Latinos and Blacks Worry More About Affording Long-Term Care
It’s a scary thought, but inevitable.
Our parents will grow older and eventually require care. This is not an issue that is frequently discussed among minority communities, but it’s time that we begin doing so, especially since blacks and Latinos worry most about being able to pay for the needed care, according to a recent study. The study also found that these two racial groups were also the most worried about becoming a burden on their families, when compared to whites.
Of those survey, 57 percent of blacks and 45 percent of Latinos were concerned about paying for long-term care, while only 41 percent of whites expressed concern. Blacks were the most troubled about ending up in a home.
It’s important to have this conversation with your parents while you can still plan ahead to accommodate their preferences. Not everyone wants to end up in a home.
Have you started planning for your parents retirement?