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Even the best-laid plans can go awry. Individuals face many hurdles to adequate planning for retirement and, even when precautions are taken, they may be overwhelmed by a big enough shock. In particular, large medical and long-term care spending shocks can devastate retirees’ hard-won finances…
Many older adults will require some degree of long-term care (LTC) later in life, with more than half needing more intensive support, often for an extended period. The resources required to meet such high-intensity, long-duration LTC needs – provided by family members or through paid formal care – can be substantial. This paper addresses t…
