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While long term care insurance is a good option for some, this option is available to only a very small subset of baby boomers.  My wife and I have long term care insurance that we pay $6,200 a year for.  We live in Silicon Valley, California and are fortunate enough to have this option for the moment. Most baby boomers won't have this option.  Their median household income is only $33,118 a year. In addition 41% are still carrying a mortgage. Many still have car payments.  For most, aging in place will be a struggle in place.  Can technology assist them in their struggle.

 

Sources: Federal Reserve Survey of Consumer Finances, 2012, and U.S.. Census Bureau Current Population Survey, 2011.