The median annual cost of care in a private nursing home roomrose 3.4 percent over the past year, according to Genworth’s 2011Cost of Care Survey.

The real media annual household income for Americans is $49,777.But the cost of care in a private nursing home in 2011 is $77,745nationally. The cost of an assited living facility has also risen,to $39,135; a 2.4 percent increase over 2010.

Long term care cost inflation is creating new challenges for financial professionals and theirclients, as uncertainty about equities, a soft housing market andrising healthcare costs have stunted the growth of many retirementportfolios. Advisors today are facing a common conflict: How tohelp clients re-adjust expectations for retirement.

“Advisors have spent their careers talking to clients aboutwealth accumulation. In today’s economy, a conversation thatincludes wealth protection is imperative in order to create a trulycomprehensive retirement plan,” said Colleen Goldhammer, seniorvice president of long term care distribution at GenworthFinancial, in a press release. “The risk of an unexpected long termcare event is a common concern for many American families, and canhave a significant impact on family’s financial future. Financialadvisors have a great opportunity to educate and plan with each andevery client to address this very real risk.”

To further help on-the-go advisors explain the real costs oflong term care to their clients, Genworth is introducing amobile-friendly version of the interactive Cost of Care map that can be accessed from any smart mobiledevice. The map compares the average costs of various careservices, such as home health care and assisted living, on astate-by-state basis. It also allows financial advisors tocalculate future costs. Considering that 53 percent of consumerswant their financial advisors to help them understand residentialcare options, the map can be a useful tool for many advisors.

“With the fast-growing adoption of smart mobile devices byfinancial advisors, the Cost of Care Survey data and insights cannow be brought into any conversation with a few clicks or taps of adevice,” said Goldhammer.