LONG TERM CARE - FINANCIAL BURDEN

The national average for nursing home care is approximately $46,000 and could be as high as $80,000 in more expensive areas. The financial risk is substantial and can deplete a person's assets rather quickly. Furthermore, expenses for long term care are expected to triple in the next 20 years!

All of the assets you worked all your life for to accumulate are at risk should you need long term care. Your stocks, 401k, pension, social security, home (if you are single), CD's and bank accounts are not safe from long term care expenses.

Should you have your family caring for you, their financial situation could be at risk as well. The care given could tire your caregiver quickly, make them late for work or limit their ability when working. Not only could this cause a financial burden for them, it is very stressful.