Long-term care is one of retirement’s most unpredictable—and expensive—challenges. The Genworth Cost of Care Survey reports that a private room in a nursing home now costs more than $9,000 per month on average. Without proper planning, one illness or extended stay can deplete a lifetime of savings in just a few years. Fortunately, there are legal and financial strategies that can protect your assets while ensuring you still qualify for quality care. Here’s what every retiree should know before a crisis hits.
