This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Americans' Continued Reluctance For Long Term Care Planning Evident In Genworth's '2012 State Of Planning' Survey

RICHMOND, Va., Nov. 13, 2012 /PRNewswire/ -- According to the 2012 State of Planning Survey commissioned by Genworth, Americans aged 35 and over have many excuses for why they don't have a plan in place for their future long term care needs. In fact, 82 percent of respondents ages 45-54 without a plan cited reasons such as not wanting to think about being dependent on others, not finding the right time to discuss options with loved ones, handling it themselves, and being unaware that long term care was something to plan for.   This lack of initiative can have significant consequences for consumers in the long run, especially considering that, according to the U.S. Department of Health and Human Services, Americans reaching the age of 65 have a 70% chance of requiring long term care.

To view the multimedia assets associated with this release, please visit:

Resilient Planning = Resilient Retirement

The survey found that when thinking about retirement, 38 percent of Americans who have not provided long term care for a loved one in the past 12 months were most worried about having enough money to maintain current lifestyles. This is a proportion significantly greater than the 23 percent of those who have provided long term care to a loved one and who cited money as most worrisome.

New York-based psychologist and money coach Dr. Barbara Nusbaum says fear may be to blame for the lack of planning. Difficult thoughts about aging, loss of physical and mental abilities, taking care of and losing aging parents, not having enough money, being a burden on family members and loss of personal power raises anxiety and fear and leads to avoidance.

"Long term care isn't a pleasant, happy topic to think about, however we can't let these emotions overwhelm us," says Dr. Nusbaum. "Instead, we can channel our negative emotions in a productive way. Our anxiety and fear can be signals that there is something very important that needs to be handled. If we use our emotions effectively, we will plan effectively and resiliently."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs