This post is sponsored by Genworth Financial. All opinions are my own. Read the full CFO disclosure policy here.
Now, Genworth Financial has a handy Cost of Care Map, which you can access by clicking on the image below:
For example, in California, the median cost for a private one-bedroom apartment in an assisted living facility is $42,000 per year. In 30 years, when I may need such care, the cost is projected to be an astonishing $181,522! Yikes! If you’re in a high cost-of-living area, you may want to check out this list of the 10 most affordable cities for long-term care.
The cost of health care is only going to go up. So it’s definitely worth investigating whether long-term care insurance is right for you. Start here to learn more about long-term care insurance.