The Necessity of Long-Term Care in Retirement Planning
When helping their clients formulate plans for retirement, financial advisors must now account for life expectancies into the early 90s. However, the simultaneous need for long-term care planning isn’t accounted for nearly as widely as it should be, considering the significant impact that long-term care expenses can have on even the best-laid retirement plans. Unless a person is prepared with a comprehensive financial plan that covers the very real possibility of chronic illness during retirement, their financial health is at risk.
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