Only Half of Americans Are Confident They'll Be Able to Afford Long-Term Care in Retirement
It's estimated that 70% of seniors aged 65 and older will need some amount of long-term care in their lifetime. That care might entail a two-year nursing home stay or a few months of home health aide visits.
Without a crystal ball, it's impossible to predict to what extent you'll need long-term care and what your costs associated with it will look like. But in a recent survey by the Employee Benefit Research Institute, nearly 50% of workers today aren't confident in their ability to pay for long-term care during retirement.
If you're one of them, it's imperative that you take steps to get ahead of what could be the most substantial expense you'll face as a senior.
Source Fool.com
