Long-term care
As we age, our chances of needing long-term care increase. This could also involve assisted living, nursing homes, or even in-home care. These types of costs could rapidly accumulate, slowly exhausting the larger part of your retirement savings, especially if you need preparation time.
A good piece of advice would be to purchase long-term care insurance while you’re still young and healthy to avoid unpleasant and unforeseen expenses. Start your research and try to compare different care options and their costs.
2 Responses
The worst cost is the ridiculous property taxes that the blue states have! NJ is the worst. That is a total waste of $$$!
I will sell my house in a split second. Worst decision I ever made was buying a house. Even though I have a low interest rate, I am sick and tired of being nickel and dimed to death with fees by my mortgage company.