A March 23, 2001 New York Times article titled “Reaching Retirement Goals After Long-Term Neglect” by Carmen Wong Ulrich describes the more and more common situation of parents needing to move in with children.

This article describes a 52 year-old Baby Boomer who has not done adequate financial planning. In addition, her 89 year-old mother now lives with her.

While framing her story with this true, firsthand scenario, Ms. Wong Ulrich reports accurately on the necessity of owning long-term care insurance (LTCi).