Because women live longer, require more care and tend to be the primary caregivers in their families, long term care falls disproportionately on their shoulders.
Yet according to a recent survey by Genworth Financial women face challenges talking to their families about putting together a financial strategy to deal with long term care. Genworth’s survey found that 72% of women said that the biggest barrier to starting this conversation is the concern about upsetting family members, compared with 57% of men that voiced the same worry. Needless to say, seven out of 10 will need long term care in their lifetime.
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