As the oldest Baby Boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but outliving good health.
Long-Term Care Strategies
As the oldest baby boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but outliving good health.
For retirees, home health care can cost $50,000 or more per year1, and nursing home care can run as high as $100,0001 per year. Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?
Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.
We can help evaluate your situation and determine if purchasing a long-term care insurance policy may be the right move to help you feel confident in your financial future.
Ann Vanderslice, Federal Benefits made simple, an EA Buck Company is not affiliated with the U.S. government or any governmental agency.
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It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.
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