Home » Insights » Retirement » Funding Long Term Care: What To Know
Doug Fabian
Senior Vice President
David Haman
CFP®, FBS®, Sr. Wealth Advisor
An estimated 52 to 70 percent of people who reach age 85 will eventually need some form of long-term assistance with daily activities such as feeding, washing, dressing, and mobility. The costs of professional long-term care can grow to several hundred thousand dollars a year—potentially draining your retirement assets or family members’ resources.
Long-term care (LTC) insurance is one way to help ease the burden and safeguard your savings. However, there are many factors to consider before you choose a policy. In this podcast episode, host Doug Fabian and guest David Haman, a Certified Financial PlannerTM in the Philadelphia office of Mercer Advisors, discuss:
David also explains why people should start by sitting down with their wealth management advisor to create a financial plan, which can help reveal whether a “long-term care coverage gap” exists and what other estate planning options may be helpful.
Learn more about connecting the dots of your financial life.
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