One of the biggest risk for retirement is not that you did not save enough, but all your savings are depleted by huge long term care cost.
You may have heard that JB nursing homes draw more and more Singaporeans. That is understandable. Because even with government subsidy, nursing home cost in Johor Bahru is still substantially lower than the cost in Singapore.
The hard fact is that we all will grow old one day. Does growing old means living in a nursing home in Johor Bahru for Singaporeans? How can you prepare for the long term care cost so it won’t end up draining your life savings before you can enjoy it? What is long term care insurance and how does it work?