When the Holidays Remind You About the Importance of Planning for the Future

The holidays are a time for family and friends. It’s a time for people to give and receive. It’s a time to begin thinking about loved ones, the family you haven’t spoken to or seen in a long time, children or grandchildren, parents, and even friends you lost touch with over the years. It’s a time to send out holiday cards, a friendly ‘hello,’ a reminder that you still exist. Yet, it may also remind you of the importance of planning for the future, at least financially, and contacting long-term care insurance companies to prepare for that future.

People spend a fortune over the holiday season.

Long-Term Care Insurance Companies Oceanside CA-When the Holidays Remind You About the Importance of Planning for the Future

Long-Term Care Insurance Companies Oceanside CA-When the Holidays Remind You About the Importance of Planning for the Future

In today’s economy, people have a tendency to spend an inordinate amount of money on gifts, even charging them to the point where it takes them six or 12 months, or even longer to pay it all off. By the next holiday season, you may be still paying the balance on those credit cards, not really putting two and two together to recognize that’s exactly what’s happening.

If that’s the case, you’re missing out on some incredible opportunities to make money through proper investments. Did you know if you put $1,000 away right now into a mutual fund, in 20 years that could be worth $22,000? Most people don’t realize the value of compounding interest.

As a result, less money gets put away, less gets invested, and fewer opportunities to build wealth and savings for the future occur. So, by the time you reach retirement age or are getting really close if something happens to you or your spouse or another dependent, who’s going to pay for long-term care?

You will. Not your insurance. Not Medicare or Medicaid. You. And all those holiday seasons when you were spending yourself silly, draining your bank accounts, and charging up those credit cards that will take you another six or 12 or 18 months, or even years to pay off will be stark reminders of missed opportunities.

Contacting long-term care insurance companies could be a missed opportunity.

Too many people wait until it’s too late to look into long-term care insurance. When is it too late? When the combination of your age, family history of health issues, and risk factors for yourself make insurance companies not willing to offer you a policy.

The sweet spot for a long-term care insurance policy is around 55 years of age. Before that, the policy will likely be more cost-effective. After that, the policy cost will likely increase, as will the risk you are denied coverage.

There are many missed opportunities in life, but the one you certainly don’t want to hit you square in the jaw, especially if you have been saving for retirement, even though you may spend more than you want during the holiday season, is long-term care insurance.

Sometimes people get caught up in the marketing and hustle and bustle of the holiday season and end up spending way more than they planned (or wanted) to. Suddenly, they realize the importance of planning, especially financially. And when that happens, turn and think about long-term care insurance and contact long-term care insurance companies to find out more. Your retirement funds and your savings in the future may very well thank you for it.

If you or a loved one are considering Long-Term Care Insurance Companies in Oceanside CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.