Don’t Let Care Costs Deplete Your Estate
Long-term care costs can deplete your assets at an alarming rate. Many people will enter a nursing home during their lifetime, where they will incur the average monthly cost of $13,000 for an average stay of 2 ½ years. In most cases, you will have spent the majority of your life working and building your assets so that your retirement will be well funded, but retirement comes at a time when the possibility of catastrophic illness is more likely. Planning ahead will mean the difference between spending your assets to finance any needed care and preserving your assets for your family.
by: Gina M. Barry