When A Loved One Needs Care
Sometimes you know the time is approaching, and other times the hospital calls and says discharge is tomorrow and they cannot return home by themselves. Scary business. No matter how much time you have to prepare and choose a provider for home care or facility care, it is going to be expensive. Most people run […]
Are You Wondering About Your Current Long-Term Care Insurance Policy?
What exactly does my Long-Term Care insurance policy cover? Is the benefit still the same or has it grown to keep up with increasing costs? Does it cover home care, or assisted living, or nursing homes, or all three? Did the price increase? Can I lower or shorten my benefits? Which is better? At TheLongTermCareGuy.com […]
I Don’t Need Long-Term Care Insurance
I have retirement income of $5000/month, my house is paid for, no loans due, and I have $600,000 in savings earning 5% interest (you wish). I don’t need any Long-Term Care (LTC) insurance! Let’s assume you are correct. And let’s assume that one of you has a stroke or dementia that requires care in […]
Go Broke without Long-Term Care Insurance
Bob and Tom are twin brothers. They have done well in life and saved for retirement in an IRA. They each have $1,000,000, they are both married, and are now age 80. Oh, and Tom bought long-term care insurance at age 60, a benefit of $60/day for 10 years including 5% compound inflation on that […]
As America Ages, Long-Term Care Costs Could Overwhelm Most Families
The number of Americans age 65 and older is on track to double — from 46 million now to over 98 million in 2060, when today’s 20-somethings will be turning 65. At that time the 65-plus age group’s share of the population will have jumped to 24-percent from 15-percent today. One in four of us […]
Calculate What You Need To Set Aside For Long-Term Care
This graph below will let you calculate how much money you need to set aside today, to grow into enough money to fund your Long-Term Care (LTC) at an age when you may need help. You can move the numbers on the left side around any way you want. You choose how much money per […]
Who Will Pay For Your Funeral?
When Apple co-founder Steve Jobs passed away recently, he left behind a huge legacy – and a huge financial fortune too. Since Jobs was one of the richest men in America, his family undoubtedly had no problem paying for his funeral and putting Jobs to rest. Unfortunately, that’s not the case with many other Americans. […]
Wisconsin Faces Critical Shortage of Care Workers for Disabled & Elderly
MADISON – Jessica Nell relies on a stranger to help her get in and out of bed every day. If no one shows up to help her, the 29-year-old Green Bay resident is left immobile — potentially for hours. Nell, who has cerebral palsy and uses a motorized wheelchair, is one of thousands of Wisconsin residents who need […]
Don’t Ignore This Serious Retirement Threat
Quote: “Many older Americans have their heads in the sand regarding the potential threat posed by long-term care. They think somebody else will pay for it, but that’s usually not the case. Unfortunately, Medicare, Medicaid and medical insurance policies don’t cover most long-term care costs, and most people end up paying for care out of […]
Who Will Accept You For Care When You Need It?
Westchester Plaza, the largest assisted living facility in Texas that will accept Medicaid residents is closing their doors. The problem is that Medicaid pays less than the cost to care for you. If too many of the residents end up on Medicaid, they cannot afford to keep the doors open. Many people here in Wisconsin […]
