 |
Long Term Care
Long term care is needed by those who can't perform the basic tasks required to take care of themselves. This can include people suffering from a debilitating illness or chronic injury. The need for long term care can arise unexpectedly, often creating a large financial burden. This calculator can help you determine if you are financially prepared for this impending expense.
Need guidance on long term care insurance?
Call our Boca Raton office for a complimentary
long term care insurance consultation
1-800-366-9120, Ext. 30
- Definitions
- Estimated
daily cost
-
This is your current estimated cost of long term care. In 2004,
the estimated the average cost for a nursing home stay was over
$60,000 per year for a semi-private room. This is about $169
per day. The cost for a private room was just over $70,000 or
$192 per day. Assisted living at home can cost more than $36,000
per year or $18 per hour for a home healthcare aid. Both of
these long term care costs can be considerably higher in larger
metropolitan areas.
-
- Years
of care
- The
number of years you expect to require long term care. The average
stay in a nursing home is about 2.5 years, but can vary considerably.
-
- Inflation
rate
-
What you expect for the average long-term inflation rate. A
common measure of inflation in the U.S. is the Consumer Price
Index (CPI), which has a long-term average of 3.1% annually,
from 1925 through 2004. We will increase the cost of your long
term care by this rate each year.
-
- Funds
currently available
-
The total amount that you have saved or invested that would
be available to pay for long term care expenses.
|
Barry Financial Group’s Words of Wisdom
Think Long-term...
(Minimum 7-10 years)
Think Money Management...
Think Diversification...
and above all...
Think Patience!
|
|
Securities offered through Securities America, Inc., Member FINRA/SIPC, James A. Barry, Jr., James Michael Barry, Marc Scheiner, and Richard Greenhill, Registered Representatives. Advisory services offered through Securities America Advisors, Inc. A SEC Registered Investment Advisor. James A. Barry, Jr., James Michael Barry, Marc Scheiner, and Richard Greenhill, Investment Advisor Representatives. Barry Financial Group and Securities America are separate entities.
Why
Barry Financial * Business Watch
* Financial Services Offered
* Financial Planning * First
Appointments
Seminars * Educational
Products * TV Show Listings
* Speaker Bureau * Disclosure
* Wealth Management
Estate Planning * Retirement
Planning * Business Planning
* Tax Planning * Insurance
* Asset Protection
Charitable Giving * Need
for Financial Planning * Case Study
* Consultation * Financial
Tools * History
What Sets Us Apart * Message
from the Founder * Professional
Staff * Financial
Planning Articles
Newsletter Alert * Contact Us
Website Design by Webcast
1, Inc. |
|
