Without question, this would be the matter of long-term care and the expenses that go along with it. The United States Department of Health and Human Services tells us that seven out of every 10 people that are turning 65 on any given day will require living assistance.
Many of these individuals will be able to get the help that they need from family members and friends in their own homes, at least for a while. However, at some point, many seniors need a level of care that can only be delivered by a professional.
There are trained and licensed in-home health aides, but about 35 percent of seniors eventually reside in nursing homes. These facilities are very expensive, and Medicare does not pay for the custodial care that you would receive in a nursing home.