Kate Ashford

So you should budget for that and model different length stays.

So there are a lot of variables and it's kind of a complicated starting point, but there you go.

Absolutely, Elizabeth.

I think it really is an all hands on deck situation.

If you have the money somewhere, I think you're using it.

So people are certainly using social security for these expenses, their personal savings, retirement accounts for sure.

I mean, this is what that money is for, right?

You're in your retirement years.

So definitely pull from those accounts.

Home equity, some people will sell their home and use that equity toward long-term care or a reverse mortgage if there's a situation where you're trying to stay in the house and

have in-home care.

Some people have long-term care insurance.

Some people are veterans, and there are some veterans benefits that are available to folks who have served at certain times or in certain places.

So contact the VA if you have questions.

I would note that Medicare does not cover long-term care, so that's not an avenue to go down.

And there's this sense, as people are contemplating this decision, that they don't want to spend down their assets because they're trying to leave a nest egg to their heirs.

But

I would say that your heirs would probably tell you they would rather you live comfortably at the end of your life.

So spend it.

MELANIE WARRICK- They're definitely watching out for that, yes.