Is an Asset Protection Trust the Right Solution to Your Long Term Care Riddle?
Asset protection trusts are one way to cover long term care costs. However, there are big disadvantages. Learn more and discover alternatives.
Category: Long Term Care
How Much Does Long Term Care Insurance Cost? Is it Worth It?
Insurance can be a fantastic way to protect your assets from big unforeseen costs. Long term care insurance can, in theory, be a cost effective way to cover a long term care need. However, it can also be expensive and not best for everyone. So, let us explore: How much does long term care insurance…
Planning for Long Term Care: An Important Part of Being Prepared for Retirement
Dementia. Stroke. Alzheimer’s disease. The prevalence of these health events is a big reason why you need to make planning for long term care an important part of your retirement plans. Will you need to give care? Will you need care? What is Long Term Care? Older Americans continue to be in the dark when it…
Retiring to a Holiday Inn or the High Seas? Unexpected Ways to Afford a Little Help with Activities of Daily Living as You Age
Most of us are going to need some extra support as we age. Cooking, cleaning, running errands and more are called “activities of daily living” and it can be nice to get help with these tasks as you age. Is retiring to a Holiday Inn the answer? Living independently can be extremely difficult as we…
55+ Communities: What Are Continuing Care Retirement Communities?
The decision to relocate in retirement is huge — especially since you literally have a world of options. You can retire anywhere and into a wide variety of housing types. Live and travel in an RV. Buy a big beach side home. Relocate abroad to financial or lifestyle reasons. Downsize to a small apartment. Buy…
Is Long Term Care Insurance Worth It? Explore the Pros and Cons
The Big Takeaways… Long Term Care Insurance is a great option for many people, but with uncertain prices and a qualification process, it’s important to do your research to find the right plan. It can be a challenge to determine exactly how much Long Term Care Insurance to purchase, but can be very worthwhile if…
9 Surprising and Dirty Secrets About Healthcare, Medicaid and Your Retirement
The recent nationwide debate about whether or not Medicaid should continue to receive funding should have had special resonance for people of retirement age. Here are 9 things you might not know about Medicaid and your chances of needing it in the future: 1. You Have a High Percentage Chance of Winding Up on Medicaid…
Long Term Health Care: 4 out of 5 Retirees Horribly Unaware of Actual Costs
They say that what you don’t know won’t kill you. However, if you are misinformed about the costs of long term health care in retirement, you might not be able to afford the kind of care you would like to have when fighting to stay alive. Most retirees have their heads in the clouds when…
Retirement Expert: Carol Marak About Assisted Living Options
Trusting your family to an assisted living facility can be a huge decision! How can you be sure that they’ll get the care they deserve? Take it from someone who has been there. Once upon a time, Carol Marak, Aging Advocate and Editor at SeniorCare.com, worked a full-time job while simultaneously caring for both of…
Are You a Genius or a Fool to Avoid Long Term Care Insurance?
Buying a long-term care insurance policy can be a valuable investment for those who purchase it well in advance of the time they’ll need it, yet few Americans are taking advantage of this genius option. But you are not necessarily a fool if you have not made this purchase. While some 70% of Americans will…
Expert Interview with Stephan Baldwin About assisted living
It’s estimated that there are over 40,000 assisted living communities in the U.S. today, says Stephan Baldwin, director of business development for Assisted Living Center, an online directory and resource for those researching living options for seniors. And while this means that families have more choices than ever for care for their loved ones, the…
How Much Does Care Cost in Your State? 7 Ways to Plan for Long Term Care Costs
You might not like the idea. You might try to deny the idea. You might convince yourself that you will be the lucky one to stay healthy till your last day… However, at least 70 percent of people over age 65 will require some form of long-term care services and support during their lives, new research shows. “Unfortunately,…
Don’t Let Dementia Lead to Financial Ruin in Retirement
The costs of Alzheimer’s disease and other forms of dementia can be staggering. And not just for the person suffering from the disease, but for those around him or her who serve as primary caregivers. Dementia can easily derail a family’s finances, and it can quickly drain retirement savings for those who have not prepared.…
How to Get the Aid and Attendance Pension Benefit — A Valuable Benefit for Veterans and their Spouse’s Who Require Long Term Care: Expert Interview with Debbie Burak
After struggling to help her mother, the wife of a World War II veteran, receive benefits from the Veterans Administration, Debbie Burak founded VeteranAid.org to ensure that other families of veterans wouldn’t have to go through the same ordeal. The site is devoted to informing veterans and their families about the little-known “Aid and Attendance…
How to Pay for Long Term Care when Long Term Care Insurance Cost is Too High
Retirement should mean living comfortably on the savings you’ve spent a lifetime to build. But aging and unexpected health issues can derail your retirement aspirations and bleed savings accounts dry if you’re not prepared financially to face what life might throw at you. Will You Need Long Term Care? Even if you’re physically in good…
Paying for the Booming Costs of Alzheimer’s Care
The cost of Alzheimer’s Disease care has risen in overwhelming proportion, but the reality is it’s a cost that many Americans are facing now, and will continue to face in the future. Recent studies show that the cost of caring for Americans with Alzheimer’s and other related dementias has surpassed the cost of treatment for…
Say ‘Ahh’: Most Would Rather Visit the Dentist than Talk About Long Term Care Planning
Managing your finances shouldn’t be like pulling teeth. But it might as well be for the proportion of Americans who say they would rather go to the dentist than talk about their long term care planning and aging needs. Such was the response from one out of every four 1,203 adults surveyed by Fortune 500…
5 Creative Ways to Plan for and Fund Long Term Care
About 70% of of people who turn age 65 will need some type of long term care in their lifetime, according to the U.S. Department of Health and Human Services, but few are prepared to pay for that care. Despite that reality, most clients are “pretty much in denial” about long term care planning, says…
Reverse Mortgages and Long Term Care
Your decision to get a Reverse Mortgage should probably involve an analysis of your long term care plans. Research indicates that at least 70 percent of people over 65 will need long term care services at some point in their lives. Many people secure a Reverse Mortgage in order to fund long term care services…
Ask Bud – Is Long Term Care insurance a good purchase?
This is a contribution from Bud Hebeler who runs Analyzenow.com Q: I’ve been trying to decide whether to get long-term-care insurance. I’m wondering if this is something that the insurer is likely to do much better than I will. What do you think? A: You should be right or otherwise insurance companies couldn’t make money. However,…