(NC)-While many Canadians know the personal sacrifices that often accompany elder care, few of us have created plans for our own long term care needs.
According to a survey commissioned by Manulife Financial1, 38 per cent of Canadians have provided hands-on long term care assistance to a family member or friend. Caregivers say the greatest personal toll is the 'time crunch' - not surprising as many also care for children. Yet despite this fact, only 21 per cent of us have factored long term care into our retirement plans.
"It's rare to see individuals plan for their long term care needs. They recognize they will grow old and require help, yet few actually visualize this. Not surprisingly, they find care costs are much higher than imagined," explains Dr. Rubin Becker, a respected gerontologist.
While Canadians have many concerns when it comes to their own potential long term care needs, one of the biggest worries (51 per cent) is becoming a burden on their family.
Credit: www.newscanada.com
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