January 27, 2014
It's certainly no surprise to insurance and financial advisors that many Americans nearing retirement grossly underestimate their future long-term care expenses.
A new survey by the Nationwide Financial Retirement Institute confirms this. It found that affluent Americans over the age of 50 estimate their future LTC costs at an average of $36,220 per year. In reality, such care could prove much more costly.
The federal Administration on Aging says current annual LTC costs range from ...