New AI Tool to Answer One of the Hardest Retirement Questions We All Face

When it comes to retirement planning, there’s one financial wildcard, one blind spot that can upend the best-laid plans: the high cost of long-term care — if you ever need it.

Like many people, this reporter has not given much thought to the cash cushion or funding vehicles to pay for long-term care (LTC) later in life. My wife has an LTC insurance policy she got through work 15 years ago that will offset her costs. However, despite diligently building a retirement nest egg, I never really investigated whether I would need long-term care, how much it would cost, and, more importantly, how I would pay for it. Like most folks, I have read stories citing cost guesstimates based on the “average” person. But I’ve done little planning specific to long-term care.

https://www.kiplinger.com/retirement/retirement-planning/i-tried-a-new-ai-tool-to-answer-one-of-the-hardest-retirement-questions-we-all-face