Certified Public Accountants
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Today, Americans are living longer than ever before, and this trend is expected to continue: over the next 50 years, the age-85-and-older population is expected to be the fastest growing segment of society. Unfortunately, as we get older, the chances of needing long-term care increase.
Long-term care refers to helping people with chronic conditions perform the essential activities of daily life, such as bathing, dressing, and eating; it can be quite costly. These are the main ways in which people pay for this type of care:
Without proper planning, the cost of long-term care can wipe out your savings and threaten your financial independence in retirement. Take measures now to preserve your assets and maintain control of your finances.