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44 Don’t Make Me Say I Told You So
The Fidelity study doesn’t include costs for dental care
or long-term care. In a Fidelity study, it was estimated that
the average 65-year-old couple would need $85,000 to cover
insurance costs for long-term care in retirement. 3
Nursing Home Or Other Long-Term-Care
Costs
As Baby Boomers retire, their increased longevity will contribute
to an increased demand for nursing home and other long-term
care services, which may include an assisted living facility and
home-based healthcare. According to a study by Prudential
Insurance, “Roughly 70% of people over 65 require some form
of long-term care, and more than 30% will receive some nursing
home care, in their lifetime.” 4
The costs for any of these long-term care services, either in
a nursing home, an assisted living facility, or home healthcare,
are quite high, and getting higher all the time. Here are the costs
for various long-term care services in 2019:
Chapter 2: You’ll Need More Money Than You Think
