For any unexpected situations (i.e. accident) you may need long-term care which is expensive for sure. This calculator is ready to find out the possible amount of money required to offset this long-term care cost. Additionally, it will estimate the unprotected amount for this kind of long-term need. Just mention the amount of your estimated daily cost, current available funds, your estimated inflation rate, and numbers of year long-term care is required. Rest will be done by this investment calculator. The reports will graphically illustrate the outcome of this calculation.
Estimated daily cost
Estimated amount of money you will need everyday for long term care. This should include charges for events like staying in nursing home, rent of cabin in clinic, home healthcare aid etc. This cost will vary depending on area you reside and quality of long term care you desire.
Funds currently available
Available amount that you already saved or invested to meet this long term care expenses.
Date to calculate the present value. We assume that this is also the date of the first periodic payment if deposits are made at the beginning of a period.
Years of care
Expected duration of your stay under long term care. Among all the methods of calculating inflation rate, Consumer Price Index or CPI is used to estimate inflation in United States.