Less than 10% of Americans aged 40 or older have moved into a senior living community as part of a plan to prepare for their future long-term care needs, reveals a report from The Associated Press and NORC funded by The SCAN Foundation.
Even though 48% of Americans in this age demographic believe a majority of people will need long-term care at some point as they age, less than a quarter (24%) indicated they will personally need those kinds of services someday, found The AP-NORC Center for Public Affairs Research.
Studies show about 70% of Americans aged 65 and older will eventually need long-term care, but realistic preparation among middle-aged and older adults is lacking.
While nearly half have created an advanced directive—the most popular approach among those surveyed for preparing for long-term care needs—only about 7% have gone the retirement community route.
Nearly a quarter have modified their homes to accommodate aging in place, and about 35% have designated savings for long-term care.
Written by Alyssa Gerace