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What would happen to your retirement funds if you were suddenly unable to take care of yourself for a short time or even worse, an extended period of time? Many Hoosiers believe, incorrectly, that Medicare would pay for all these costs.
If you need care in an assisted-living facility or full-time care in a nursing facility, the cost can be $70,000 a year or more. Having someone come to your home to assist you, could cost $40,000 a year.
You may receive a letter from the State about the importance of planning for future long term care needs. As a resident of Indiana, you have many choices available to you and your family. The letter will include a return-reply card as well as a toll-free number that you can use to get more information.
We hope that learning about ways to protect your retirement savings will be beneficial.