Menu

Still Active, Still Planning: Why Your 60s Are the Perfect Time to Build a Care Plan

BlogPost4 Image

Goal: build a realistic, written plan that connects care, money, and quality of life—and keeps the family in control.

Step 1: Create a 360° “Life Snapshot”

Deliverable: 2–3 page overview of health, home, finances, and support network.

Capture (exactly):

  • Conditions, meds, physicians, portals (logins), pharmacy
  • Home situation (stairs, bathrooms, safety risks), driving status
  • Monthly income (SS, pension), investments, insurance (Medicare, Medigap/MA, LTC), debts
  • Key documents on hand (POAs, wills, trusts)
  • Support map: spouse/partner, adult children, nearby friends/neighbors

For You (in your 60s): Download statements, list providers, walk your home and note hazards.
 For Adult Children: Help fill gaps (doctor portals, Rx list), and draft a shared contact sheet.

Good looks like: Everyone agrees the snapshot is accurate; it’s saved in a shared drive and printed in a binder.

Step 2: Know the Real Costs (so you can plan the gap)

Use reputable benchmarks to set expectations:

  • Assisted Living (national median 2024): $70,800/yr. Genworth Financial, Inc.+1
  • Nursing home private room (national median 2024): $350/day ≈ $127,750/yr (365× daily median). CareScout

Localize: Call 3 providers (1 in-home care agency, 1 assisted living, 1 skilled nursing) in your county to get current private-pay rates + waitlist status.

For You: Make the 3 calls; record rates and what’s included.
 For Adult Children: Price check a second option set to compare and spot outliers.

Good looks like: A one-page grid of actual local rates + the national benchmarks above.

Step 3: Run the “Shortfall” Math

Create: A one-page “Care Budget Baseline.”

  1. Add monthly income (SS + pensions + predictable investment draws).
  2. Add current monthly expenses.
  3. Add projected care costs (from Step 2).
  4. Shortfall = income – (expenses + care).

For You: Do two scenarios (light help at home; higher-need care).
 For Adult Children: Sense-check assumptions and flag tax/benefit interactions to ask an advisor about.

Good looks like: Two scenarios with a clear shortfall number and notes on which levers to pull first.

Step 4: Map Funding Sources (stack, don’t guess)

Consider each line item and capture specifics you’ll need later:

  • Long-term care insurance: benefit/day, benefit period, elimination period, inflation rider, claim triggers, current premium, premium-increase history.
  • VA Aid & Attendance (if a Veteran/spouse): check eligibility—monthly pension add-on for those who qualify. Veterans Affairs+1
  • Home equity: HELOC vs sale vs reverse options (only after advice).
  • Annuities / income products: liquidity, fees, guarantees; understand tradeoffs.
  • Medicaid strategy: timing, look-back rules, protected assets—requires professional guidance.

For You: Gather policy contracts and latest statements; list questions.
For Adult Children: Call the LTC carrier for a benefits illustration and claim process steps; bookmark the VA page above for documentation.

Good looks like: A funding matrix showing what pays for what under each scenario in Step 3.

Step 5: Get Legal & Administrative Readiness to “Green”

Documents to complete or refresh:

  • Durable Financial POA, Healthcare POA, Living Will/Advance Directive, HIPAA release
  • Beneficiary reviews (retirement accounts, life insurance)
  • Password manager + emergency access

For You: Choose primary and backup agents who are willing and available.
 For Adult Children: Verify you can access portals only with permission; store copies securely.

Good looks like: Fully executed, state-appropriate documents; all decision-makers know where they’re stored.

Step 6: Decide “Where & How” You Want to Live

Aging-in-place plan:

Home safety audit (grab bars, lighting, rugs, railings), medication management, transportation, meal solutions, backup caregiver list.

Community living reconnaissance:

Tour 2–3 nearby communities (independent/assisted/memory). Ask: care levels, fees, what’s included, annual increases, staff ratios, therapy/transportation, waitlist mechanics.

For You: Write a one-page “Care Preferences” (what matters most, deal-breakers).
 For Adult Children: Schedule tours, prep questions, and capture comparable notes.

Good looks like: A chosen default path (home or community) plus a Plan B.

Step 7: Hold a Family Huddle and Assign Roles

Agenda (60–90 min):

  • Walk through the Snapshot, Costs, Shortfall, and Funding Map
  • Confirm decision-makers and communication rules
  • Assign recurring roles (bills, meds, appointments, transportation, paperwork)

For You: State preferences clearly; invite questions.
 For Adult Children: Agree on who does what and how often you’ll regroup.

Good looks like: A one-page Family Agreement with names, tasks, and cadence.

Step 8: Build the “Go Folder” (physical + digital)

Put inside: Life Snapshot, insurance cards, POAs/Directives, med list, care plan, provider contacts, policy numbers, latest statements, password recovery instructions.

For You: Keep a copy near the fridge or in a clearly labeled place.
For Adult Children: Maintain the cloud version; test access on a second device.

Good looks like: Anyone on the team can handle a surprise doctor’s call in 10 minutes.

Step 9: Do a 30-Minute “Mini-Drill”

Call the primary care office to confirm proxy access; practice pulling the med list; locate the POA; confirm the on-call urgent care path after hours.

For You: Lead the drill.
 For Adult Children: Time it; note any friction and fix it.

Good looks like: No surprises; everyone knows who calls whom and where info lives.

Step 10: Set Triggers & Reviews

Annual review month (put it on the calendar) and triggers for earlier updates (hospitalization, new diagnosis, move, death of a spouse, major market shifts).

For You: Keep preferences current as your goals evolve.
 For Adult Children: Nudge the review; bring updated rates (re-do Step 2 quickly).

Good looks like: A living plan that changes with you—not a binder gathering dust.

Local Next Steps (By Market)

Greater Philadelphia (Blue Bell office)

  • Book a consult: 1-855-733-3337; 5 Valley Square, Suite 200, Blue Bell, PA 19422. LIS
  • Price-check in Montgomery/Chester/Philadelphia counties; ask about waitlists for popular communities.
  • If aiming to age in place, get quotes from 2–3 home care agencies for 4-, 8-, and 12-hour coverage.

Chicagoland (Downtown office)

  • Book a consult: 1-855-733-3337; 303 W Madison Ave, Suite 1105, Chicago, IL 60606. LIS
  • Compare city vs. DuPage/Lake/Cook suburban rates; note transportation/therapy inclusions.
  • Ask assisted living communities about annual increase caps and memory-care transition fees.

South Florida (Boca Raton office)

  • Book a consult: 1-855-733-3337; 7050 W Palmetto Park Rd, Suite 15-336, Boca Raton, FL 33433. LIS
  • Tour at least one community each in Palm Beach and Broward to see price spread; ask about hurricane preparedness and generator policies.
  • For aging in place, confirm in-home care hourly minimums and weekend/holiday differentials.

(Yes—Longevity IS serves families nationwide, with offices in Philadelphia, Boca Raton, and Chicago for local support. LIS)

Related Posts