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Suze Orman says $5M in savings may not cover long-term care costs
Original: 'That’s not a plan': Suze Orman warns $5M in retirement savings won't protect you from long-term care costs
Personal finance personality Suze Orman is warning that even $5 million in retirement savings may not be enough to cover long-term care costs, telling savers that relying on a large nest egg alone is 'not a plan.' Her comments come amid growing concern over the rising price of nursing homes, assisted living and in-home care in the United States, with many retirees underestimating how quickly care expenses can drain savings.
Why now: Long-term care costs are rising sharply and her warning challenges the assumption that a large retirement nest egg guarantees security.
Evidence
- 'That’s not a plan': Suze Orman warns $5M in retirement savings won't protect you from long-term care costs · Yahoo Finance
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