Long-term care is an inevitable issue that most people will face in their later years. According to statistics released by the U.S. Department of Health and Human Services, 70% of people over 65 will need some form of long-term care in their remaining lifetime. Women need an average of 3.7 years, while men need an average of 2.2 years. 20% of people need care for more than 5 years. Women have a higher probability of experiencing long-term care events. @https://acl.gov/ltc/basic-needs/how-much-care-will-you-need

With increasing life expectancy and high incidence of chronic diseases such as cognitive impairment, the demand for long-term care continues to grow. However, long-term care costs are very expensive. In the Greater Washington area, the cost of nursing home care in a private room in 2024 is approximately $182,500/year, expected to grow to $245,265/year by 2034, and $329,615/year by 2044. @https://www.carescout.com/cost-of-care

Federal Medicare and commercial health insurance only cover short-term, medical care, not long-term care. Medicaid requires applicants to be almost completely "bankrupt," with assets and income reduced to extremely low levels before they can receive assistance. Without proper planning, especially for middle-class families, high long-term care costs can place heavy financial pressure on families.

Types of Long-Term Care Insurance

Current long-term care insurance products on the market can be roughly divided into 4 types: traditional long-term care insurance; long-term care insurance with death benefits; life insurance with long-term care riders; and annuities with long-term care riders.

Traditional long-term care insurance is the earliest form. You pay annually, and if you become disabled or cognitively impaired in the future, claims are paid; but if not used, decades of premiums are wasted. Moreover, premiums increase year by year and cannot be interrupted. Due to high uncertainty, this type of insurance has gradually faded from the market.

Long-term care insurance with death benefits is now the mainstream form of long-term care protection, also known as asset-based long-term care products. These products require one-time or multi-year premium payments. If no long-term care needs arise in the future, the principal is returned in the form of death benefits with some appreciation; if care needs arise, a fixed monthly benefit amount can be received. These products have high long-term care benefit leverage, fixed premiums, and "100% locked" benefit amounts with strong certainty, making them very popular. However, these products have very strict health underwriting requirements and are suitable for purchase when still healthy. Once health conditions deteriorate, not only do premiums increase, but insurance companies may also reject coverage.

Life insurance with long-term care riders uses life insurance as the main product with long-term care as added value, offering flexible forms to meet multi-functional needs and is also very popular. Compared to the long-term care insurance with death benefits type, this insurance has slightly lower health underwriting requirements and slightly lower benefit leverage.

Annuities with long-term care riders use lifetime income annuities as the main product. When long-term care needs are triggered, as long as the annuity's cash value account is not zero, double income can be received. Annuities do not require health underwriting, so consumers with poor health conditions can consider using annuities to meet long-term care needs.

Important Considerations When Purchasing Long-Term Care Insurance

When choosing long-term care insurance, pay attention to the following matters:

• Benefit Method: Indemnity vs Reimbursement. If you purchase indemnity insurance, you receive a fixed monthly amount directly without needing to submit receipts, with high flexibility and unlimited use; while reimbursement insurance requires you to pay first and then reimburse with invoices and receipts, with cumbersome processes and many restrictions.
• Care Facility Requirements: Whether professional facility care is required or if home care is allowed.
• Caregiver Requirements: Whether licensed caregivers are required or if unlicensed family members can provide care.
• Overseas Claims Support: If considering returning to your home country for retirement, you need to understand whether the long-term care insurance you purchase supports overseas claims. Usually, overseas claims have certain limitations, such as shortened claim periods or reduced benefit amounts.
• Death Benefits: Whether death benefits or return of premium features are available.

Two Long-Term Care Products

Here we introduce two long-term care insurance products with death benefits, both underwritten by A+ rated insurance companies with high credibility and guarantee stability.

Long-term care benefit triggers occur when any two of six activities of daily living cannot be completed independently (eating, dressing, bathing, toileting, mobility, continence), or when cognitive impairment occurs. Most policies have a 90-day waiting period, meaning the above conditions must be met continuously for at least 90 days before the insurance company begins paying benefits.

1. Long-Term Care Insurance Allowing Joint Coverage for Couples

Statistics show that if a single person has a 70% probability of triggering long-term care in their lifetime, the probability that at least one of two people will trigger it is as high as 91%. Therefore, joint coverage long-term care insurance for couples has a higher probability of claims.

