According to experts, women are most vulnerable to retirement insecurity, particularly to financial catastrophe late in life. Reasons: Women live longer then men, and often spend years outside the workforce raising children and caring for parents. Consequently, a divorce and/or a spouse’s death can have a more dramatic impact.
As one woman wrote to Karen:
“I attended your seminar/information night hosted by Sunlife/Clarica. I was there in part due to work, but also as an owner of a Long Term Care policy and as the daughter of an aging mother..the perfect example of a Boomer Sandwich generation member.
Your presentation was more than just informative for me. I bought your Planner and intend to personally use it, as well I am beginning to use it as a springboard for discussions with my Mother. But it was also a reconfirmation and affirmation. I am not only a Boomer with an aging mother, but also a young widow. My husband died of a brain tumour almost 2 years ago and I touched into the territory of palliative care/long term care for two years out of a four-year process. I learned the hard way that long term care or it’s short-term cousin ‘palliative’, affects more than ‘old’ people. Old is a very relative term. We all need to consider that it is human to become ill and die. How we plan is the key. Amazingly, I know that there are more ‘young’ people out there in my situation but you rarely hear about them. Consider my situation, I am one of 3 friends in a group of 5, who are widowed and we are just over the age of 50!
You are providing a very important service and sending out an important message. I hope a great many hear it before they become ‘old’.”
Obviously, one solution is adequate life and health insurance. Another solution is education. Contact Karen for a copy of her article: Long Term Care Planning: Women Take Note!
Also ask about a new seminar: Women and Long Term Care Planning: What is the Answer? (See Client Education)