Do Households Have a Good Sense of Their Long-Term Care Risks?

Anqi Chen, Alicia H. Munnell and Nilufer Gok

Issues in Brief from Center for Retirement Research

Abstract: The brief’s key findings are:(1) About half of older adults will end up requiring some high-intensity long-term care (LTC).(2) The analysis explores whether people accurately perceive their LTC risks, comparing subjective and objective survey questions.(3) It turns out that the subjective measures are not good proxies for objective risk.(4) But the variation in the subjective responses suggests that Blacks, Hispanics, and women may be underestimating their risks.(5) These three groups also tend to have fewer resources to cover care needs.

Pages: 7 pages
Date: 2025-02
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