As the oldest baby boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health. With at-home care services averaging $20 per hour1 and assisted living facility costs averaging $3,628 per month,2 it’s understandably daunting. Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?
Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.
We can help evaluate your situation and determine what kinds of products could fit into a comprehensive long-term care strategy, one that is suited to your needs and circumstances.
1 Genworth Financial. April 2016. “Genworth 2016 Cost of Care Survey.” Accessed Aug. 31, 2016.
It is important to feel you have control over your future. At Wealth Trac Financial, we offer our experience and knowledge to design a specific plan of action that helps you work toward your financial independence.
To schedule a time to discuss your financial future and the possible role of insurance or investment products in your financial strategy, contact us at firstname.lastname@example.org or call us at 888-519-9614 today!
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Investment advisory services offered through CoreCap Advisors, Inc., a federally registered investment advisor. Wealth Trac Financial and CoreCap are separate and unaffiliated entities.