LONG-Term Care

Long-Term Care Strategies

Who will take care of you if you are unable to care for yourself?
As the oldest baby boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health. With at-home care services averaging $20 per hour1 and assisted living facility costs averaging $3,600 per month,2 it’s understandably daunting. Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?

Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.

We can help evaluate your situation and determine what kinds of products could fit into a comprehensive long-term care strategy, one that is suited to your needs and circumstances.

1Genworth Financial. March 2015. “Genworth 2015 Cost of Care Survey.” Accessed Aug. 17, 2015.

2Ibid.

Asset Protection

Don’t put all your (NEST)eggs in one basket.
You’ve got plans — a lot of them. Wouldn’t it be more fun to focus on your dreams than constantly worrying about what the market’s doing?

Diversifying your retirement assets among a variety of vehicles — including a mix of both insurance products and investments, depending on what is appropriate for your situation — may offer you the best chance of meeting your retirement income goals. Anyone who invests in the market should understand it involves potential risk of principal. So, to provide some security not found in the stock market, you may want to include some insurance products in your financial strategy. These products, such as annuities, can provide supplemental income throughout retirement and protect your money from declines due to stock market losses.