The articles and links to third-party websites contained on this page are provided solely as a convenience to you and should not be construed as an endorsement of the content nor are they intended as investment advice.  We make no representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues


Underestimating Long Term Care Costs

long term care costsBy Richard Eisenberg

 

Americans are drastically underestimating to cost of long term care.

According to a 2016 Genworth study, the average American underestimates the cost of in-home care by nearly 50%. With in- home care as the most popular type of long term care being used by older Americans it important to realize the monthly cost averages about $3,900.

Why are we miscalculating? For most, the first time people give ‘serious’ thoughts to the costs is when they need them. With no previous experience it’s easy to come up short in the calculation. Most don’t consider how many of in-home hours of care will be required – and they can add up fast. All these factors cause a great discrepancy in our perception of the cost and the actual cost of care as we get older.

Learn more here for long term care costs.

 


Categories: Long Term Care

AS SEEN IN

As Seen In
Marty Higgins Women's Choice Award

MEET MARTY HIGGINS

Martin V. Higgins CFP, ChFC, CLU, AEP, LUTCF, RHU is a Certified Financial Planner, author and retirement income specialist who helps people prepare financially for retirement by designing written retirement income plans for people who may need to last 30+ years.

He is the CEO of Family Wealth Management and creator of “The WealthCare Process” designed to simplify and coordinate the financial affairs of his clientele of pre-retirees, retirees, widows and small business owners. He’s won the Women’s Choice Award for Financial Advisors and Firms.

His latest book “DistributionLand”, published in October 2014, immediately became an Amazon Best Seller and is a must read for anyone preparing for retirement.

 

The Women’s Choice Award Financial Advisor program was created by WomenCertified Inc., the Voice of Women, in an effort to help women make smart financial choices. The program is based on 17 objective criteria associated with providing quality service to women clients such as credentials, experience, and a favorable regulatory history, among other factors. Financial advisors do not pay a fee to be considered or placed on the final list of Women’s Choice Award® Financial Advisors, though they may have paid a basic program fee to cover the cost of a client survey through Advisor Impact. The inclusion of a financial advisor within the Women’s Choice Award Financial Advisor network should not be construed as an endorsement of the financial advisor by WomenCertified or its partners and affiliates and is no guarantee as to future investment success. This portion is updated periodically. Please access updated content here: http://www.womenschoiceaward.com/financial-advisor-information.

Follow Us

Facebook
Find us on Google+
LinkedIn
Twitter

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. Registered representatives offer securities through Mutual of Omaha Investor Services, Inc. Member FINRA/SIPC. Investment advisor representatives offer advisory services through Mutual of Omaha Investor Services, Inc. Family Wealth Management and Mutual of Omaha Investor Services, Inc. are not affiliated.

Top