Personal Finance

Worried About Nursing Home Care? How to Pay for It With No Money

Worried About Nursing Home Care? How to Pay for It With No Money
Because of the high cost of long-term care, many people cannot afford it—especially those with low income. Shutterstock
Mike Valles
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The number of seniors in our country is constantly growing, and many are already elderly and getting older. Not everyone will need to spend time in a nursing home, but many will.

Statistics from SingleCare reveal that about 70 percent of seniors will need long-term care (LTC) at some time. Other people who are not seniors may also need it. They include adults who are sick or disabled and special needs children.

Long-Term Care Is Very Expensive

The cost of long-term care varies widely depending on where you live. Some states have an average LTC price tens of thousands of dollars higher than other states.
Mike Valles
Mike Valles
Author
Mike Valles has been a freelance writer for many years and focuses on personal finance articles. He writes articles and blog posts for companies and lenders of all sizes and seeks to provide quality information that is up-to-date and easy to understand.