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Long-Term Care

If you’re like most people, you’re thinking, “I’m not going to need long-term care! I have my family to take care of me!”

Did you know that about 70 percent of individuals over age 65 will require some type of long-term care services during their lifetime and over 40 percent will need care in a nursing home for a period of time?¹

Long-term care insurance is a key component of any retirement plan. Spending time in a nursing home, an assisted living facility, or receiving home health care can be very expensive, and these expenses are not typically covered by health insurance.  Long-term care insurance is designed to cover some or all of these expenses. Plus, the premiums paid for qualified long-term care insurance are considered qualified medical expenses paid from an HSA and thus are not included in gross income for income tax purposes.

Consider these figures:

1. One year of care in a nursing home, based on the 2007 national average, costs over $66,000 for a semiprivate room.¹
   
2. One year of care at home, assuming you need periodic personal care assistance from a home health aide (the average is about three times a week), would cost almost $16,000 a year.¹

Picture the perfect life …
When you retire from your job, one phase of your life clearly comes to a close.  The more important matter, we believe, is the phase of your life that’s about to begin.  This is what you’ve been working toward and planning for your entire life.  Retirement.  The Wealth-Enhancement-Group process allows you to envision what you want your retirement to look like and devise a plan that makes that vision a reality.

Study after study has shown that retirees who continue to pursue lifelong dreams and goals live longer, happier lives compared to those who have not planned for retirement and are not able to pursue their passions later in life.  Whether you’re just starting your retirement planning and want to ensure your money will last through your retirement or you simply want a fresh perspective on the direction of your retirement planning, our team is here to help. Let us help you prepare for a worry-free retirement so that you can reap the rewards of your life’s work and just enjoy yourself!