Ep #85: A Massive Expenditure That Nobody Talks About


Manage episode 329538400 series 2799517
By ER Doc Advisor. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

There’s a particular expenditure that 70% of those 65 or older today will incur and that number is anticipated to only go up in the future. Saying that alone could mean a lot of things: potatoes, a new phone, maybe a walking cane. But the expense I’m referencing is the main culprit for why the elderly, aged 75+, make up the fastest-growing group filing for bankruptcy. To top it off, it’s only getting more expensive at a pace faster than even education costs and it’s very difficult, and potentially impossible, to insure for. What is this mystery expenditure? Long-term care costs.

If you haven’t thought about it, you’re not alone. For today’s episode, we’ll get into the range of costs of care, who you may have to pay for it for beyond yourself, and how to pay, if necessary.

102 episodes