If you are close to or past the age of retirement, you have probably spent a significant portion of your working life accumulating assets that could support you during your retirement years. From a financial nest egg to the equity in your home, you will likely rely on your savings to care for yourself as you age.
Unfortunately, longer life expectancies carry with them an often unanticipated negative consequence. Specifically, more adults may need intensive services as they age than in previous generations. From skilled nursing support that allows you to stay at home in your later years to residential care in a nursing home facility, your medical needs could quickly exceed the financial savings you have in place to protect yourself.