20 Financial Tips for Retired Married Couples
12. Don’t Forget about Long Term Care Costs
A big mistake that even the most informed retired couples make at times is neglecting to include long term care costs in the family’s financial plan. Although there is some coverage available through Medicare, to maintain the quality of care that most middle-class families desire when approaching this stage in life will require additional funding. Depending on the quality of care, these additional expenses may persist for several years depending on how long the individual or couple requires care before death. Unfortunately, if these costs are not accounted for prior to retirement, they can place a big financial burden on one’s children to have to deal with.
