When we're young and feeling good, we often take our health for granted. But almost everyone suffers injuries, disease and, eventually, the effects of old age.

Unfortunately, few of us ever plan for those eventualities. And that failure can have catastrophic results. Contributor Suzanne McGee, in her story, "The Big Question Mark," on page 54, tells us of one family paying $200 a day to cover the out-of-pocket healthcare expense of a 92-year-old man needing around-the-clock attention, and of another family whose patriarch is in a care center costing $400 a day. "He's been there for years," says a relative, "and won't be coming out."

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access