This product allows home care, but caregivers must have professional licenses. The benefit method is indemnity. Premiums are fixed. Benefit amounts are fixed. Overseas claims are supported, but overseas claim time is limited to two years, with remaining benefits to be continued after returning to the United States.

2. Long-Term Care Insurance Allowing Family Home Care

The highlight of this product is that it allows family home care, and caregivers do not need to have professional licenses. The benefit method is indemnity. Premiums are fixed. Benefit amounts are fixed. Overseas claims are supported, but overseas claim monthly payments are halved; the benefit period can be extended until the original total benefit amount is fully received. This product does not support joint coverage for couples, but has the highest benefit flexibility among similar products and the lowest premiums.

Conclusion

Life's journey will eventually lead to twilight, and aging and illness may be unavoidable. Long-term care insurance is not only an economic guarantee but also brings peace of mind - allowing us to live peacefully and say goodbye gracefully in the final chapter of life.

长期护理是大多数人在人生后期不可避免会面对的问题。根据美国卫生部发布的统计数据，65岁以上人群中有70%在其余生中将需要某种形式的长期护理。女性平均需要3.7年，男性平均2.2年。有20%的人需要5年以上的护理。女性发生长期护理事件的概率更高。@https://acl.gov/ltc/basic-needs/how-much-care-will-you-need

随着寿命延长和认知障碍等慢性病高发，长期护理的需求不断增加。然而，长期护理的费用十分昂贵。在大华府地区，2024年Nursing home care private room的费用约为$182,500/年，预计到2034年增长至$245,265/年，到2044年增长至$329,615/年。@https://www.carescout.com/cost-of-care

联邦医保（Medicare）和商业医保均只覆盖短期的、医疗性质的护理，不覆盖长期护理。而Medicaid则要求申请人几乎完全"破产"，资产和收入都降至极低水平后才可能获得资助。如果没有提前做好规划，尤其是对中产阶层而言，高额的长期护理费用可能会对家庭经济造成沉重压力。

长期护理保险的种类

当前市场上的长期护理保险大致可以分为4种类型：第一种是传统的长期护理保险；第二种是长期护理保险附加身故理赔；第三种是人寿保险附加长期护理条款；第四种是年金附加长期护理条款。

传统长期护理保险是最早期的形式。每年缴费，如果未来失能或失智，就发生理赔；但如果没用上，几十年的保费就白交了。而且保费逐年上涨，不能中断缴费。这类保险由于不确定性高，已逐渐淡出市场。

长期护理保险附加身故理赔的类型是现在主流的长期护理保障形式，也称为资产型长期护理产品。这类产品一次性或分几年交费，若未来不发生长期护理需求，则以身故理赔的形式退还本金，并附加一定的增值；若发生护理需求，每月可领取固定额度的理赔金。这类产品的长期护理赔付杠杆高，保费固定，且保障金额"百分之百锁定"，确定性强，很受欢迎。但这类产品的健康核保要求很严格，适宜在身体尚健康时购买。一旦身体状况变差，不仅保费变高，且保险公司可能会拒保。

人寿保险附加长期护理条款（Life Insurance with LTC Rider）的类型以人寿保险为主，长期护理为附加价值，形式灵活，满足多功能需求，也很受欢迎。和前面长期护理保险附加身故理赔的类型相比，这类保险对健康核保的要求略低，理赔杠杆也略低。

年金附加长期护理条款（Annuity with LTC Rider）的类型以终身收入年金为主，触发长期护理需求时，只要年金的现金值账户不为零，则可双倍领取收入。年金不需要健康核保，因此对于身体状况不佳的消费者，可以考虑通过年金来满足长期护理需求。

购买长期护理保险需要注意的事项

在选择长期护理保险时，要留心以下事项。

• 赔偿方式：拨款式（Indemnity）vs 报销式（Reimbursement）。如果你购买的是拨款式保险，每月可直接收到一笔固定金额，无需提交收据，灵活度高，用途不限；而报销式保险则要求你先自行支付，再凭发票收据报销，流程繁琐、限制较多。
• 对护理机构的要求：是否要求在专业机构护理，还是可以居家护理。
• 对护理人员的要求：是否要求有护理执照的人员护理，还是可以由没有执照的家人护理。
• 是否支持海外理赔：如果考虑回国养老，需要了解所购买的长期护理保险是否支持海外理赔。通常海外理赔有一定的限制条件，例如缩短理赔时间或减少理赔额。
• 是否有身故赔偿：是否有身故赔偿（Death Benefit）或退保退款（Return of Premium）功能。

