Commentary: Annuities can be crucial in long-term-care strategy

People getting close to retirement should develop a strategy for dealing with potential long-term-care costs, writes Steve Vernon, a research scholar at the Stanford Center on Longevity. "This can include buying long-term care insurance, keeping your home equity in reserve if you need to pay for long-term care, buying a qualified longevity annuity contract or setting aside funds you won't touch until you need long-term care," he writes.

CBS News (12/26)