Cost of Growing Older
Researchers calculated how much care retirees would need, how much they could receive from family and how much they could afford to buy (at $22 an hour for a home health aide in 2018). The study determined that 36 percent of people in their late 60s could not cover even a year of minimal care without exhausting their resources; only 22 percent could cover severe needs.
Having the right legal documents in place and a good long term care insurance policy will solve a lot of problems.
Read more on Tallying the Cost of Growing Older: https://www.nytimes.com/2021/10/02/health/elderly-health-care-finances.html