The calculator builds on Northwestern Mutual's Cost of Care research, released earlier this year, which surveyed nearly 7,000 home health care providers, assisted living facilities and nursing homes across the U.S. and revealed stark differences in costs for long term care services in geographic locations across the country.
"It is clear that most people simply can't afford to pay for long term care by drawing on their retirement nest eggs," says Terence Holahan, Northwestern Mutual. "Planning for long term care is about protecting both your assets and your lifestyle when you are unable to care for yourself; this new calculator helps educate consumers about the potential cost of a long term care event and how it can vary by age, location and length of time the care is needed."
