3. Planning for long-term care


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Planning for long-term care. “How should I prepare for the cost of a nursing home?”

Long-term care costs can destroy the financial security you worked long and hard to achieve.

To protect your family you should first assess the reality of long-term care costs and identify your long-term care options. Then you can decide whether long-term care insurance the right way to go.

The following subtasks may assist you in planning for long-term care. You will find detailed resources for these subtasks under the links in the right column of this page.

Subtask 1: Assess the various aspects of long-term care and its cost

Subtask 2: Define the options for funding long-term care

Subtask 3: Decide whether long-term care insurance is right for you

Subtask 4: Address an immediate need for long-term care


Emptying the Nest Tasks

1. Financing college
2. Revising your spending plan
3. Planning for long-term care
4. Preparing for retirement
5. Estate planning

Planning for long-term care Subtasks

1. Assess the various aspects of long-term care and its cost
2. Define the options for funding long-term care
3. Decide whether long-term insurance is right for you
4. Address an immediate need for long-term care

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