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Women and Extended Care

| April 24, 2018
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It’s no secret that women tend to worry about certain financial challenges that men often do not ever consider. Women are planners, and with planning undoubtedly comes a lot of stress from all those “what ifs.” 

As an experienced financial advisor, I have been asked quite often throughout my career how to handle – and master – these hurdles. And we at Nabell Winsow are able to provide solutions. 

Typically, men aren't afraid of running out of money. But, women are. Just consider how many times men visit the doctor. The truth is, men think nothing bad will happen, whereas women will be the first to make that important phone call, book an appointment and go. Now, consider the statistics that show women live longer than men. There’s a reason for that.

Whether the source is societal or genetic, worrying is something women do more often about more things - the family, the home, the husband, evening’s dinner, properly packet lunches, errands, pets, aging parents, caregiving, health, and, especially, money. Whether working outside the home or as a stay-at-home mom, it doesn’t matter - the list of things to do and think about grows exponentially each day. 

And all that concern and care means women are way more motivated about obtaining extended care services over men… and for longer periods of time. 

At Nabell Winslow, we recognize this. That’s why we do a financial review. It’s our goal to help you worry a bit less. 

One question I like to ask clients is, “How can we ensure your spouse doesn't run out of money and your children have a legacy?” The answer can be found when we combine investments with insurance. When we analyze the cause and effect of our investments on our retirement income planning portfolio we can better foresee the different outcomes and the potential risks. And if we can do that then we can plan for a more stable life ahead.    

Financial planning really is a strategy. It’s about asking the hard questions, about the unforeseeable future and proposing those “what ifs” no one likes to think about, but that women are the first to consider - What are the chances I’m going to be disabled later in life? What if I get cancer or…? 

Facts are, there is a 70 percent chance after age 65 that a person will experience an extended-care event like Alzheimer’s. And of the nearly 5.7 million Americans living with the disease, two-thirds are women. Alarmingly, of the top 10 causes of death within the United States, Alzheimer’s cannot be prevented, cured or stalled. 

We recognize this crisis and the odds that it could happen to any one of us. We ask, How would your retirement plan handle something like that? How are you planning to cover your extended health care needs? How does your retirement portfolio interact with that 70-percent potential event? We also understand it could be a seven-figure expense, so why not plan for it the least expensive way possible over time? Together, in twenty minutes time we can begin planning the next twenty years of your life. 

Scott Winslow is Managing Partner and Co-Founder of Nabell Winslow Investments, a financial advisory firm that helps accomplished entrepreneurs, professionals, retirees, and those with sudden wealth transition to a life of long-term financial independence through personalized and professional assistance. Contact Scott and his associates at (910) 239-9130 or [email protected], or visit www.nabellwinslow.com

Registered Representative offering securities and advisory services through Cetera Advisors LLC, Member FINRA / SIPC. Cetera is under separate ownership from any other named entity.

Investments in securities do not offer a fix rate of return. Principal, yield and/or share price will fluctuate with changes in market conditions and, when sold or redeemed, you may receive more or less than originally invested. No system or financial planning strategy can guarantee future reselts.

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