I think it's actually quite an important point from a financial planning perspective.Does it matter
I would guess that the probability that a 65-year old man will require long term care (whether at home or in a nursing home) at some point in his life is around 30% and around 40% for a 65-year old woman (given the fact that women longer than men).
However, that's just a guess - I've nothing to back it up.
Here are some US statistics on the % of people at various ages that will require some form of long-term care assistance at some point during their lives.
It looks like I materially underestimated the probability for a 65 year-old. Apparently there is a 52% probability that a 65-year old will require LTC at some point during their life.
Pretty sobering stuff.
Must-Know Statistics About Long-Term Care: 2019 Edition
Our annual compendium of long-term care statistics on usage, cost, insurance, and caregivers.www.morningstar.com
Surely a lower life expectancy at 65 would imply a lower probability of requiring some form of LTC at some point (all else being equal)?For starters their life expectancy is less than ours due to a multitude of factors.
For starters their life expectancy is less than ours due to a multitude of factors.
Ireland ranks 14th, USA 38thThis is wrong. Male and female life expectancy at 65 is basically the same in the US and Ireland.
I would love to see some comparable Irish statistics because I do think this is an important issue.
When Nphet I think were trying to find out what excess deaths were caused by the corona virus they had to use RIP.ie rather than the CSO because they dont gather those sort of statistics. Whats the reason ? other countries have these statistics.
This is life expectancy at birth.
In the US a lot more young people die from homicide, suicide, and car crashes than in Ireland.
Once you make it to 65 in the US your prospects are good.
We’re actually not that far behind the US on the obesity front.When you look at the average American at 65, you would wonder about the rate of obesity related diseases. I am not surprised they would be far more likely to use long term care facilities long term.
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