You may have never though of this, but it only takes one year of paying for custodial long term care to wipe out a significant portion (if not all) of the retirement assets that took you decades to accumulate.
New studies by the National Association of Health Underwriters and Medicare have suggested that more than 70% of all retirees who live to 65 years of age will need some form of long term care in retirement. That number is simply staggering.
The main reason for that is, people are living longer. Modern medical science has become quite good at keeping us alive longer.
The problem is, there’s a difference between living longer, and living well isn’t there?