Seniors should prepare for long term care needs.

Commentary July 01, 2009 at 08:00 PM
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44% of pre-retirees will be at risk of not having enough savings to maintain their current lifestyles once they retire, excluding health care and long term care costs.*

64% of pre-retirees will be at risk of not having enough savings to maintain their current lifestyles once they retire, including health care and long term care costs.*

24% Probability that a 65-year-old in 2010 will spend a year or more in a nursing home.**

75% of long term care policies cover both nursing home care, and in-home care.***

Source:
*Center for Retirement Research
**Congressional Budget Office
***Brown and Finkelstein

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