Long-term care planning may be more critical than retiring couples realize. Many people overlook it when planning for their retirement income and healthcare needs, but one of the major risks retiring couples face is the chance of a serious illness or extended nursing home stay.
By failing to plan for these potential costs in retirement, you may be forced to sell real estate or other non-liquid assets at an inopportune time to pay for your medical care, daily living expenses, or both. Without a plan in place, you may also put your legacy goals at risk, reducing or eliminating the potential to pass assets to intended heirs or the charitable organizations you support.
The time to plan ahead is now. Fortunately, there are many long-term care insurance strategies available to help avoid these risks. Determining the right strategy for your needs and circumstances begins with an analysis of your current finances, your expected income in retirement, and your lifestyle goals and objectives. Through scenario planning, we can weigh different options that consider your lifetime income needs and projected expenses, as well as your healthcare preferences in the event of illness or incapacitation.
Reach out if you’d like to talk about how you can best prepare for the future.