Tuesday, December 2, 2008

Money & Business

Planning to Retire by Emily Brandon

No Surprise: Boomers Don't Want to End Up in a Nursing Home

June 11, 2008 01:51 PM ET | Emily Brandon | Permanent Link | Print

If I ever got sick, I think I'd like to be at home with my family. The other option for long-term care is, of course, paid caregivers. But if baby boomers of means have their way, they will be taken care of by a combination of the two, a new survey found.

Some 49 percent of adults between 50 and 70 years of age want to be taken care of at home by both family and professionals, according to a Lincoln Retirement Institute and Mathew Greenwald & Associates online survey of 1,011 adults with household incomes of at least $75,000 or total household financial assets of over $250,000 (not including the value of a home or other real estate). The rest of the boomers preferred long-term care at home with professionals only (35 percent), a nursing home (8 percent), and at-home care with family only (7 percent).

Tell me, who would you like to take care of you in your final days?

Tags: nursing homes | retirement | baby boomers

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Reporter Emily Brandon tells you how to get ready financially for retirement and to make your golden years the best they can be. You can E-mail Emily your retirement concerns at retire@usnews.com.

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