Long-Term Care Costs
August 8, 2024
As you approach or enter retirement, it is important to consider the potential for higher healthcare costs and from which income stream or bucket of savings you will fund needed care.
But why?
Recent statistics show 7 out of 10 people over age 65 will have a long-term medical need. Most of them are not prepared for the cost1.
Many Americans find themselves wondering, “Which asset will I spend down first to cover my medical care?” Even more concerning is that advancing age – even if you are still working – could mean a shorter time to fund a Long-Term Care account. Costs and likelihood of care required will continue to rise.
At Welcome Home Financial Partners, we focus on growing and distributing your money in the most effective way possible. But we focus on preserving it, too.
Contact us today to schedule a complimentary consultation. We can discuss ways to provide for the possibility of funding long-term care while continuing to plan for other aspects of retirement.
https://www.aplaceformom.com/senior-living-data/articles/long-term-care-statistics