4 Ways to Pay for Your Parents’ Long-Term Care | The Motley Fool

The Motley Fool
Nov 5 · 4 min read

You thought you’d conquered life’s biggest financial milestones, including paying your kids’ college tuition, financing your eldest daughter’s wedding, and building up a nest egg for yourself. But now another challenge looms ahead: figuring out how to pay for your parents’ long-term care.

A quick look at the numbers shows how big this challenge really is. A 2019 Genworth study pegs the national median cost of an in-home health aide at $52,624 per year. And if one of your parents needs more advanced care in a nursing…

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