T. ROWE PRICE PUBLISHES COMPREHENSIVE GUIDE FOR LONG-TERM CARE PLANNING IN RETIREMENT

Rhea-AI Summary

T. Rowe Price has released a comprehensive guide titled 'Planning for Life and Long-term Care in The Second Half of Retirement: A Comprehensive Guide' along with a dedicated podcast episode in their CONFIDENT CONVERSATIONS® series. The initiative addresses retirees' concerns about long-term care (LTC) planning, which ranks among top retirement worries alongside inflation and economy.

The guide focuses on three key aspects: personal considerations (housing and support options with associated costs), financial planning (using T. Rowe Price's proprietary analysis for LTC cost estimation), and strategic planning (comparing insurance options versus self-funding approaches). The resource aims to help retirees make informed decisions about their future care needs and financial planning, supported by the firm's RETIREMENT ADVISORY SERVICE™.

Positive

• Launch of new revenue-generating advisory product focused on retirement planning
• Expansion of service offerings through proprietary analysis tools
• Strategic positioning in the growing retirement planning market

Negative

• None.

New guide offers data-driven analysis and actionable guidance for the second half of retirement

BALTIMORE, Jan. 7, 2025 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, announced today a new resource for retirees, "Planning for Life and Long-term Care in The Second Half of Retirement: A Comprehensive Guide." The guide is designed to help retirees and soon-to-be retirees navigate the complexities and opportunities of the later stages of retirement and explores how the financial implications of long-term care (LTC) can be incorporated into their overall retirement plan.

T. Rowe Price has also dedicated a new episode of its podcast series, 'CONFIDENT CONVERSATIONS® on Retirement' to the LTC guide, featuring key insights from the piece as well as expertise from co-author, Lindsey Theodore.

"This comprehensive planning guide reflects T. Rowe Price's commitment to providing retirees with the tools and knowledge to make informed decisions about their future," says Lindsay Theodore, CFP®, Senior Thought Leadership Manager at T. Rowe Price. "We aim to offer clarity and confidence as retirees plan for potential life and long-term care needs."

According to a recent study by the firm, large, out-of-pocket healthcare expenses, such as LTC, ranked among the most common concerns reported by retirees, just behind inflation and the economy. With this in mind, the guide focuses on three important factors to maximize LTC resources:

The Personal: The guide begins by offering detailed information about the various housing and support options available to aging individuals, along with the costs associated with each option.

The Financial: Retirees can then estimate LTC costs using T. Rowe Price's proprietary analysis, which considers their housing and care preferences, health and family medical history, and the actual LTC expenses incurred by other retirees.

The Planning: The guide then provides objective information about available products, including insurance, that can help alleviate potential pressure on income and assets. It suggests strategies to mitigate risk within a self-funding plan and provides a proprietary analysis comparing long-term care insurance to self-funding. The analysis focuses on the assets remaining at the end of life and how having insurance can enhance the likelihood of a plan's success, compared to relying solely on self-funding.

Theodore continued, "The second half of retirement is often filled with unique challenges which require thoughtful preparation and a clear understanding of the risks and planning options available. We are committed to providing actionable information through resources such as the guide and the podcast episode, as well as personalized guidance and one-on-one support through our RETIREMENT ADVISORY SERVICE™. Our goal is to ensure that individuals feel empowered and prepared at every stage of their retirement journey.

ABOUT T. ROWE PRICE
Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Clients rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price serves millions of clients globally and manages U.S. $1.67 trillion in assets under management as of November 30, 2024. About two-thirds of the assets under management are retirement-related. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.

IMPORTANT INFORMATION
The T. Rowe Price Retirement Advisory Service™ is a nondiscretionary financial planning and retirement income planning service and a discretionary managed account program provided by T. Rowe Price Advisory Services, Inc., a registered investment adviser under the Investment Advisers Act of 1940. Brokerage accounts for the Retirement Advisory Service are provided by T. Rowe Price Investment Services, Inc., member FINRA/SIPC, and are carried by Pershing LLC, a BNY Mellon company, member NYSE/FINRA/SIPC, which acts as a clearing broker for T. Rowe Price Investment Services, Inc. T. Rowe Price Advisory Services, Inc. and T. Rowe Price Investment Services, Inc. are affiliated companies.

View original content:https://www.prnewswire.com/news-releases/t-rowe-price-publishes-comprehensive-guide-for-long-term-care-planning-in-retirement-302344503.html

SOURCE T. Rowe Price Group, Inc.

FAQ

What are the three main factors covered in T. Rowe Price's (TROW) new long-term care planning guide?

The guide covers three main factors: The Personal (housing and support options), The Financial (LTC cost estimation using proprietary analysis), and The Planning (insurance and self-funding strategies).

How does T. Rowe Price's (TROW) new guide help estimate long-term care costs?

The guide uses T. Rowe Price's proprietary analysis to estimate LTC costs based on housing preferences, care preferences, health history, family medical history, and actual LTC expenses from other retirees.

What retirement concerns does T. Rowe Price's (TROW) 2025 long-term care guide address?

The guide addresses large, out-of-pocket healthcare expenses and long-term care planning, which rank among top retirement concerns alongside inflation and the economy.

What comparison analysis does T. Rowe Price's (TROW) new retirement guide provide?

The guide provides a proprietary analysis comparing long-term care insurance to self-funding, focusing on remaining assets at end of life and how insurance can enhance plan success versus self-funding alone.