Are You Old? Depends on How Old You Are
You may be as old as you feel, or as old as you look, or as old as you act. Old is part feelings. However, aging is a reality that can't be ignored because of the tremendous impact on your family and finances.
Do you feel old? Do you act old? Do you look old? The answers to those questions vary depending on how old you are when the question gets asked.
U.S. Trust had conducted a study released several years ago that shows the generational perspective on when you are old. Millennials say that you are old once you turn 59 - meaning there are a lot of 'old people' out there - perhaps you.
Gen Xers says old age happens at age 65. The Boomers point to age 73 as the magic year you start to be old.
So, What is Old Age?
Gerontologists have recognized that different people and experiences reflect 'old age.' But old age often refers to the age where you start getting close to or surpassing our life expectancy.
Old age also is viewed culturally differently as well. If you feel old and act old, people may view you as being old. Chronologically life expectancy has grown where more people than ever survive over age 65.
But scientists say that old age, death, and frailty are linked because approximately half the deaths in old age are preceded by months or years of frailty and long-term health care.
Longevity Leads to Frailty and Declining Health
With advances in medical science and better diets and lifestyles, people live until their 70s and beyond, active and fit, caring for themselves. The problem is aging still is a reality, and we as human beings are not immune to declining health and aging. We start to become frail, suffer from mobility problems, and need help with daily living activities. Falls may create dependence on other people. Plus, dementia risk increases as well.
Getting older is something that happens to someone else. The younger we are, the more we tend to ignore getting old. Facing the problem of aging and long-term care when it is too late places enormous stress and burdens on our family, who often become default caregivers despite being untrained and unprepared.
Being Prepared for Being Old Happens Before We Get Old
Professional long-term health care is expensive and getting more so every year due to increasing demand for care and higher labor costs. These long-term health care costs quickly change lifestyles, drain assets, and deplete a legacy.
The LTC NEWS Cost of Care Calculator shows you the financial strain these costs can have on people today and in the decades to come - Cost of Care Calculator - Choose Your State | LTC News.
Accept Reality
Being prepared for aging requires the understanding that getting older is a reality - no matter what age you think it happens. The ability to plan only is available to you when you are younger and still enjoy reasonably good health.
Long-Term Care Insurance has been a godsend for many American families, providing the needed financial resources to pay for quality care options, including in-home care. In 2021 the top insurance companies spent over $12.3 Billion in benefits.
Don't delay; most people obtain coverage in their 50s. Some people start in their 40s as well, but affordable options are available through your 70s if you have relatively good health but at higher costs. Seek the help of an experienced Long-Term Care Insurance specialist to help you navigate the many available options - Work With a Specialist | LTC News.
About the Author
An LTC News author focusing on long-term care and aging.
James Kelly
Contributor since August 21st, 2017
Editor's Note
When you need care in the decades ahead, you will want for yourself quality care in the setting you desire. Owning a Long-Term Care Insurance policy is one way to ensure you get quality care without draining assets or placing stress on your family.
People need long-term health care services for many reasons. Whether we have mobility problems, health or aging issues, or dementia, long-term health care is expensive and a burden on family members.
Quality care options are even more expensive and sometimes can be hard to find. The time to prepare for the costs and burdens of aging is when we are younger and still enjoy good health. Most people want to avoid a family crisis when they get older. Few would want to burden their adult children when better options are available.
For anyone with savings, a Long-Term Care Insurance policy can be an affordable solution. LTC Insurance is custom designed so you and a specialist can determine the appropriate amount of benefits based on your budget and your needs.
Find Quality Caregivers and Long-Term Care Facilities
If your parent or loved one needs care now - or soon - you will need to find the appropriate care in the right setting depending on their needs.
Take a moment and read -
Seek Professional Guidance
Insurance rates are regulated, so no insurance agent, agency, or financial advisor can give you special deals. However, premiums do vary over 100% between insurance companies for the same coverage.
Experts suggest using a qualified Long-Term Care Insurance specialist to help you navigate the many options available to you and your family.
A specialist who works with the top companies can match your age, health, family history, and other factors and find you the best coverage at the best value. A specialist will save you money, and you will have peace of mind knowing they are making the appropriate recommendations - Work With a Specialist | LTC News.
Get Expert Help Filing an LTC Insurance Claim
LTC NEWS provides free assistance with no obligation to help you or a loved one complete the claims process with your Long-Term Care Insurance policy.
You can also get support in finding quality caregivers and get recommendations for a proper care plan, whether a person has a policy or not. - Filing a Long-Term Care Insurance Claim | LTC News.
Planning Tools and Resources on LTC NEWS
You can find many tools and resources on LTC NEWS to assist you in your research for a planning solution or help your family find the appropriate care for a loved one at the time of crisis.
To help you plan for the future costs and burdens of changing health and aging, LTC NEWS has put in place several resources, including:
- The LTC NEWS Cost of Care Calculator will show you the current and future cost of long-term health care services where you live. Plus, each state has vital state specific information you should know - Cost of Care Calculator - Choose Your State | LTC News
- The Ultimate Long-Term Care Guide is an outstanding read to help you get a good overview of the topic area.
- Compare the major insurance companies that offer Long-Term Care Insurance products here - Top Insurers for Long-Term Care Insurance | LTC News.
- A detailed tax guide that includes available tax incentives can be found by reviewing the Long-Term Care Tax Benefits Guide.
Find all the resources on LTC NEWS - Resources for Long-Term Care Planning | LTC News.
Share Your Knowledge - Be A Guest Contributor for LTC NEWS
LTC NEWS is open to contributors to share their stories with the world.
You can write a story or ongoing column for LTC NEWS. You can write about many topics, including aging, caregiving, health, lifestyle, retirement planning, and long-term care, to name a few.
Be sure to write for our core target audience of adults aged 40 and older. Our audience is worldwide; however, our primary target is the United States, Canada, the United Kingdom, and other English-speaking nations.
Improve your website or blog's SEO and gain exposure and traffic at the same time by being a contributor to LTC NEWS.
You can even promote yourself, your business, and your website or blog. However, it must have editorial content exclusive for LTC NEWS and cannot be just an advertisement. It can include links to other sites, and you can share the article link once published on your website or social media.
Email your story idea or article: newsroom@ltcnews.com - LTC News Contributors | LTC News
Benefits of Reverse Mortgages
Today's reverse mortgages for those aged 62 and older could be an ideal resource to fund a Long-Term Care Insurance policy OR even provide money to pay for care if you, or a loved one, already needs help and assistance.
Some people have much of their savings invested in their homes. With today's reverse mortgages, you can find ways to fund care solutions, care itself, even help with cash flow during your retirement.
Learn more by asking questions to an expert. LTC NEWS columnist and host of the TV Show "62 Who Knew" will answer your questions regarding caregiving, aging, health, retirement planning, long-term care, and reverse mortgages.
- Just "Ask Mike." - Reverse Mortgages | LTC News.
Shared Links
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Let's work together and help consumers who search for us on the web - Site Request | LTC News.
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