Long-Term Care...Get It, or Forget It?
Description
This week's blogpost - https://bahnsen.co/47EvNQc
Navigating Long-Term Care: Get It or Forget It?
In this episode of the Thoughts and Money Podcast, hosts Trevor Cummings and Blaine Carver dive into the complexities of long-term care insurance. They discuss the increasing relevance of long-term care conversations among younger clients, especially those in their late forties and fifties. They explore the financial and emotional considerations of securing long-term care insurance, the impact of healthcare costs, and how these decisions affect a comprehensive financial plan. The episode also covers the evolution of long-term care policies, the pitfalls of older policies, and the importance of proactive planning. Whether self-insured or seeking coverage, understanding the nuances of long-term care can help mitigate future financial risks.
00:00 Introduction to the Podcast
00:16 Inspiration Behind the Article
01:12 The Sandwich Generation
02:13 Insurance and Risk Management
03:57 The Reality of Long-Term Care
06:46 Challenges with Long-Term Care Insurance
10:20 Hybrid Insurance Policies
13:45 Statistics and Financial Planning
17:22 Understanding Self-Insurance
18:28 Gender Differences in Long-Term Care
19:16 The Importance of Financial Planning
21:02 Personal Experiences with Long-Term Care
23:38 Risk Management and Insurance
27:13 Asset Allocation and Long-Term Care
32:35 Concluding Thoughts and Recommendations
Links mentioned in this episode:
United States
