There was a recent article by The Canadian Press that stated “Working longer may not be possible after serious health events and that paying for health care in old age is Canadians biggest worry.”
The article (read it here) identifies that 47% said they worried about needing more long-term care than they have the money for, while 45 % said they fret over whether they’ll outlive their savings.
If these are the concerns, how do you manage them? For starters, how do you even talk about them with your family?
Should your wife/husband and/or children be aware of what your long-term care wishes are? Should they know how much you have available and what you would like if your savings are not sufficient?