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Daily Q&A: How much can I expect to pay for long-term care in my older years?

How much can I expect to pay annually, if I need long-term care after age 65 and where can I find information about planning to stay in my home rather than a long-term care facility after retirement age?

The AARP says studies have shown 60 to 70 percent of seniors over 65 years of age will need long-term care. The average annual cost for long-term care runs about $75,000.

Those who want to remain in their home during their senior years can find checklists here that help with making your home accessible, as mobility decreases: www.aarp.org/homedesign.

For additional tips on how to put yourself in the best position financially to care for yourself or your parents, check out their website at www.aarp.org/decide.

Question for the Consumer's Edge? Send it to ipenn@sptimes.com or twitter.com/consumers_edge. Questions are answered only in this daily feature.

Daily Q&A: How much can I expect to pay for long-term care in my older years? 07/15/10 [Last modified: Thursday, July 15, 2010 2:53pm]
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