From John King: I want to share an article from Columnist Michelle Singletary of the Washington Post. Click below to be directed to her article…
We often talk about the significant cost of long-term care, but there’s something else to consider.
Live long enough — many of us will see our 90s — and you’re likely to need help with such basic activities as eating, dressing and bathing.
The cost of this care could decimate your retirement savings. The annual median cost of a stay in a private nursing home room is $100,375, according to a recent Genworth Financial report. A home health aide could run $50,336 a year.
But most long-term care services are provided by unpaid family members and friends, according to the National Institute on Aging.
My question to you: Are you equipped emotionally to accept the caregiving you may need?
