There are two important things you can do to help make your transition into and beyond retirement as successful as possible. The first is to live healthy. This will give you the greatest chance of living a long and healthy life without the additional challenges of having to rely on nursing home care or other medical assistance. The second step that you can take is to plan ahead for the uncertain costs in the future.
Long term care expenses can run up to $10,000 a month for someone who has a long term care event such as a stroke and Alzheimer’s diagnosis, a heart attack or other situation that requires follow up care and long term care. A recent study was conducted to identify what they key is to happy retirement. While health is certainly one of the keys to happy retirement, it is also the biggest worry for many different people.
Finances were the biggest concern and source of worry for people over the previous 12 months, but Americans of all ages reported that their top financial concern in retirement was whether or not they or a loved one will have a costly health issue. Speaking to an estate planning attorney to protect the assets you have already built and determining a long term course of action to protect yourself is strongly recommended.