Those Who Needed Long-Term Care Were More Likely to Die Broke

Among Americans who had $171,365 to $1.8 million in savings at age 65, those with greater long-term care needs were much more likely to deplete their savings than those who did not need long-term care.

A bar chart showing that of Americans who had substantial savings at age 65, 2% who did not need long-term care died broke, 8.6% who needed long-term care died broke, 17.6% who had paid help died broke, and 23.6% who lived in a nursing home died broke.
Note: The percent who died broke is the percentage of each group of people who reported a net worth of less than $3,000 by the time they died. Groups of people were those who at age 65 reported to the Health and Retirement Study a net worth in the 50th to 95th percentile, between $171,365 and $1,827,765 in 2020 inflation-adjusted dollars, and who subsequently either needed or did not need long-term care.
Source: KFF Health News-New York Times analysis of Health and Retirement Study data from 2000 to 2021
Credit: KFF Health News and The New York TimesEmbedDownload image