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
While we may not want to talk about these things, we need to, and now is as good of a time as any. So go ahead, start the conversation. Make sure your future Fourth of July's are just as sweet.
Disclosure: This is a sponsored post. I was compensated for writing it but the opinions expressed are entirely my own.