Ep. 24 - Self Funding Long-term Care Expenses

<p>Most people go into retirement without Long-term Care Insurance. Meaning, they plan to &quot;self-fund&quot; Long-term Care expenses. But really, what ends up happening is that a family member, or family members, will end up providing the care. </p> <p><br></p> <p>In fact, 70% of care provided is done by unpaid caregivers (aka family members).</p> <p><br></p> <p>This goes against what most people&#39;s primary goal is in retirement; &quot;Never to be a burden on their loved ones.&quot; </p> <p><br></p> <p>The problem is the &quot;self-funding&quot; plan wasn&#39;t communicated properly to their loved ones. Or, there was no &quot;self-funding&quot; plan to begin with.</p> <p><br></p> <p>In this episode, we&#39;ll dive into the different assets you could tap into during retirement to &quot;self-fund&quot; long-term care costs, and tips and tricks on how to implement your plan while maintaining your dignity (at home!).</p> <p><br></p> <p>Here are a few links referenced in the show:</p> <p><br></p> <p><a href="https://www.genworth.com/aging-and-you/finances/cost-of-care.html" target="_blank" rel="noopener noreferer">Genworth Cost of Care </a></p> <p><br></p> <p><a href="https://www.irs.gov/forms-pubs/about-publication-502 " target="_blank" rel="noopener noreferer">Publication 502 (IRS)</a>- Qualified Medical Expenses </p> <p><br></p> <p>I hope you enjoy this episode. </p> <p><br></p>