Women and Long Term Care Planning:

Abstract

This is a practice-based essay, drawing upon current research and practice in long term care planning and finance. The main thesis is that women of all ages, including those who are well educated, and those who are in business occupations, resist thinking about their own long term care needs. As a result, women are at great risk for financial exposure and impoverishment when they reach old age. The authors explore the reasons for women's attitudes and make recommendations for steps that should be taken to change women's perceptions and assist them in planning for their needs. The article focuses on the different reasons for this resistance at three different stages of the life cycle: under age 40, ages 40-55, and over age 55. Four case studies, drawn from the authors' practice, are cited. The demographic and economic realities are defined, based on published research. Given the disparity between women's perceptions and the demographic and economic projections, the authors conclude with a series of steps that should be taken by the major actors: government, employers, insurers and other private sector organizations, and women themselves.