4. Cash in on home equity

Your house is probably your most valuable asset. You can consider selling it and using the money to pay for long-term care. This obviously isn’t an option for anyone, but it’s a good idea for homeowners who don’t have a partner, spouse, or child currently living in the house.

Alternatives to long-term care also include downsizing, which can release some equity that will help you fund care. Not to mention that a smaller house requires less maintenance and comes with lower utility bills.

The downside is that selling your home can be a cumbersome process that nobody enjoys, especially in an emotionally charged situation.

Keep reading to discover other alternatives to long-term care!