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How Likely Are You to Need Long-Term Care Services?

How Likely Are You to Need Long-Term Care Services?

The phrase “long-term care” refers to a number of medical and non-medical services provided to people suffering from a chronic illness or disability. Such services help these individuals to maintain their health and personal needs. Most long-term care providers assist people with daily activities like dressing, bathing, and using the bathroom. Long-term care can be provided at home, in an assisted living facility or in a nursing home.

According to the U.S. Department of Health and Human Services, in 2007, about nine million men and women over the age of 65 will need long-term care services. By 2020, 12 million older Americans will need long-term care. Most will be cared for at home. In fact, an agency study revealed that family and friends are the sole caregivers for 70 percent of all elderly Americans needing long-term care. The research also showed that people who reach age 65 have a 40 percent chance of entering a nursing home during their lifetime. About 10 percent of the people who enter a nursing home will stay for five years or more.

Another research project concerning the likelihood of needing long-term care services was conducted by Milliman USA, an actuarial consulting firm. The results of the study were published in the December 2005 edition of LTCi Sales Strategies magazine:

Out of every 1,000 65-year-old policyholders:

– 449 will need LTC services
– 106 will need LTC for > 2 years
– 59 will need LTC for > 3 years
– 34 will need LTC for > 4 years
– 20 will need LTC for > 5 years

The length of stay also varies significantly depending on the policyholder’s gender and whether the policyholder is married or single. The two “extremes” for a 65-year old are shown (that for a married male (lowest) and a single female (highest)):

Out of every 1,000 married 65-year-old males:

– 302 will need LTC services
– 20 will need LTC for > 2 years
– 12 will need LTC for > 3 years
– 7 will need LTC for > 4 years
– 4 will need LTC for > 5 years

Out of every 1,000 single 65-year-old females:

– 555 will need LTC services
– 70 will need LTC for > 2 years
– 51 will need LTC for > 3 years
– 35 will need LTC for > 4 years
– 23 will need LTC for > 5 years

Going Back to Work? Looking at Popular Post-Retirement Jobs

Going Back to Work? Looking at Popular Post-Retirement Jobs

When you think about retirement, you may imagine clocking out for the final time and telling your boss to take this job and shove it. You may dream about a carefree days at the beach or on the golf course and plenty of long visits with your grandchildren. However, many of today’s seniors are envisioning an entirely different type of retirement: one that involves more work.

A growing trend in the U.S. shows that an increasing number of seniors are working well into their retirement years, taking on new jobs after their “official” retirement. Whether it’s because they need the cash or simply because they’re bored, some of these seniors are staying on the clock for many years after their 65th birthday.

According to the U.S. Department of Labor, the number of employed Americans between the ages of 65 and 90 has skyrocketed in recent years. As a matter of fact, 6.4 percent of Americans age 75 or older (more than 1 million seniors) were still working in 2006. That was up from 4.7 percent just ten years earlier.

But what kind of jobs are these seniors taking on so late in life? Here are a few of the most popular post-retirement jobs:

The Same Ol’ Job:

Many retirees are simply staying put in the same job they’ve held for years. After all, it’s often easier to stick with what you know. Some ask their employers if they can work fewer hours and take on a smaller workload for a reduced salary. For many retirees, this option gives them the best of both worlds: they continue to earn some income, but they also win some extra time to take on new hobbies, travel and relax at home.


Many seniors who were an expert in their field during their working years end up selling their expertise to other companies after they retire. For example, let’s say you are the most practiced technical guru in your company. After you retire, you could offer your tech services to other businesses—or even your old company.


Many seniors dream of cooking and baking their days away after retirement. So, why not make it into a post-retirement career?

If you’re a regular Martha Stewart in the kitchen, you should consider starting your own catering businesses. If you aren’t quite willing to run an entire business on your own, you could always look for job openings with a local catering company. That way, you can cook and bake to your heart’s content without having to deal with business headaches.

Store greeter

Okay, so it may seem a little cliché, but these welcome wagon positions are still extremely popular with retirees. Not only is greeting a low-stress way to earn some extra income, but it’s also the perfect prescription for bored retirees who want to get out and socialize. Store-greeter positions aren’t just limited to supermarkets anymore. These days, businesses from car dealerships to electronics stores are hiring happy greeters to welcome customers.

Tour guide

You’ve been around long enough to know every historical detail of your hometown. So, why not share some of that knowledge as a tour guide?

If you’re a history buff, you may want to look into job openings at the local museum, a nearby historical monument or a sight-seeing tour. Not only are these part-time tour guide positions flexible and fun, but they’ll also give you an opportunity to socialize with interesting tourists from around the world.

Of course, these are just a few of the countless jobs seniors are taking on after their “official” retirement. From temp work to customer service positions and everything in between, there’s an abundance of jobs available for retirees.