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Having a Plan for Long-Term Care, Episode #50
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While it’s not the most exciting topic to discuss, long-term care is an important one given how common long-term care events are and their ability to impact a retirement plan due to their potential cost. In this episode, we start out by providing some background and overview of long-term care and some of the numbers around frequency and cost. Based on that, we explain why it’s important to have a plan for how to protect against long-term care risks. We then wrap things up by talking about the different options for how to actually protect against this risk (which at a basic level is either buying insurance, self-insuring, or some combination of the two) and discuss some of the pros and cons of each option. Our goal is for you to come away with a good understanding of this planning area and which approach to protecting against long-term care risk is right for you based on the specifics of your unique situation.
Resources & People Mentioned- Download our guide: Retirement Timeline – Key Dates & Opportunities
- Download our guide: Retirement Checklist – A Guide to Planning for Retirement
- Genworth long-term care cost calculator
- https://mdwmllc.com
- Follow on LinkedIn
- Follow on Facebook
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