Most people plan to live a long life, but not everyone has a plan for if they do live a long life.

Personal finance experts say that within your retirement budget, money should be allotted for a long-term care plan. That is, a strategy to help you manage your day-to-day living if you become infirmed in your old age.

“Ten thousand baby boomers turn 65 years old every day, and we know that about seven out of 10 Americans will eventually need long-term care services,” says Aaron Ball, a senior vice president with Genworth Long Term Care, part of Genworth Financial, headquartered in Richmond, Virginia.

So what should you include in your long-term care plan? Here are four things to consider.

Your home. If you own a house, think about what you’ll do with it when you get older. Sell it and use the money for retirement? Stay put? And if you plan on remaining in your home, will it be senior-friendly?

“We hear a lot of people saying that they want to retire and move somewhere warm, or that they’re going to live on the beach, but the majority of people are going to age in the home where they had their family,” says Bill McManus, director of strategic markets at Hartford Funds, an asset management firm headquartered in Radnor, Pennsylvania. “And what does that look like, aging in place? Will you need to modify an entryway for a wheelchair, or does that bathroom need to be modified so it’s handicap-accessible? That can be a big cost that not everyone is prepared for.”

Transportation. This, too, needs to be in your long-term care plan. After all, if you can’t drive yourself around your community, someone will have to, whether it’s a family member or a cab driver. “Transportation is often the No. 2 expenditure,” McManus says, following rent and mortgage. “You need to think about how you’re going to access the things you want to access. Will I have the ability to go two miles down the road and get an ice cream cone if I want to do that? Transportation equals freedom.”

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