Long-Term Care: The service that most of us need but hardly anyone owns

Whether we experience it with one of our parents or need it during our own retirements, long-term care is something that seems to escape our attention and interest until it unexpectedly bites us. Every day, until 2030, 10,000 baby boomers will turn 65 and 70% of these seniors will require some type of long-term care. According to a cost of care survey in 2020 by Genworth, the nationwide median cost for a private room for long-term care services is $8,821/month (over $105,000 per year).  If you haven’t made a plan and committed some portion of your assets to coverage for these probable costs, you are potentially risking ALL of your assets. For more information on LTC, please click this link…https://www.consumeraffairs.com/health/long-term-care-statistics.html