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How Social Security and Healthcare Impact Your Portfolio

Setting aside a bucket for long-term care expenses is a good way to prepare for healthcare needs that may arise.

Christine Benz: Hi, I'm Christine Benz for Morningstar.com. One of the biggest wild cards in many retiree plans is how to manage long-term care expenses. Unfortunately, there are no perfect answers, and pure long-term care costs aren't covered by Medicare. 

Purchasing long-term care insurance seems like the safest way to go, but premiums have skyrocketed on many policies. Higher net-worth investors might choose to self-fund long-term care expenses, but how should they do that?