Americans' are seeing big gains in retirement accounts as they enjoy their economic growth in a booming economy. As more people enjoy better prosperity, the concern for how this will play in later life becomes a major focus. Planning for a future successful retirement, especially for those Generation X and Late-Boomers in their 40s and 50s, has become a key goal. The problem is longevity and the financial costs and burdens of long-term care.

"I speak with people from all over the country and they are all saying the same thing. They see economic conditions continue to improve. Their savings are growing, and they are now thinking they can actually have enough money to retire on. The problem is longevity and the impact of long-term care will have on their savings and on their family," said Matt McCann, a nationally known expert on long-term care insurance and planning.

McCann, speaking to insurance and financial professionals, said most people from age 40 to 70 understand the risk of long-term care. They either had a family member or neighbor who needed care and saw the impact it has on families.

He said people work hard to save whatever money they can. The goal is to have a stress-free retirement someday.

"401(k)s IRAs and other assets are not Republican, they are not Democrat. They are what I call, 'green party' … meaning the color of money. We can all agree the need to safeguard our savings while making sure our families don't become responsible for our future long-term care is something we all share," McCann said.

There are some people who think their family could step in and be caregivers. However, this is not realistic.

"Caregiving becomes very difficult on family members. They have their own families, careers, and responsibilities. Paid care, on the other hand, drains savings and adversely impacts income and lifestyle. Yes, people are happy about their current financial situation, but they know unless they plan for long-term care the impact will have huge consequences on family and finances," McCann said.

McCann explained that today's Long-Term Care Insurance is a perfect solution to safeguard retirement funds while reducing family burden.

"Long-Term Care Insurance is easy and affordable income and asset protection. It is also rate stable which is a concern for many people. A new study shows today's products are both affordable and rate stable," he said.

McCann noted a new study by the American Association for Long-Term Care Insurance which surveyed top industry actuaries. The conclusion of the report shows consumers face little if any chance of a future rate increase under the products being sold today (https://www.ltcnews.com/articles/future-long-term-care-insurance-rate-increase-risk-near-zero).

"This is an outstanding time to plan for the financial costs and burdens of aging. Products are very affordable and provide outstanding asset protection. They also give loved ones the time to be family. Most states have Long-Term Care Partnership plans available which provides additional dollar-for-dollar asset protection," McCann said.

He said the best time to plan is prior to retirement. Consumers can research the cost of long-term care; the availability of partnership plans and tax incentives in their state. You can find your state here: https://www.ltcnews.com/resources/state-information.

McCann helps consumers nationwide with his unique process where they speak with him on the phone while seeing his computer screen on their computer. He works with all the major companies in Long-Term Care.  Consumers can learn more from his website: www.mccannltc.net