The Livens Law Firm

Long-term care planning for a happy retirement

After a lifetime of working, most are excited for the time when they can retire and sit back, relax and enjoy life. Saving for health care and investing in long\-term care insurance before retirement can reduce the stress that many seniors now face. In Texas and other states, many seniors claim their golden years are being tarnished because of high health care expenses.

According to data released by the Nationwide Retirement Institute, health care costs are holding many seniors back from enjoying their retirement years. Roughly 80 percent of seniors who have been retired for over 10 years say they were blindsided by health issues earlier than expected. Experts say saving early and purchasing the right insurance can help ease the pain of future medical costs.

Many seniors are unaware of the cost of medical care. After age 65, the average man can expect to spend about $189,000, and for women, the cost is about $214,000, according to a medical cost-projection company. These costs do not include long-term care, which can run $267 a day for a private room. Long-term care is not covered by traditional Medicare plans.

By taking steps before retirement, some can invest in long-term care insurance with discounted premiums. Having an additional policy in place to cover medical costs could help with the out-of-pocket expenses that can quickly deplete savings. Estate planning attorneys in Texas can work with clients to determine the best coverage for their needs. Preparing now for the future will provide peace of mind and less disruption to one's golden years.

Source:, "Will This 1 Thing Destroy Your Dream Retirement? -- The Motley Fool", Maurie Backman, May 1, 2018

No Comments

Leave a comment
Comment Information

Schedule A Consultation With An Attorney

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

2516 Harwood Road
Bedford (Fort Worth), Texas 76021

Toll Free: 800-569-2663
Phone: 817-545-3425 (FW)
Fax: 817-545-9847 (FW)
Map & Directions

14135 Midway Road
Suite G-250
Addison (Dallas), Texas 75001

Phone: 972-685-5202
Fax: 972-685-5206
Map & Directions

Livens & Reed

Free Initial Consultation | Se Habla Español

Bedford (Fort Worth): 817-545-3425 | Addison (Dallas): 972-685-5202 | Toll-Free: 800-569-2663