Calculate the cost of future long term care:
A couple, age 65, has a 70% chance of needing long-term care. More than likely some care will take place in the home before facility care is needed. The cost of home care will likely be greater than the cost of facility care. Below you can calculate the expense of your anticipated facility care.
The average age of those needing facility care is 85.
The average stay is 2.2 years for a male and 3.7 years for a female.
This calculator will assume these averages.
Since 1968 the cost of nursing home care has risen an average of 7.2% per year. Assisted living costs and home care costs have risen between 4% and 11% over the past several years. This calculator assumes a very conservative 5% cost increase in the coming years.
What is your age?