In this episode of the Smart Wealth & Retirement Podcast, financial advisors and retirement planners Jim Martin & Casey Bibb of Martin Wealth Solutions dive deep into one of the most important — and often misunderstood — parts of retirement planning: long-term care.

They break down what long-term care really means, how it fits into a retirement plan, and the pros and cons of having insurance versus self-funding. Jim and Casey explore the emotional and financial impact of care decisions, discuss the difference between traditional and hybrid policies, and share real-life examples from clients who’ve faced these challenges firsthand.

Whether you’re in your 50s, nearing retirement, or already retired, this episode offers practical insight into protecting your assets and your loved ones while maintaining peace of mind.

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00:00 – Introduction: Why long-term care planning matters

02:12 – What “long-term care” actually covers

04:05 – How rising healthcare costs affect retirees

06:14 – Why planning early can make a big difference

08:02 – The pros of long-term care insurance

10:26 – Common drawbacks and misconceptions

12:45 – Comparing traditional vs. hybrid policies

15:04 – When self-funding may make more sense

17:10 – How long-term care can impact your income plan

19:22 – Real-life client examples and lessons learned

23:02 – Key takeaways and next steps

Disclosure

Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.