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LONG
TERM CARE - FINANCIAL BURDEN
The national average
for nursing home care is approximately $46,000 and could be as high
as $80,000 in more expensive areas. The financial risk is substantial
and can deplete a person's assets rather quickly. Furthermore, expenses
for long term care are expected to triple in the next 20 years!
 All
of the assets you worked all your life for to accumulate are at
risk should you need long term care. Your stocks, 401k, pension,
social security, home (if you are single), CD's and bank accounts
are not safe from long term care expenses.
Should you have your
family caring for you, their financial situation could be at risk
as well. The care given could tire your caregiver quickly, make
them late for work or limit their ability when working. Not only
could this cause a financial burden for them, it is very stressful.
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