Making Dollars. Making Sense: The Long Term Care Dilemma

As our business and our clients mature, so do the topics that tend to take center stage in client reviews and discussions. Over the past several years, the topic of health care later in retirement, by way of moving to a retirement community or to some type of care facility, is a more frequent discussion. The fact is that the largest portion of the baby boomer population is now at the age where their demand for enhanced care at facilities will hit its generational peak within the next 10 years. To further compound the problem of availability, there has been a concerted effort to not overbuild new facilities and campuses to meet the current demand because, in 20 or so years, as the baby boomer population is no longer with us, the following generations are much smaller in size. It will not be until the millennial generation reaches the golden age in retirement that we will again see the supply demand issue rear its ugly head.

So, what do you do now? If you are between the ages of 70 and 80, it is time to plan ahead and be prepared. We encourage our clients to identify a few facilities or campuses that they would be comfortable moving to if there was a need due to health concerns. Setting up an appointment to visit locations that you have identified is key. Furthermore, while on that visit, you may want to sign up for the waiting list because it can take years for something to become available. An important takeaway is to start early and not wait until there is an emergency or a need. Making decisions in a rush or during a stressful time can be extremely complicated, not just for the ones who need care but for the family that is undoubtedly part of the plan, as well.

In order to be the most prepared, we would encourage you not to wait and to start thinking now about what a plan would be if there was a healthcare need.

Securities offered through LPL Financial. Member FINRA/SIPC. Marzano Capital Group is another business name of Independent Advisor Alliance, LLC. All investment advice is offered through Independent Advisor Alliance LLC, a registered investment advisor. Independent Advisor Alliance is a separate entity from LPL Financial.

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Jon Marzano, AIF®, Founding Partner, Managing Principal

As Managing Partner of Marzano Capital Group, Jonathan (Jon) is responsible for overseeing the strategic direction of the firm. A 20 plus year veteran of the industry, Jon’s work with Marzano Capital Group is based around his core belief in a straightforward and simplistic approach to the wealth management process. The desire for continued education and personal growth coupled with a strong work ethic drives me to constantly review and refresh our process in the office. We must continue to learn, as the industry evolves, in order to best serve our clients and their families. Our goal is to create the most predictable financial outcomes we can for our clients and that comes using the best technology, building deep relationships by way of meaningful communication, which is where we take the lead. These beliefs provide the foundation upon which Marzano Capital Group has been built. Jon began his career in financial services after graduating college in Charlotte, NC. First as a financial analyst for a Private Equity firm, then as a Financial Advisor for a national firm. After seeing the industry from the corporate side, Jon and his father sought out a new challenge and formed Marzano Capital Group in 2005 to offer clients independent advice, free from big corporate America. The firm has grown from a two-advisor firm to one that has multiple partners and a talented pool of upcoming associates. Outside of work, Jon is dedicated to growing and improving the communities that his clients live and work in. Jon has been involved with numerous nonprofit organizations and has served on too many boards to list them all by name. Jon has two adult children, Kaeley and Carter. Kaeley is a recent college graduate and is in sales with a technology company based out of Raleigh, NC. Carter will make this world a better place in the trade industry and welding has become his passion. As a father, I could not be prouder of the accomplishments of my kids. I have learned that if you love what you do, you will never work a day in your life. My hopes are that my children feel the same passion for their work as I do.

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