A lot of talks about the aging baby boomers, their retirement years and the cost of long-term care are being discussed. Indeed there is a need to worry on who will pay for the baby boomers' long-term care cost. However, it seems that majority of these boomers are not aware of the coming dilemma.
According to a study, there is a bigger percentage of baby boomers who are likely to live alone, to be widowed or separated and who are childless in their older age compared to their parents. Therefore, there is a bigger number of individuals needing care in their older years who cannot rely on family members, which may result on big financial crisis for many baby boomers.
GuideToLongTermCare blog discussed how people see the importance of having long-term care insurance as a protection against an ltc event but still, people denies that they will be needing it and some are waiting too long. See how they tackle why people, especially baby boomers should acquire one, and other ways to have coverage.
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