@retiresmarttony: Thinking you'll buy long-term care insurance when you need it? That's the most expensive mistake in retirement planning. 🚨 Here's the reality most people miss: Nearly 7 in 10 people over 65 will need long-term care at some point. Yet only about 1 in 4 actually expect they'll be the ones needing it. That gap is financially devastating. Private nursing home rooms now average $117,000 per year. In-home care runs over $75,000 annually. Without insurance, these costs drain retirement savings fast—almost 4 in 10 families use up most of their nest egg paying for care. But here's the catch: if you wait until you think you need coverage, you're probably already too late. In your 50s, only about 1 in 10 applicants get denied. By your 60s, that doubles to 2 in 10. In your 70s, 4 in 10 get rejected entirely. Applying in your late 50s or early 60s locks in lower premiums before health issues appear and disqualify you completely. The window for affordable coverage closes faster than most people realize—often before symptoms become obvious. For help protecting your retirement from long-term care costs, follow @RetireSmartTony for more retirement planning strategies. Slalom Wealth Management is a registered investment adviser. This platform is solely for informational purposes and is not offering advisory services or sales of securities. Investing involves risk and possible loss of principal capital. Comments by viewers and/or recognitions are no guarantee of future investment outcomes and do not ensure that a viewer will experience a higher level of performance or results. Public comments posted on this site are not selected, amended, deleted, or sorted in any way. If applicable, certain editing of personal identifiable information and misinformation may be deleted. Slalom Wealth Management is a registered investment adviser serving families that are preparing for retirement or have recently retired. #RetirementPlanning #LongTermCare #FinancialPlanning #InsurancePlanning #RetirementSecurity

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