The importance of Long-term Care Planning

With the continuing rise in healthcare costs, especially during the last few years of life, planning for a long-term care stay is essential.

As financial planners, we frequently help clients organize their financial lives and make projections regarding their needs, wants, & wishes.  One of the most difficult topics in planning is long-term care.   Whether the plan is to self-fund these expenses, buy long-term care insurance to help cover the cost, or to rely on government programs, we can help by having high level discussions around these options.

Insight and perspectives

Recently, I attended a luncheon hosted by the Lincoln Estate Planning Council.   The speaker was a representative from Bridge to Better Living, a local organization that helps people explore the various Retirement Communities and options.  One of the key takeaways for me was the fact that many local memory care units are increasingly filled with former professionals (executives, attorneys, etc.).  While this doesn’t mean professionals are more likely to suffer from dementia and Alzheimer’s, it suggests that planning ahead is essential.

Your own view on how to approach this subject of planning for care is likely shaped by your experiences with family members or close friends.  We’ve seen that the perceptions of retirement communities vary almost as widely as the care options available.

P&A’s role

We encourage you to take proactive steps today to plan for tomorrow.  Reach out to us for personalized advice and guidance.  We can run various scenarios through your financial plan or develop a plan if you don’t already have one.  Understanding the long-term implications to your wealth from a long-term care stay is vital.  Our investment management clients receive our financial planning services at no additional cost.  Get as much work out of us as you can.

With that said, we realize this subject is more than just crunching numbers and running scenarios.  It’s about ensuring your loved ones know your wishes and you have the peace of mind that a plan can provide.

Here are a few more resources that might be helpful:



Clicking on the links above may result in you leaving the Pittenger & Anderson, Inc. website. The opinions and ideas expressed on these external websites are those of third-party vendors and Pittenger & Anderson, Inc. has not approved or endorsed any of this third-party content. For the full Terms & Conditions of using the Pittenger & Anderson, Inc. website, click on this link.

Pittenger & Anderson, Inc. does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.  Additionally, the information presented here is not intended to be a recommendation to buy or sell any specific security.  To learn more about our firm and investment approach, check out our Form ADV.


To view this article and others like it online, visit the P&A blog at

Click here to download a PDF version of this article.

Was this post helpful?



Since 1995, Pittenger & Anderson has guided individuals and families going through money-in-motion events. We are a fee-only Registered Investment Advisor and a full-time fiduciary providing investment management, financial planning, and complimentary services to 800+ clients in over 30 U.S. states.

Get P&A in your inbox!

Get P&A in your inbox!

Our once-a-month email is designed to cover topics that impact your financial life, whether you’re just starting out, mid-career, or enjoying retirement.  Learn about planning opportunities, our thoughts on the markets, and many other empowering topics.  We will never sell or give away your email address, nor will we spam you.  We embrace the Golden Rule.

You have Successfully Subscribed!

The Confidence Your Money is Looking For

The Confidence Your Money is Looking For

Please enter your name and email below.

You have Successfully Subscribed!