Blog

Don’t Wait Until It’s Too Late: Why Long-Term Care Planning Should Be on Your Radar Now

July 02, 2025

When we talk about financial planning, most people think of saving for retirement, paying off debt, or investing wisely. But there’s a critical component that’s often overlooked—long-term care (LTC) planning.

And here’s the truth: long-term care isn’t just a “maybe”—for many, it’s a “when.”

The Cost of Waiting Is Too High

According to Genworth’s 2024 Cost of Care Survey, the average cost of a private room in a nursing home exceeds $110,000 per year. Even assisted living facilities can cost upwards of $60,000 annually. Medicare won’t cover these long-term stays, and Medicaid only kicks in after you’ve depleted most of your assets.

Without proper planning, your life savings—and your family’s peace of mind—could disappear in the blink of an eye.

What Is Long-Term Care?

Long-term care includes services that help people with activities of daily living—things like bathing, dressing, eating, and mobility. It’s not just for the elderly. Accidents, illnesses, or chronic conditions can strike at any age, making long-term care planning essential for everyone, not just retirees.

The Smart Approach: Planning Early

At Patria Wealth Group, we work with clients throughout Wilmington and beyond to incorporate smart, flexible long-term care strategies into their overall financial plan. Whether it’s hybrid life insurance policies with LTC riders, dedicated LTC insurance, or leveraging health savings accounts (HSAs), we tailor a solution to protect your wealth—and your dignity.

Peace of Mind for You and Your Loved Ones

Long-term care planning isn’t just about finances—it’s about freedom. Freedom to choose where you receive care. Freedom from burdening your family. And freedom to age with confidence and control.

Take the First Step Today

At Patria Wealth Group, we believe in proactive planning. Let’s create a long-term care strategy that fits your life, your goals, and your legacy.

 Schedule your free LTC Planning Consultation today and take control of your financial future—before someone else has to.

Located in Wilmington, Delaware | Serving clients across the First State and beyond.

Patria Wealth Group — Empowering Your Financial Legacy, One Decision at a Time.