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Blog > Long Term Care Planning > You Can’t Afford NOT to Plan for Long-Term Care

You Can’t Afford NOT to Plan for Long-Term Care

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February 3, 2021 Long Term Care Planning

From planning for retirement to establishing an estate plan, your financial security relies heavily on the plans you make. These plans allow you to grow and protect your wealth more effectively, especially as you enter your senior years. In addition to your retirement and estate plans, do you have a long-term care plan? If not, you risk losing your entire life savings paying for care. Find out how a long-term care plan can save you money in the long run.

Read More: 8 Critical Mistakes Seniors Make with Long-Term Care Planning


How Can a Long-Term Care Plan Save You Money?

For most Americans, cost plays a major role in almost any decision. Before making a final decision, you weigh the pros and cons against the price to determine which option is better for you financially. Planning for long-term care is no exception. Much like any other good or service, you must cover any costs associated with purchasing Long-Term Care Insurance or working with an attorney. These perceived costs can often discourage individuals from seeking the education and assistance they need and prevent them from forming a long-term care plan.

Unfortunately, you can’t afford not to have a long-term care plan in place.

While you’d probably rather spend your hard-earned money on something other than paying an attorney to establish a trust or setting aside a few hundred dollars a month for Long-Term Care Insurance, these planning costs are worth it.

Save Thousands on Care Costs: Use Our Savings Calculator


Are You Prepared for High Long-Term Care Costs?

Although paying legal fees or purchasing Long-Term Care Insurance may seem like a lot now, these costs are nothing compared to the high cost of the nursing home or other long-term care facility.

  • The average cost of a home health aide is $4,576/ month.*
  • The average cost of an assisted living facility is $4,300/ month.*
  • The average cost of a nursing home is $7,756/month (for a semi-private room).*

*2020 Genworth Cost of Care Survey

The average stay in a nursing home is 2.3 years. Are you prepared to cover these long-term care costs for that long? The reality is, if you fail to plan ahead for your long-term care, you risk losing your entire nest egg in a matter of months.

Instead of focusing on the cost of an attorney or Long-Term Care Insurance, consider how much you are saving by properly planning for your future care. That’s the figure that matters.

Find out how much you could be saving on care costs with our FREE savings calculator. Simply provide some information about yourself and your situation, and we will show you how much you can save on your long-term care.


Call Senior Care Counsel at (844) 412-4222 to learn more about your long-term care planning options.

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