A year in a nursing home averages $78,110 a year, says the Metlife Mature Markets Institute. Not including that, a 65-year-old couple today will spend $230,000 on out-of-pocket medical expenses, estimates Fidelity.
Long-term-care insurance can be a safety net, though it's expensive (about $3,000 a year for a couple in their fifties today).
You're a good candidate if you're a woman (longer life expectancy); have a family history of diseases like Alzheimer's, dementia, or Parkinson's; or you have assets of $250,000 to $1.5 million (less and the price is too high, more and you can self-fund).
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