介绍两个长期护理产品

这里为大家介绍两款附加身故理赔的长期护理保险产品，均由 A+ 级别的保险公司承保，具备较高的信誉与保障稳定性。

长期护理赔付的触发条件是六项日常生活活动不能独立完成其中任意两项（进食、穿衣、洗澡、如厕、行动、控制大小便），或出现认知障碍时。多数保单设有90天等待期，即需连续满足上述条件至少90天后，保险公司才开始赔付。

1. 允许夫妻共保的长期护理保险

统计显示，如果单个人在一生中触发长期护理的概率为 70%，那么两人中至少有一人触发的概率高达 91%。因此，夫妻共保型的长期护理保险，发生赔付的可能性更高。

这个产品允许居家护理，但护理人员必须具备专业执照。赔付方式为拨款式（Indemnity）。保费固定。理赔额固定。支持海外理赔，但海外理赔时间上限为两年，剩余赔付需回到美国后继续领取。

2. 允许家人在家护理的长期护理保险

这个产品的亮点是可以由家人居家护理，护理人员不必须持专业执照。赔付方式为拨款式（Indemnity）。保费固定。理赔额固定。支持海外理赔，但海外理赔的每月付款金额减半；赔付期限可延长，直至原定赔付总额领取完毕。这个产品不支持夫妻共保，但在同类产品中赔付灵活度最高，且保费最低。

结语

人生旅途终将走向黄昏，衰老与病痛或许无法避免。长期护理保险，不仅是一份经济上的保障，更为我们带来心灵的安定 —— 让我们在生命的晚章，安然地生活，从容地告别。

At different stages of life, our risk tolerance varies. The widely accepted lifecycle investment rule in the investment industry and academia is:

This means that at age 30, you can allocate 70% of your funds to high-risk assets like stocks, while at age 60, this ratio should be reduced to 40%. Young people can withstand greater volatility, while older individuals need to prioritize stability and capital preservation.

As human life expectancy increases and retirement is delayed, the "100 rule" gradually appears conservative. In recent years, new versions have emerged: the 110 rule and 120 rule. According to the 120 rule, 30-year-old young people can allocate up to 90% of their funds to risky investments like stocks to maximize long-term compound growth potential.

Kiplinger magazine proposed the "120 minus you" personalized rule, emphasizing that not only age should be considered, but also personal risk tolerance, personality traits, and investment goals should be combined to determine the ratio. A reasonable allocation should allow you to reap rewards when the market rises while not losing sleep during downturns.

After calculating the risk asset ratio using the 100/110/120 rules, the remaining portion is non-risk investments. Among these assets, cash, CDs, money market funds, bonds, and annuities are common choices. The role of annuities is not to pursue high returns, but to provide certainty: delivering continuous cash flow as agreed in the contract in the future, helping us resist longevity risk and market volatility during retirement.

在不同的人生阶段，我们对风险的承受能力是不一样的。投资行业和学界普遍认可的生命周期投资经验法则是：

也就是说，30 岁时可以把 70% 的资金配置到股票等高风险资产，而到了 60 岁，这一比例就应当降低到 40%。年轻时可以承受更大的波动，年纪越长，就越需要以稳定和保值为先。

随着人类寿命延长、退休时间推迟，"100 法则"逐渐显得保守。近年来，出现了新的版本： 110 法则 和 120 法则。按照 120 法则，30 岁的年轻人可以将高达 90% 的资金配置在股票等风险投资中，以最大化长期复利的增长潜力。

《Kiplinger》杂志提出了"120 减你"的个性化法则，强调不仅要考虑年龄，还要结合个人的风险承受力、性格特征和投资目标来确定比例。合理的配置，应该既能让你在市场上涨时收获果实，又不会在下跌时焦虑难眠。

用100/110/120法则计算出风险资产的比例，剩余的部分就是非风险投资。在这一类资产中，现金、CD、货币基金、债券、年金等都是常见选择。年金的作用不是搏取高收益，而是提供一种确定性：在未来按合同约定持续给付现金流，帮助我们在退休阶段抵御长寿风险和市场波动。

In retirement planning, there is a classic guiding principle that has been repeatedly cited by countless financial advisors—the "4% Rule." The core of this rule is very simple: if you withdraw no more than 4% of your total retirement investment account each year, and the assets are invested long-term in a reasonably allocated portfolio of stocks and bonds, then your retirement funds will likely support you comfortably for 30 years or even longer without depleting the principal.

