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. With at-home care services averaging $20 per hour1 and assisted living facility costs averaging $3,600 per month,2 it’s understandably daunting. 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, one that is suited to your needs and circumstances.
Strategies for Financial Independence
To schedule a time to discuss your financial future and the possible role of insurance or investment products in your financial strategy, contact us by email or call us at (928) 778-1050 today!
1Genworth Financial. March 2015. “Genworth 2015 Cost of Care Survey.” Accessed Aug. 17, 2015.
2 Ibid.
