But they need to start now, says Mark La Spisa, a certified financial planner and president of Vermilion Financial.
"If they wait until 65 to assess their situation, that's what causes anxiety," La Spisa says.
Do a 'financial fire drill'"Starting at age 50, you want to do a financial fire drill every day," La Spisa says.
Sign up for long-term care insuranceLong-term care insurance covers a host of services not typically included in regular health insurance.
"If you have quality long-term care, you are transferring the risk from yourself to the insurance company," La Spisa says.
Persons:
Mark La Spisa, La Spisa, Mark La, Carolyn McClanahan, McClanahan
Organizations:
Pew Research, Planning
Locations:
Vermilion, walkable