Before that happens we will have to educate the population on reality. Mainly, there is no free lunch.
We have to dump the "I'm important, I'm special, I deserve, my rights" attitudes and lay out some tough prognoses.
If you think we have a LTC home problem now wait for the next generation to come through. Has any government made plans to limit the impact?
LTC is an issue but in reality many seniors today are in good financial shape. They bought homes when they were affordable on a middle class wage. There wasn't peer pressure to have the latest and greatest. They got permanent jobs in a protectionist economy and bought cottages. A high school education got you a job so no student loans to repay.
A person looking at retirement long term may have loans, houses are out of sight, jobs are contract, possibly to foreign workers. Mom and pop may have a million dollar potential inheritance but if they develop dementia a LTC could cost $100,000 a year, coming out of the house sale. On their demise any remnants get split between the kids.
Our kids going into their senior years will not have the same easy start.
Where does the LTC money come from? Does the government have a plan?