My grandfather died about twenty years ago, and my grandmother has been living on their pension ever since.  Now, she doesn’t get a lot, but somehow she gets by okay.  We have had some talks about her savings (which amounted to less than fifty thousand dollars) and ways we could make it grow. 

Because of her age (83 at the time of this writing) she really didn’t want to put it anywhere except for a bank account - she grew up learning that the bank was where you should put your money.  So, grandma’s money sat in there - that is until she needed to go to the nursing home.

Now, most of us never consider that we might need some extended health care at some point in time - and this can be a costly mistake.  Needless to say, grandma’s money ran out in less than a year, forcing my parents to foot the bill.

After this experience, I looked online for some blogs regarding our situation.  Seems that we could have bought long term care insurance and averted this financial disaster - but it is too late for us now.

So, if you are elderly, or getting up there, look into some insurance for future health problems and save your family from the financial burden of taking care of you.