November Is Long-Term Care Awareness Month: Why Planning Ahead Matters
As we recognize Long-Term Care Awareness Month, it’s the perfect time to pause and ask: What would happen if you—or a loved one—needed extended care tomorrow? For many families, the answer is unclear. And that uncertainty can lead to emotional stress, financial strain, and difficult decisions made under pressure.
At Patten Financial Group, we believe in proactive planning that takes into consideration your independence, your assets, and your loved ones. Long-term care (LTC) isn’t just about nursing homes—it’s about having options. Whether that means receiving care at home, in an assisted living facility, or elsewhere, the goal is the same: maintain dignity, reduce burden, and preserve choice.
Why This Matters Now
• 70% of Americans over age 65 will need some form of long-term care during their lifetime.
• Costs are rising: In-home care, assisted living, and skilled nursing facilities can exceed $100,000 annually depending on location and level of care.
• Families are stretched: The “sandwich generation”—those caring for aging parents while raising children—face tough trade-offs that impact retirement readiness.
Despite these realities, many people delay planning until it’s too late. According to recent data, 82% of Americans are concerned about LTC costs, yet few have discussed it with a financial professional.
What Long-Term Care Planning Can Do
• Manage care costs and have a plan in place to help keep retirement assets from quickly depleting
• Provide flexibility in how and where care is received
• Reduce emotional and financial stress on family members
• Ensure your wishes are honored through proper documentation and funding strategies
What Planning Looks Like
Long-term care planning may include:
• Insurance solutions such as hybrid life/LTC policies
• Self-funding strategies using designated assets
• Medicaid planning for those with limited resources
• Legal documents like powers of attorney and healthcare directives
Every plan is unique—and should reflect your goals, values, and financial situation.
Take the First Step Today
If you haven’t explored your long-term care options, now is the time. At Patten Financial Group, we specialize in helping retirees, business owners, first responders, and high-net-worth families build comprehensive, compliant, and customized LTC strategies.
📞 Schedule a complimentary consultation today—Schedule Consultation
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Sources:
https://nationaltoday.com/long-term-care-awareness-month/
Investment advisory services offered through Redhawk Wealth Advisors, Inc., an SEC
Registered Investment Advisor. SEC Registration does not imply any level of skill or
understanding. Redhawk Wealth Advisors and Patten Financial Group are unaffiliated and
separate legal entities.
