Getting old is big business.
Seventy percent of all Americans who reach age 65 will need some kind of extended healthcare during their lifetime, and 20% will need care for more than five years, according to the U.S. Dept. of Health and Human Services. The cost of care can run over $1 million and is increasing at close to 5% a year. Such costs can decimate clients' retirement income and force them to liquidate their hard-earned assets. At best, there will be less left for their families; at worst, they'll run out of money completely.
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