The Fourth of July is a great time for getting together with family. There’s cookouts, fireworks, and all the good home-cooked food you wish you could make at your own house. Families often sit around with a glass of sweet tea (or maybe something stronger), and chat about the weather, the local baseball team, or maybe the just neighbor’s daughter. But instead of idle chitchat this year, use the time to talk about some of the more important things in life…like planning for the future.
It isn’t easy to talk to your parents about the possibility of long-term care in the future. It may not come natural to chat with your spouse about the need for life insurance. And it may not be fun to look into mortgage insurance. However, all three of these issues need to be discussed now…before a crisis hits. I propose you use the time spent “porch sitting” at the Fourth of July barbecues, to get the conversation started about these important subjects. According to the 2011 Genworth “Financial Reality Check” survey, 73% of Americans would not know what to do if they received a call today saying a family member needed long term care. Don’t let that be you.
For some tips on how and why to get the conversation started, check out “Let’s Talk” magazine:
Look for articles from me in the coming month on the three key financial issues facing families right now:
- Long term care giving
- Buying (and keeping) a house
- Planning for the unexpected