Aging Right at Home: Cost of Long-Term Care in Your Retirement Plan

Aging Right at Home is a monthly blog series, answering your questions on providing care for individuals with disabilities, loved ones with dementia and older adults aging in place. If you have a question, please submit to questions@rightathomenova.com.

Our retirement dreams might include travel, hobbies, spending more time with family and having time for all the other things we’ve always wanted to do. So we carefully budget for years. But studies show many people forget to factor in a significant expense they’re likely to encounter after retirement: the cost of health care.

Neglecting this could really throw your retirement plan off track. This is especially true as people turning 65 today are advised to set aside at least $150,000 just for out-of-pocket care costs they’re likely to incur for holistic healthcare.

Here are a few things to consider as you plan for the cost of care as an aging senior:

Read "Aging Right at Home: The Cost of Long-Term Care in Your Retirement Plan", ARLnow.com, September 7, 2021.