Calculate the Required Savings for LTC

See how much long term care will cost you and calculate what adjustments you need to make to your savings plan in order to be able to cover those costs.

Explanation of the fields that need to be filled:

Your current age

Your current age.

The average annual cost for a private room in a nursing home is $90,520, and for a semi-private room is $81,030. As for the home health-care aid, the average cost for a year (assuming an 8-hour day) is $61,320.*

Learn more about long term care costs and dealing with them by reading our guide: Dealing with the costs of long-term care insurance.

*Source: MetLife’s Market Survey of Long-Term Care Costs for 2012

Annual cost of long-term care

Fill in the amount you will have to pay annually for long-term care. Generally this will depend on your location, as well as whether you will need a room in a nursing home or you will need assisted living at home.

Long-term care begins in

How many years you have before the time you may need long term care.

Years of long-term care

How many years you expect to need long term care.

Expected inflation rate

This is the average rate at which the cost of long term care increases annually. Currently this rate is about 3%.

Amount currently saved

The money you have saved specifically for long term care for the times when you might need it.

Additional monthly savings

The money you can save each month towards your future long-term care needs.

Our calculator assumes that you make those savings at the beginning of every moth.

Estimated rate of return

This is the expected annually compounded rate of return that you expect from investing the money you save. This rate depends on the types of investments you choose and is just hypothetical (cannot be predicted with certainty).

Our calculator does not take into account any taxes you may pay for your investments; therefore fill in only your after-tax rate of return.

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