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https://www.fa-mag.com/news/baby-boomers-may-be-better-prepa...

The lack of preparedness is particularly concerning when it comes to health care, according to the report. In a survey of 1,500 middle-income boomers, the center found that just 18 percent had placed a high priority on receiving nursing or long-term care during retirement, yet 45 percent expected they would need long-term care at some point.

At the same time, the respondents seemed to be thinking more about their legacy and estate plans: 81 percent had made at least one formal preparation for what will happen when they die.

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The Baby Boomers I know with a large enough fortune to worry about an estate plan have also planned for long-term care. They just don't see the utility of involving a for-profit long-term care insurer and the 20% skim rate that entails.

intercst
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the center found that just 18 percent had placed a high priority on receiving nursing or long-term care during retirement, yet 45 percent expected they would need long-term care at some point.



from the below link: 78%: Percentage of the elderly in need of long-term care who receive that care from family members and friends.

https://www.morningstar.com/articles/564139/40-mustknow-stat...

If my math is right that leaves 10% that need to pay for long term care...yet 18% are paying for it!

Mike
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...the center found that just 18 percent had placed a high priority on receiving nursing or long-term care during retirement, yet 45 percent expected they would need long-term care at some point.

After seeing the train wreck Dad's LTHC insurance was, we chose to self-insure. I also have no qualms about deciding my own departure date, should I be capable of doing so. Insurance companies make compensation such a battle. My parents had Sis, a nurse, handling their paperwork, and it was a bear to handle even for a younger health professional. Given the insurers standard operating procedure of rejecting claims multiple times til you persist long enough to get it paid, I doubt I could handle that down the road. Heck, don't have the frustration tolerance to deal with it now. DH has been told he may not die before me, since he handles insurance. Frankly he considered insurance paperwork a second job when our son had his accident. Imagine the increase in productivity if we could get rid of all that paperwork!

IP
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The lack of preparedness is particularly concerning when it comes to health care, according to the report. In a survey of 1,500 middle-income boomers, the center found that just 18 percent had placed a high priority on receiving nursing or long-term care during retirement, yet 45 percent expected they would need long-term care at some point.

Some boomers..... gotta wonder if the survey was just a bit self-serving considering the source.
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"In a survey of 1,500 middle-income boomers,"

And just what is a middle-income boomer?
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And just what is a middle-income boomer?

From the article : "The center surveyed boomers between the ages of 54 and 72 with annual household incomes between $30,000 and $100,000 in October."

Why would anyone post the details when it would lessen the impact of the sky falling ?
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The future - an assisted living home? - a hospice care facility?
- a car crash? - an apocalyptic fryer in Phoenix? - a walk in the
sun on the beach?

And folks want insurance for any of the above?
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