This concept was first proposed by American financial advisor William Bengen in 1994 and was later validated by the famous "Trinity Study," earning it the reputation as the "golden starting point" for retirement financial freedom.

Of course, 4% is not a universal number. Its validity is based on several premises: your investment portfolio needs to maintain a certain proportion of stocks and bonds, market returns are relatively stable during the investment period, and your retirement period is approximately 30 years. Under these conditions, extensive historical data shows that 4% is a "withdrawal ceiling" that is neither overly risky nor maintains quality of life.

However, reality is often more complex than theory. In recent years, inflation recovery, frequent interest rate changes, increased market volatility, and extended life expectancy have made many financial experts more cautious about the traditional 4% rule. Some studies even suggest reducing the withdrawal rate to 3.5% or using dynamic adjustment strategies to reduce the risk of "encountering a bear market in early retirement."

Nevertheless, the 4% rule remains a very useful reference line. If you don't know how much assets to prepare for retirement, you can use it to "reverse calculate" your retirement goal: simply divide your desired annual expenses by 0.04. For example, if you want to withdraw $120,000 in living expenses annually after retirement, your target is to accumulate approximately $3 million in retirement funds.

However, it should be emphasized that while the 4% rule provides a reference line for sustainable spending, it does not consider uncertain but extremely costly risks, such as Long-Term Care (LTC) expenses. According to data from the U.S. Department of Health and Human Services, about 70% of people over 65 will need some form of long-term care at some stage of their lives, whether it's home care, assisted living facilities, or professional nursing institutions.

Long-term care expenses are often not included in regular retirement budgets but can rapidly consume hundreds of thousands or even millions of assets over several years. Medicare typically does not cover long-term care, and many people only realize they haven't prepared in advance when they encounter serious illness, disability, or cognitive impairment (such as Alzheimer's disease).

For such risks, in addition to savings, you can consider purchasing Long-Term Care Insurance (LTC Insurance) or planning through financial instruments such as hybrid annuities and life insurance with care coverage. Therefore, even if you have sufficient basic retirement funds according to the 4% rule, if you want to more safely deal with future uncertainties, especially medical and care risks, it is still recommended to include specialized assessment and solutions for long-term care costs in your retirement plan.

在退休规划中，有一条被无数财务顾问反复引用的经典指导原则——"4%法则"。这条法则的核心非常简单：如果你每年从退休投资账户中提取的金额不超过账户总额的4%，并且资产以合理配置的股票和债券组合进行长期投资，那么你的退休金很有可能支撑你安心生活30年甚至更久，而不会把本金花光。

这一概念最早由美国财务顾问William Bengen在1994年提出，后被著名的"Trinity研究"进一步验证，因此被称为退休财务自由的"黄金起点"。

当然，4%并不是一个万能数字。它的成立基于几个前提：你的投资组合需要保持一定比例的股票和债券，投资期间市场回报相对稳定，并且你的退休期大约为30年左右。在这种设定下，大量历史数据表明4%是一个既不过度冒险，又能维持生活质量的"支取上限"。

但现实往往比理论复杂得多。过去几年里，通胀回升、利率变化频繁、市场波动加剧，加上人均寿命的延长，都让许多理财专家对传统的4%法则持更审慎的态度。有研究甚至建议将提取率下调至3.5%，或者使用动态调整策略，以降低"退休初期遭遇熊市"的风险。

尽管如此，4%法则依然是一条非常有用的参考线。如果你不知道退休时该准备多少资产，不妨用它来"反推"退休目标：只需将你希望的年支出除以0.04。比如你希望退休后每年能提取12万美元生活费，那么你的目标就是累积约300万美元的退休金。

