20 Financial Considerations for Retirement
13. Account for Nursing or Home Health Care
Another big financial consideration for retirement that many people overlook is accounting for nursing home or other alternative care needs as one ages. Many times, this mistake comes from a bad assumption on the part of many adult workers that Medicare is supposed to pay for long term care needs that are more than expected health care costs. This is not true. The only time that the American government pays for this type of care is for the poor. A popular alternative for those who simply cannot save enough money to pay for the care is to buy long-term car insurance before hitting one’s late 60’s in age.
