As many as 80% of the 60-and-older population are unable to afford either long-term care or basic necessities like food, highlighting serious financial challenges faced by older Americans.
The financial state of older Americans reveals that despite some increases in income and assets, many still cannot support themselves during financial hardship—illustrating the importance of planning.
A lack of true awareness regarding the costs associated with aging may contribute to financial challenges, as many assumptions surrounding Medicare and care options can be misleading.
Nearly 70% of those aged 65 and older face health issues necessitating dedicated long-term care, yet many are resistant to acknowledging their potential future needs.
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