Jan 25, 2024 | Long Term Care Costs, Long Term Care Insurance
Since many taxpayers are now preparing their 2023 taxes, I wanted to take a moment to provide information about a tax deduction that some people can take for long term care insurance premiums. Long term care insurance is unusual in that not only are benefits typically...
May 18, 2023 | Long Term Care Costs, Long Term Care Insurance, Retirement Planning
I’m frequently asked “When is the best time to look into long term care protection?” Although there’s no universal ideal time, here are some key points to consider: 1) The ideal time to explore options is when someone is in a position to be...
Oct 13, 2022 | Long Term Care Costs, Long Term Care Insurance, Retirement Planning
Many people think they’ll self-fund for long term care. But here are factors they typically fail to consider: Their spouse. Self-funding long term care expenses for one spouse has the potential to deplete assets for the other spouse. If a husband or wife passes...
Apr 28, 2022 | Long Term Care Insurance, Long Term Care Costs
I was interviewed by Sagewell Financial, an online platform, for their April ’22 newsletter targeting baby boomers. In the article, I speak about the right time to plan for an extended care need, and who might benefit from a formal long term care plan. Long-Term...
May 19, 2021 | Long Term Care Insurance, Long Term Care Costs
Imagine if your grown children someday might be held responsible for your long term care expenses. If you’ve thought about how to fund these expenses in the future, but you never made a plan to adequately address a huge bill toward the end of your life, it’s a...
Jan 14, 2021 | Retirement Planning, Long Term Care Costs, Long Term Care Insurance
The question of whether or not to self-insure for long term care costs is a popular one. The answer is deceptively simple: Someone can self-insure the cost of long-term care if they have enough unearned income – and/or assets they can sell and are willing to sell –...
