New Jersey residents who are older sometimes end up developing Alzheimer's disease, and as the population continues to age, the number of Americans with this disease is expected to rise. Currently, more than five million people have Alzheimer's, and the rate of individuals with this disease doubles every year after the age of 65. Since this medical condition leads to decreasing memory and abilities, financial and nursing home planning are essential.
A recent study on middle income boomers by Bankers Life and Casualty Company showed that while members of this age group generally have a financial plan in place for their final life expenses, they are largely unprepared for any future that may require nursing home planning or Medicaid planning. Many, aside from plans for their final expenses, simply have plans to retire based on their financial situations.