Don’t put all your (NEST) eggs in one basket.
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.
For seniors, home health care can cost $49,000 or more per year, and nursing home care can run as high as $97,500 per year.1 Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that number 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 if purchasing a long-term care insurance policy may be the right move to help you feel confident in your financial future.
Have Questions for Kelly Financial Services, LLC?
It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.