Empowering Women: Long-Term Care Expenses

Empowering Women: Long-Term Care Expenses

Each week on The Crash Proof Retirement Radio Show, Joann Small hosts a special Empowering Women Segment, in which she educates all listeners on the unique challenges women face when planning for retirement and the proven solutions available to them.

In this clip, Joann Small and Phil Cannella share shocking statistics about the cost of long-term care for all retirees, but especially for women.

Report Transcription

Joann Small said,

“So Phil, listen to these statistics from the Medicare Guide Annual Health financial survey. They discovered that most retired women have concerns about affording long-term medical expenses, but less than a quarter of retired women have money saved or earmarked to cover these expenses.” 

“And even though women are living longer than men and entering retirement with less money than men, women can expect to spend up to $176,000 in a nursing home for long-term care services compared to $142,000 on average for men.” 

Phil Cannella said,

“Now those numbers are a little bit deceiving to all of us because we live here in the Northeast this is an average of $176,000 Nationwide. We in the Northeast are going to expect to pay over $250,000 on average because of where we live.” 

To hear more stories and reports that will impact your financial future by visiting https://crashproofretirement.com/radio-show/ and by tuning into The Crash Proof Retirement Radio Show, Saturdays at 11 AM and Sundays at 1 PM on Talk Radio 1210 WPHT.