As the oldest baby boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health.
At-home care services average $20 per hour and assisted living facility costs average $3,628 per month.1 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 what kinds of products could fit into a comprehensive long-term care strategy suited to your needs and circumstances.