Question

What financial decision made earlier in life can help someone with the expenses of day-to-day care when they are ill or elderly?(1 point)
Responses

maximizing retirement savings
maximizing retirement savings

paying off student loan debt
paying off student loan debt

purchasing long-term care insurance
purchasing long-term care insurance

buying a home

Answer 1

The financial decision that can help someone with the expenses of day-to-day care when they are ill or elderly is **purchasing long-term care insurance**. This type of insurance provides coverage for the costs associated with long-term care services, helping to manage the financial burden of care when needed.