One of the biggest financial risks in retirement is the possibility that you might need long term care in a nursing home or round-the-clock care in your home. The median cost of a private room in a nursing home is more than $127,000 a year and more than $70,000 for 40 hours of care per week in your home (more than $280,000 for 24-hour care), according to caregiving consultancy Genworth’s most recent Cost of Care Survey results. The median cost of assisted living is $70,800 — and much higher in some areas.

Those who have served in the military have access to special programs, benefits, and assistance to help with these potential needs and costs.

Some key steps you take in your 40s, 50s, or 60s can help protect your retirement savings if you need care decades in the future. If you need care sooner — or if you’re helping aging relatives who are veterans — they might qualify for programs offered by the VA to help pay long term care costs, and they might also be interested in new and improved state veterans homes that are often open to veterans at all income levels.