One key item in retirement planning which is difficult to assess is the expected costs of long term care. Fortunately, statistics are available for us to use as a guide in our personal planning. The statistical guide that I would like to highlight in this blog came from Northwester Mutual. They put together this fantastic table which breaks down the average cost of long term care by each state and even many major cities. Further, they broke down long term care into these three segments: Nursing Home Daily Average, Assisted Living Monthly Average, and Home Health Care Hourly Average.
Click here to see the entire table.