Posted 10/17/2023, 12:30:00 PM
Retirees Seek Advice on Long-Term Care Insurance, Life Insurance to Support Lower-Income Spouse
- 65-year-old man and 69-year-old woman have $200K annual income from pensions and Social Security
- They have $1.5M saved, half in retirement accounts and half in a taxable account
- Their main question is how much to set aside for long-term care insurance
- They are considering additional life insurance to cover costs for the lower-income spouse
- They should check if the lower-income spouse is truly ineligible for spousal Social Security benefits
