You’ve done everything right. Saved diligently. Paid off the mortgage. Dreamed of the beach condo and time with grandkids. But there’s a storm many retirees never see coming until it’s too late — and it wipes out everything they’ve worked for.
That storm is long-term care.
According to the U.S. Department of Health and Human Services, 70% of people turning 65 today will need some form of long-term care during their lives. Yet, only a fraction have a strategy for it. Why? Because it’s uncomfortable. Because we think it won’t happen to us. But ignoring it doesn’t make the risk go away — it magnifies it.
Let me share a story.
Frank and Linda were both 68, recently retired, with over $900,000 in assets. They had no long-term care insurance and believed “Medicare would cover it.” Then Frank had a stroke. Rehab was lengthy, recovery was slow, and Linda couldn’t care for him alone. Within 16 months, they had drained over $180,000 of their savings on in-home care and modifications to their home. They had to cancel trips, stop giving to their church, and rethink their entire retirement.
This isn’t rare — it’s happening every day.
Here’s the truth: Medicare doesn’t cover long-term care. Medicaid only kicks in when your assets are nearly gone. So unless you’ve planned for it, you could spend your golden years worrying about nursing homes instead of sunsets.
You have options:
But the key is planning early, while you’re still insurable and can choose from the best strategies.
“Aging is inevitable. Planning for it is optional — and too many people choose wrong.”
— Drew Stevens, The Retirement Professor
Reflection Question:
If you or your spouse needed care tomorrow, where would the money come from? Could you preserve your dignity, your choices, and your lifestyle?
#LongTermCare #RetirementPlanning #WisdomToWealth #TheRetirementProfessor #SecureRetirement #LTCPlanning #FinancialFreedom #AgingWel
