Planning For Long-term Care

Planning for long-term care is an essential step in securing your future and easing the financial burden on your loved ones. With nearly 70% of Americans over 65 expected to need some form of care, understanding your options—whether in-home support, assisted living, or nursing facilities—is crucial. The cost of care continues to rise, making it important to explore funding strategies, including insurance coverage and savings plans, to ensure financial stability.

Many families rely on caregivers, often adult children, who may face financial and emotional challenges while providing support. Without proper planning, long-term care costs can strain retirement savings and create difficult tradeoffs. Having open conversations with family members and working with financial professionals can help create a well-rounded strategy for future care needs. Learn how to create a solid plan, explore insurance coverage and prepare for potential healthcare needs as you age on USAA.

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Tags: ADL, Caregiving in the U.S. 2020 report, financial situation, Genworth study, Life insurance companies, Merrill Lynch study, retirement expenses, the National Alliance for Caregiving and AARP's, The same HHS study, U.S. Department of Health and Human Services (HHS).