Long Term Care
Long Term Care
Americans today are living longer.
According to the Social Security Administration, men and women who reach age 65 live to age 84 and 86.5, respectively. Also, approximately one in three 65-year-olds will live past age 90, and one in seven will live past age 95. That means for 14.2% of those 65 or older, retirement years will make up a third of their lifetime.
As we live longer, we need to alter our financial planning accordingly to ensure that we don’t outlive our retirement savings. One of the most significant factors in that equation is our ability to live independently. According to the U.S. Department of Health & Human Services, approximately 70% of Americans turning 65 can expect to use some form of long-term care during their lifetime.
To prepare financially for the possibility that you will be part of that 70%, you should understand your long-term care (LTC) insurance options and how it can help your retirement strategy.
** The American College of Financial Services
We can help guide you down your road to retirement. Whether you are 10 years from retirement or already retired, we can provide guidance, tools, and services to help you prepare for the retirement you envisioned.
This information is provided as general information and is not intended to be specific financial guidance. The information and opinions expressed herein are from sources believed to be reliable; however, we make no representation as to its accuracy or completeness. Before you make any decisions regarding your personal financial situation, you should consult a financial, legal or tax professional to discuss your individual circumstances and objectives.
Products or services mentioned may be unavailable in your state and/or unsuitable for some individuals. Unauthorized use of the material is prohibited.
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