Myth #2

 

"My clients will save the money to cover future Long-Term Care expenses"

 

 

Fact:  Anyone who’s had this thought should stop to consider two crucial questions about Long-Term Care: How much money will they need to save to cover it?  And (perhaps more important), when will they need to use the money?   LTC services can be very expensive and the growing cost of care presents a huge financial risk to your clients' retirement assets.

 

Those who plan to take on the burden of LTC expenses for themselves, a spouse/partner or other loved one could impact their lifetime savings much faster than they expect.....especially if that need for care comes earlier in life.

 

Consider the facts:

 

•  The average national cost for a one-year stay in a private nursing home room is now over $100,000.


•  Of all Americans age 65 and up today, 1-in-5 will require LTC services for five years or more. 


•  At today’s average cost, a couple with $500,000 in assets would deplete their savings in just a few short years paying for LTC services. 
 

Try to put it into the proper perspective with one simple question:  "In the event you need care, which of your assets will have to tap first?"  The answer will likely be the same whether it's today or twenty years from now; the difference is whether your clients want to address it CALMLY today or in CRISIS tomorrow.....

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