Long-term strategy may come up short for couple Focus on 401(k) leaves little for emergencies

He also asked them to consider the purchase of long-term care insurance as a way to protect assets in late retirement.

“Having a disability plan in place as we get older has always been something I've thought about and wanted to look into,” Beckie said. “But we've never been in a position with our current cash flow to be able to afford it. After we get a savings account going for some of these extra expenses, I think it will be more feasible.”