Most people are in denial about the healthcare issues they will face in retirement, but advisors must help their clients start these conversatins so they can plan for their future, explained Katy Votava, president and founder of Goodcare, at the Financial Behavior in Retirement Summit in Chicago on Monday.
Cost, confusion, denial and mistrust of providers are the roadblocks that keep pre-retirees and retirees from planning for their future healthcare needs. While 86% of men and women say that it’s important for their advisors to talk to them about long-term care, just 9% of advisors do, said Votava. But by making this conversation part of their annual financial checkup, it helps to break the ice.
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access