Long-Term Care Calculator
Calculate your long-term care costs with our comprehensive calculator. Estimate future care expenses based on care type, location, duration, and current care costs.
Step 1: Care Details
Understanding Care Types
Home care includes in-home assistance with daily activities. Assisted living provides housing and personal care. Nursing homes offer 24/7 medical care. Costs vary significantly by location and care level.
Step 2: Financial Details
About Long-Term Care Costs
Long-term care costs can vary significantly by location, type of care needed, and duration. Most people require care for 2-3 years, but some may need 5+ years of assistance.
Long-Term Care Cost Results
Estimated Total Care Cost
Care Type Cost Comparison
| Care Type | Avg. Monthly Cost | 3-Year Total | 5-Year Total |
|---|
Annual Cost Breakdown
Cost Calculation Formula
Total Cost = Σ (Monthly Cost × (1 + Inflation)Year × 12)
Long-term care costs increase annually due to inflation. The calculation sums the inflated monthly costs over the care duration. Year 1 uses the base monthly cost, Year 2 increases it by the inflation rate, and so on for each year of care.
Need Professional Long-Term Care Planning?
Connect with our financial planning experts for detailed long-term care analysis, insurance options, and cost-saving strategies for your retirement planning.
Get Professional Analysis