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Don’t Make Me Say I Told You So 45

Average Cost of Long Term Care 2018
Long Term Care Service Average Annual Rate

Nursing Home Care (Private Room) $100,379
Nursing Home Care (Semi-Private Room) $88,348
Assisted Living Facility $46,350

Adult Day Health Care $18,746
Homemaker Services $49,372
Homemaker Health Care $50,668

Source: Association For Long-Term Care Planning, 2019

These rising healthcare costs will be burdensome for many

retirees, and will prove disastrous for others. Most Americans
believe they will live long, healthy lives and will not be a burden
to anyone. But nearly 30% of the Medicare budget is spent on

participants’ last year of life, suggesting rapidly deteriorating

health and high medical costs. 5

An article published by Morningstar, Inc. provides some

statistics on the average stay in a nursing home for people with
various ailments: 6

► Stroke: 21 months

► Cancer treatment: 36 months

► Alzheimer’s: 96 months

Chapter 2: You’ll Need More Money Than You Think