- Lack of awareness around cost
- Fear of being a burden
When an emergency arises, decisions are often rushed, emotional, and expensive. But there’s another way—one that’s proactive, informed, and respectful of your loved one’s dignity.
Real Costs of Long-Term Care
Let’s look at what long-term care really costs in today’s market:
- In-Home Care: $5,148/month (median). Additional expenses like transportation or home modifications often apply.
- Assisted Living: $4,500/month on average, with added costs for medication management or personal care.
- Nursing Homes: $9,034/month for a private room. Shared rooms average $7,908/month.
Even if you have long-term care insurance, many policies don’t cover everything. Out-of-pocket costs can still be significant.
Why Families Wait—and Why That’s Risky
My mother didn’t have a power of attorney, a healthcare directive, or a will. When her health declined, I had to scramble to gain legal access just to pay her bills and arrange care.
This situation is more common than you might think. Many families operate in reaction mode, making hasty decisions during crises. That’s not how it should be.
How to Start the Conversation About Long-Term Care
Talking to a loved one about aging can be difficult—especially if they avoid the topic. Here’s what I recommend:
- Choose the Right Time: Quiet, private moments work better than busy family gatherings.
- Lead with Empathy: “I want to make sure your wishes are respected and your comfort is a priority.”
- Share Personal Stories: Real-life examples help illustrate why planning matters.
- Start Small: Introduce one document, like a healthcare directive, before jumping into full plans.
- Bring in a Professional: Neutral third parties like eldercare advisors can make the conversation less emotional.
Break Down Costs by Care Type
Here’s a more detailed look at common care options:
- Home Health Aides: ~$27/hour = ~$4,200/month full-time
- Assisted Living: $4,500/month base, with added fees for care
- Nursing Homes: $9,034/month for a private room
- Out-of-Pocket Alternatives: In my mother’s case, it was $3,900/month—an amount we hadn’t prepared for.
Steps You Can Take Now
Don’t wait for a crisis. You can start planning today by:
- Having the Conversation: Talk to your loved ones about care preferences and finances.
- Reviewing Existing Policies: Understand your long-term care insurance coverage.
- Building a “What-If” Plan: Consider scenarios and outline your preferred responses.
- Seeking Expert Help: Talk to a long-term care planner, elder law attorney, or SilverSavvy consultant.
Hidden Costs You Might Miss
Planning helps, but unexpected costs can still arise:
- Healthcare Inflation: Costs rise faster than general inflation.
- Caregiver Burnout: If you or a family member provides care, consider the cost of support or respite services.
- End-of-Life Expenses: Funeral costs, final bills, and estate management are often overlooked.
Take Control Today
You don’t have to feel overwhelmed. At SilverSavvy, we help families approach aging with confidence and clarity—not fear. Together, we’ll create a plan that reflects your values and protects your family from unnecessary stress.
Need help starting the conversation? Let’s talk.
👉 Schedule a free consultation at www.silversavvy.com or email us at [email protected].
To aging well,
