Chart of the Day: How 40+ Americans are Planning for LTC Needs

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. 

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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.

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Written by Alyssa Gerace

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