Ep. 24 – Self Funding Long-term Care Expenses
Most people go into retirement without Long-term Care Insurance. Meaning, they plan to “self-fund” Long-term Care expenses. But really, what ends up happening is that a family member, or family members, will end up providing the care.
In fact, 70% of care provided is done by unpaid caregivers (aka family members).
This goes against what most people’s primary goal is in retirement; “Never to be a burden on their loved ones.”
The problem is the “self-funding” plan wasn’t communicated properly to their loved ones. Or, there was no “self-funding” plan to begin with.
In this episode, we’ll dive into the different assets you could tap into during retirement to “self-fund” long-term care costs, and tips and tricks on how to implement your plan while maintaining your dignity (at home!).
Here are a few links referenced in the show:
Publication 502 (IRS)– Qualified Medical Expenses
I hope you enjoy this episode.
