Nursing Home Poverty

Long-Term care is expensive. According to commonly cited statistics, if you are age 65 and single, odds are about 50 percent that you will need long-term care. If you are age 65 and married, odds are about 75 percent that you or your spouse will need long-term care. The average stay is 2.5 years. Nationally speaking, the average cost is $90,000. How will you pay for it? Forget about Medicare or Medigap footing the bill. Is this a concern to you? If yes, then the earlier you plan, the greater your planning options.