Center for Retirement Research at Boston College recently calculated the National Retirement Risk Index.
They determined that even if households work to age 65 and choose safe investments for all of their financial assets, 61 % of households are still ‘at risk’ when the possibility of long-term care costs are figured in. ‘At risk’ means they will be unable to maintain their standard of living in retirement.
See the report here.
When the risks are this high, everyone needs to consider having a plan to deal with the risk.
To make a plan for your family, contact Mannor Law Office.