Long Term Care insurance can be overwhelming if you are not prepared. The longer we live the more money we end up needing with retirement funds, healthcare expenses, and any type of care. A important thing to remember is to not let your kids or even grandchildren become burdened by the finances and costs.

Here are some steps to take to make sure you do not put your kids in a financial bind by HuffPost:

  1. Do not use your retirement funds to help out your kids or grandchildren-2.8 million borrowers over the age of 60 owed student debt in 2015. Although the generosity is awesome, nobody should be heading into early retirement with debt from loans racking up.
  2. Try and stay prepared for the upcoming possibly medical costs- Fidelity estimated that couples who retired at the age of 65 will need around $280,000 to cover health care expenses and retirement costs.
  3. Research and buy Long Term Care Insurance- Research shows that you will need some type of long term care service in your life. It’s a 50/50 chance. Plan ahead and invest in your future. You will be glad you did.

According to Costa the best time to really start planning for Long Term Care Insurance and to save for retirement is in your 50’s. “If you choose not to do it, that’s perfectly fine, but allow that to be your decision, not the decision because you waited a month too long and now it’s become unaffordable,” Costa said.