Law Offices of Karen Brady, P.C.
Dedicated to your family and your future
Call for Consultation 888-806-7304 / 303-835-1811

Rising healthcare costs highlight the importance of estate planning

As seniors age, they often see an increase in their health care needs. In Colorado, costs for a rapidly aging population are expected to explode in the coming years.

The rise in costs could affect everyone in the state, but we also want to highlight why these numbers show the value in estate planning.

The Denver Post tells a story about a 92-year-old woman who had $750,000 saved for retirement. However, after she had a stroke, she burned through her retirement fund in a few years because of medical costs. While the story focuses on the rising costs of medical care, and how this could affect people living in Colorado, we want you to see why stories like this are an example of why you need to start planning for retirement.

The report also states that around 50% of people 55 and older have no retirement savings. While we understand the difficulty of putting money away, it is important to be proactive with your retirement plan and save what you can as soon as possible.

The story of the woman who had a stroke highlights this point. Even if you have a retirement plan that seems well-rounded, it is important to reevaluate it often to make sure you have enough money to live comfortably.

Certainly, you may encounter unforeseen medical costs. However, planning for every possible outcome to the best of your financial ability will be your most effective tool for avoiding a financial catastrophe after you’ve retired.

No Comments

Leave a comment
Comment Information
EMAIL US FOR A RESPONSE

How can we help? Request a consultation.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Law Offices of Karen Brady, P.C.
5400 Ward Road, Building 5-170
Arvada, CO 80002

Toll Free: 888-806-7304
Phone: 303-835-1811
Fax: 303-424-2599
Arvada Law Office Map

map