How much do my spouse & I need to self-insure for Long Term Care? Is $400k enough?

A: You might need as much as $1,500,000 to self-insure for long term care. We are currently spending $1500/week for my Father-in- Law and his Wife. That is $390,000 over 5 years, $780,000 over 10 years in today’s dollars. Inflation for medical care is rising faster than for other goods and services. With a projected 37% of adults age 65 projected to need assistance, planning for this very real issue is important. There are many different ways to fund for Long Term Care. Feel free to contact me to discuss this issue. nancy@financialgroup.com or 407 869-9800.