The Lincoln Financial Life Stages Survey: Long- term care, a survey of 1,002 Americans, was recently released. Most respondents were aware of forecasts predicting a dramatic rise in the number of Americans needing care. Few admitted to being truly prepared. People also understand that costs of care will seriously affect their lifestyles.

• 73 percent said their lifestyles would change if they needed to pay for long-term care services.
• 56 percent said they would be willing to sell their homes to pay for the expenses.
• 21 percent said they would be willing to go into debt.
• 18 percent said they would be willing to declare bankruptcy to qualify for Medicaid.

While two thirds said it was important to plan for long-term care, less than 45 percent had a plan and for those that did, the plan involved simply saving more money.

äóìThe survey shows consumers are not aware of all of the funding options they have to pay for long-term care,äó said Mark Konen, president, Retirement Solutions, Lincoln Financial Group. äóìThey want long-term care if it becomes necessary, but they also want to protect their assets if it does not.äó

Caregivers have a more realistic view of the situation. Sixty percent said their experience opened their eyes to the true cost of care.

How you personally are preparing for aging or the aging of a loved one?