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This retirement cost is inevitable — and can be insanely expensive

August 19, 2017

From the MarketWatch website

Long-term care is something not all Americans plan for, or even think about, though they should.

The numbers are overwhelming — an American turning 65 today has a 70% chance of needing some type of long-term care service, according to the U.S. Department of Health and Human Services, and though one-third of today’s 65-year-olds may not need it, 20% of them will for more than five years. Women, on average, need care for longer than a man — 3.7 years versus 2.2 years, respectively. About 10,000 people turn 65 years old every day, and will until 2029, according to Pew Research Center.

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