“Tallying the Cost of Growing Older,” by Paula Span, New York Times   Quote: “Their results: Seventeen percent of 65-year-olds will need no long-term care. Almost one-quarter will develop severe needs, requiring many hours of help for more than three years. Most older people will fall between those poles, with 22 percent having only minimal needs. The largest group, 38 percent, can expect moderate needs — like support while they recover from a heart attack, after which they can again function independently. … The researchers calculated how much care retirees would need, how much they could receive from family and
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“10 Fastest-Rising Costs for Older Americans Since 2000,” by Ginger Szala, ThinkAdvisor Quote: “Since 2000, Social Security benefits have lost 32% of their buying power despite yearly inflation adjustments, the group found in a new study. While COLAs have increased Social Security benefits 55% in that time, the typical older adult’s expenses have increased by 104.8%, according to the study.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Will Social Security always pay benefits? Yes. But you may not be able to afford anything with what it pays. This is how government entitlement programs wind down.        
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