不过需要强调的是，4%法则虽然提供了一个可持续支出的参考线，却并没有考虑那些不确定但代价极高的风险，比如长期护理（Long-Term Care）费用。根据美国卫生与人类服务部的数据，65岁以上的人群中，约70%在生命的某个阶段会需要某种形式的长期照护，无论是家庭照护、辅助生活设施，还是专业护理机构。

长期护理支出常常不在常规退休预算之内，却可能在数年间迅速消耗掉几十万甚至上百万的资产。而医保（Medicare）通常并不涵盖长期护理，许多人在遭遇重病、失能或认知障碍（如阿尔茨海默病）时，才意识到没有提前做好准备。

对于这类风险，除了储蓄，还可以考虑购买长期护理保险（LTC Insurance），或通过混合型年金、带护理保障的寿险等金融工具来规划。因此，即便按照4%法则储备了足够的基本退休资金，如果希望更加稳妥地应对未来的不确定性，特别是医疗和照护风险，仍然建议在退休计划中加入对长期护理成本的专项评估和解决方案。

This article will help you understand the 9 most important age milestones in the U.S. retirement process.

Age 50: Start Catch-up Contributions

Starting at age 50, the IRS allows you to make catch-up contributions to certain tax-advantaged retirement accounts, providing an opportunity for those behind on savings to "accelerate and catch up."

For 2025:

• For employer-sponsored accounts like 401(k), 403(b), 457, you can make an additional $7,500 catch-up contribution, bringing the total contribution limit to $30,000
• For Traditional IRA or Roth IRA, you can make an additional $1,000 catch-up contribution, with an annual total contribution limit of $8,000

Catch-up contributions are an important tool for people aged 50 and above to enhance their retirement preparation, and it's recommended to take full advantage of this opportunity.

Age 55: HSA Catch-up Contributions Begin

Starting at age 55, you can also make an additional $1,000 catch-up contribution to your HSA (Health Savings Account). HSA offers triple tax advantages (tax-free contributions, tax-free growth, tax-free withdrawals for qualified medical expenses), making it one of the most tax-advantaged medical expense accounts in the U.S., especially suitable for covering medical expenses in retirement.

Age 59½: Avoid 10% Early Withdrawal Penalty

Withdrawals from most retirement accounts (such as 401(k), IRA, annuities, etc.) before age 59½ are typically subject to a 10% early withdrawal penalty. Unless you meet certain special circumstances (such as permanent disability, first-time home purchase, etc.), it's recommended to use regular investment accounts, savings, or home equity loans for emergencies first.

Age 60: Start Receiving Survivor Benefits

If your spouse passes away, you can start receiving Social Security survivor benefits from age 60. If you are disabled, this age can be as early as 50.

Age 62: Earliest Age to Claim Social Security

Age 62 is the earliest you can claim Social Security benefits, but be aware that if you start claiming at this age, your benefits will be permanently reduced by approximately 30% annually. Therefore, whether to claim Social Security early requires comprehensive consideration of your health status, life expectancy, financial needs, etc.

Age 65: Medicare Application Age

Age 65 is an important time point for applying for Medicare. You must complete your application within:

• Three months before your 65th birthday
• Plus the month of your birthday
• Plus three months after (a total 7-month window)

Missing this window will result in lifetime penalties and may delay access to Medicare services.

Age 66 or 67: Full Retirement Age for Social Security

The age at which you can receive full Social Security benefits (Full Retirement Benefit) is called the Full Retirement Age (FRA), which depends on your birth year:

• Born in 1954 or earlier: FRA is 66
• Born in 1960 or later: FRA is 67

Whether you claim early (like at 62) or delay (like at 70), your monthly Social Security benefit amount will be adjusted based on this full retirement age.

Age 70: Recommended Latest Age to Claim Social Security

If you are in good health and don't need to rely on Social Security for living expenses, you can choose to delay claiming until age 70. Starting from the Full Retirement Age (FRA), each year you delay increases your Social Security benefits by approximately 8% (called Delayed Retirement Credits). However, benefits will no longer increase after age 70, so this is the recommended latest age for delayed claiming.

