Understanding LTC costs – Which Will Go First?
August 5, 2024As you approach or enter retirement, it’s important to consider the potential for higher healthcare costs and from which income stream or bucket of savings you will fund needed care.
But why?
Recent statistics show 7 out of 10 people over age 65 will have a long-term medical need – and most aren’t prepared for the cost1.
Many Americans will find themselves wondering, “Which asset will I spend down first to cover my medical care?” Even more concerning is that advancing age – even if you’re still working – could mean a shorter time to fund a Long-Term Care account while costs and likely hood of care required will continue to rise.
Here at Consha Financial, we’re focused on growing and distributing your money in the most effective way possible – but we’re also focused on preserving it, too.
Contact Richard Trabue at 678-539-9518 and we can discuss ways to provide for the possibility of funding long-term care while continuing to plan for other aspects of retirement.
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This blog is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
