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Chapter 10. Long-Term Care > Financing Long-Term Care

Financing Long-Term Care

The simplest way to pay for long-term care is not quite as simple as it seems. Self-insure. Pay for the cost out of your own savings. But, for many people, paying the huge cost of long-term care in a nursing home for years is not a viable option.

Your Home

Use your home as a source of funds. Many older Americans inherited their homes or bought them for relatively small amounts of money (although it may not have seemed so at the time) and now find that the worth of the smallest of houses has grown tremendously. Sell it. Sell it to your children. Rent it out. Take out an equity credit line that will allow you to tap into the equity you have built up in the home throughout the years.


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