No one likes to talk about potential long-term care issues, but it is an essential topic for families to cover. We are currently seeing a generational shift of Baby Boomers moving into retirement, with an estimated 10,000 individuals of that demographic eclipsing the age of 65 every day. About 70% of Americans who reach the age of 65 are going to require long-term care at some point in their lives, so it needs to be addressed by families before that occurs.
As is the case in all topics related to physical and financial health, preparation is the key. Host Lou Scatigna, CFP® provides insight on how you can be prepared to cover long-term healthcare in this segment from The Financial Physician.