Many people know to set aside money to pay for healthcare expenses in retirement. After all, as we age, health issues tend to emerge. And anyone who does any reading on Medicare will know full well that the program is by no means free, and that even with minimal issues, your costs under it could be expensive.

But while you may be padding your IRA or socking extra funds away in an HSA to pay for healthcare during your senior years, there's a related expense you might be forgetting -- long-term care. Unfortunately, long-term care is something you might have to pay for completely out of pocket. And the sooner you recognize that and put a plan in place to cover that expense, the less at risk you'll be of depleting your savings later in life.

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Source Fool.com