Quote Of The Week: Thinking About Long Term Care Needs

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Have you thought about your future long-term care needs? Roughly half of all Americans age 65 and older will need some kind of long-term care services.

“As you plan for retirement, one of your primary goals should be ensuring that you’ll have sufficient assets to live comfortably for several more decades. If you or a partner have a long-term care need during that time—which is a realistic possibility for about half of all Americans age 65 and older—the costs involved could be devastating.”

“Long-term care (LTC) insurance is a solution that makes good financial sense for many, but several factors need to be considered. These include your age at the time you purchase a policy, your net worth and asset mix, the cost of care in your area, as well as the benefits covered by a policy. Due to all the considerations involved, having a financial advisor review your specific situation and the LTC options in the context of your larger wealth management plan, can help you determine if LTC insurance is right for you and confidently protect your retirement, your family, and your assets.”

Terry Bobo, Director of Insurance Solutions, Mercer Advisors, 5 Ways to Align Your Insurance and Wealth Planning,” January 21, 2021

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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