Let’s assume that a couple each year could faithfully put money aside for their long-term care needs. A fifty-year old couple that saved $1,600 a year, the premium for a policy that would pay about 2/3 of the cost for three years, and earned 10% for 30 years would have saved enough money to only pay for about one year of care at future prices. And, that amount would have to work for two people, not one year for each of them! Also, you probably didn’t accumulate the money you have by spending it when you didn’t have too? Do you plan to carry a homeowner’s policy when your mortgage is paid off?
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