Elder Care

 

The number of seniors is growing. In 2010, one-sixth of the adult U.S. population was older than 65; by 2030, about one-fourth will be.

The problem is that the resources to help seniors stay at home are shrinking.

Many seniors are finding that their boomer children are staying in the workforce longer than they did, and are unable to care for them. Demand for direct-care workers is expected to grow 37 percent between 2012 and 2022.

Demand for personal care aides alone—the entry-level workers in the field—will grow 49 percent. There are currently 3.5 million direct-care workers in the country, according to the Bureau of Labor Statistics. Five years from now, there will be 1.3 million more.

More and more people are going to face the same problem our grandparents may faced. They may have saved lots of money or bought into long-term care insurance, and they might have all their affairs in order.

Money is also a problem: Medicaid reimbursement rates govern wages in the industry, but states have kept reimbursements flat as they struggle with budget issues.

Speak to our Financial Advisors today to find out how Feliciano Financial can help you with Elder Care. Simply call 903.533.8585

Tyler Office  |  1828 East Southeast Loop 323, Suite 200, Tyler, TX 75701-8340  |  Mon-Fri: 8:00 AM - 5:00 PM  |  Sat-Sun: By Appointment

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by Advisor Launchpad to provide information on a topic that may be of interest. Advisor Launchpad is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Securities and investment advisory services offered through Lion Street Financial, LLC., member FINRA/SIPC. Fixed and traditional insurance offered through Feliciano Financial Group (FFG). Medicaid planning and consulting offered through Geriatric Care Solutions (GCS). FFG and GCS are not affiliated with Lion Street Financial, LLC.

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