Age 73 or 75: Required Minimum Distributions (RMD)

According to IRS regulations, starting from a certain age, you must begin taking Required Minimum Distributions (RMD) from tax-deferred retirement accounts such as Traditional IRA, 401(k), annuities, etc. Otherwise, you will face penalties.

The specific starting ages are:

• Born before 1960: RMD starts at age 73
• Born in 1960 or later: RMD starts at age 75

If you fail to complete the required minimum distributions on time, you may face penalties of up to 25% of the required distribution amount. Therefore, it's essential to plan your withdrawal schedule in advance to avoid unnecessary tax losses.

这篇文章带大家一起梳理一下在美国退休过程中最重要的9个年龄节点。

50岁：开始补缴退休金的年龄

从 50岁 起，IRS 允许你为某些具有税收优惠的退休账户进行补缴（Catch-up Contributions），这项政策为储蓄进度落后的人提供了"加速追赶"的机会。

以 2025年 为例：

• 对于 401(k)、403(b)、457 等雇主赞助型账户，可额外补缴 $7,500，使总缴纳上限提升至 $30,000
• 对于 传统 IRA 或 Roth IRA，可额外补缴 $1,000，年度总缴纳上限为 $8,000

补缴机制是50岁及以上群体提升退休准备的重要工具，建议充分利用。

55岁：HSA健康储蓄账户补缴开始

从 55岁 起，你还可以为 HSA（健康储蓄账户）进行额外 $1,000 的补缴。HSA 具备三重税务优惠（投入免税、账户增值免税、符合条件的医疗支出提取免税），是美国最具税务优势的医疗支出账户之一，尤其适合用于应对退休后的医疗费用。

59岁半：避免10%提前取款罚款的门槛

在59岁半之前从大多数退休账户（如401(k)、IRA、年金等）中取款，通常会被征收 10% 的提前取款罚金。除非你符合某些特殊情况（如永久性残疾、首次购房等），否则建议先使用普通投资账户、储蓄或房屋净值贷款来应急。

60岁：开始领取配偶去世后的社安福利

如果你的配偶去世，从60岁起你就可以开始领取社会安全遗属福利（Survivor Benefits）。如果你本人是残障人士，这个年龄可以提前到50岁。

62岁：最早可以领取社安福利的年龄

62岁是你最早可以领取社会安全金的时间点，但要注意，如果你从这个年龄开始领取，每年将被永久削减约30%的福利金额。因此是否提前领取社安福利，需要根据你的健康状况、寿命预期、财务需求等综合判断。

65岁：Medicare医疗保险的申请年龄

65岁是申请联邦医疗保险（Medicare）的重要时间点。你必须在：

• 65岁生日的前三个月起
• 加上生日当月
• 以及之后三个月内（总共7个月窗口）

完成申请。错过将被终身罚款，并可能延迟享有医保服务。

66或67岁：领取"全额"社安金的年龄

你可以领取全额社会安全金（Full Retirement Benefit）的年龄，称为全额退休年龄（Full Retirement Age，FRA），具体取决于你的出生年份：

• 出生于1954年及以前：FRA为 66岁
• 出生于1960年及以后：FRA为 67岁

无论是提前领取（如62岁）还是延迟领取（如70岁），你每月能领取的社安金金额，都会根据这个全额退休年龄进行调整。

70岁：建议最晚领取社安的年龄

如果你健康状况良好、暂时不需要依赖社安金生活，可以选择将领取时间延后至70岁。从全额退休年龄（Full Retirement Age, FRA）开始，每推迟一年，社安福利金额会增加约8%（称为延迟退休抵免，Delayed Retirement Credits）。但70岁之后即使继续推迟，福利也不会再增加，因此这是延迟领取的最晚建议年龄。

73岁或75岁：开始强制取款（RMD）

根据美国国税局（IRS）的规定，从一定年龄开始，您必须按要求从传统IRA、401(k)、年金等递延税款的退休账户中开始强制最低提领（RMD，Required Minimum Distributions）。否则将面临罚款。

具体起始年龄如下：

• 出生于1960年之前：RMD起始年龄为 73岁
• 出生于1960年及之后：RMD起始年龄为 75岁

如果未在规定时间内完成最低提领，可能被处以高达账户应提金额25%的罚金。因此，务必提前规划取款时间表，避免不必要的税务损失。