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[GROUNDED] Americans fear falling more than cancer

Post-pandemic, most Americans (85%) want to age at home and be cared for there if/when the need arises. However, nearly half of those not retired (47%) say they are concerned their current home will not be safe for them to "age in place."

According to the tenth annual Nationwide Retirement Institute® Long-term Care survey of 1,812 U.S. adults ages 24 or over and 706 caregivers, conducted by The Harris Poll in October 2021, many respondents worried about falling. "Many adults are concerned about navigating their home's stairs and step-up entries as they age," said Holly Snyder, president of Nationwide's life insurance business. "In fact, nearly half of those we surveyed (47%) said they are more afraid of falling than getting cancer."

Further, 80% of respondents agreed that it is important for them to live in a single-floor home when they age However, 68% of non-retirees said their current home has stairs.

The pandemic also raised respondents' concerns about nursing homes, Snyder added. “Our survey revealed that six in 10 adults would rather die than live in a nursing home. (The pandemic) also made people consider whether they have a plan that will allow them to age in place in their current home if they need long-term care."

Most respondents (70%) would like the option of relying on their family for long-term care if they need it, but two-thirds (66%)) worried they will become a burden to their family as they get older. Seventy percent would not expect a family member to provide long-term care if they were unable to compensate them.

Nonetheless, nearly half of respondents across all age groups have not discussed long-term care costs with anyone and only 8% said they've discussed long-term planning with their financial professional.

For more findings and related infographics, click here

 

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