Years ago, a farmer and I were discussing long-term care insurance. He was having trouble grasping why he needed it and how he could pay for it. “Let me ask you something,” I said. “I’m looking out at your fields. I see all your cows…” “Yes, that’s everything I own,” he said. “And out in […]

The costs of medical and long-term care are often underestimated, and some retirees do not even consider them—and yet they are one of the primary reasons that people run short of money in retirement. According to a May 7, 2012 survey, conducted by Harris Interactive for Nationwide Financial, nearly half of high-net-worth Americans who are […]