#5: The Most Expensive Thing Retirees Don't Plan For: Long Term Care

You insure your car, your home, and maybe even your pet, but what about the care you might need when you can no longer take care of yourself? With nearly 70% of people turning 65 expected to need some form of long term care, this is one of the most important and most avoided conversations in retirement planning.In this episode, Jaime Cowper breaks down what long term care actually means, why health insurance and Medicaid likely won't cover it, and how newer hybrid policies have changed the landscape. She walks through real cost ranges, the Medicaid five year lookback rule, tax benefits, and the partnership programs most people have never heard of. If you're approaching retirement and wondering how to protect your savings and your family from one of retirement's biggest unknowns, this episode was made for you.Chapters: (00:00) Introduction(02:46) Objection: My Kids Will Care for Me(03:38) Objection: Insurance or Medicaid Pays(05:04) Objection: It Won't Happen to Me(05:39) Objection: I'll Self-Fund It(08:31) How Policies Can Be Customized(09:34) Partnership Programs and Tax BenefitsTo schedule a time to discuss your financial future visit https://www.unityfinancialadvisors.net/contact-us or call (248) 885-8176 today!Connect with Jaime on Social MediaLinkedIn: https://www.linkedin.com/in/jaimecowperInstagram: https://www.instagram.com/jaime.cowperFacebook: https://www.facebook.com/unityfinancialInvestment advisory and financial planning services offered through Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting, and Education services offered through Unity Financial Advisors. Unity Financial Advisors is a separate and unaffiliated entity from Advisory Alpha. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Jaime Cowper is an investment advisor representative of Advisory Alpha, LLC, a SEC registered investment advisor. All opinions expressed by Jaime Cowper are solely her own opinions and do not reflect the opinions of Advisory Alpha, LLC, and as such, any and all statements of purported or observed general practices of non-affiliated firms and advisors; conditions of the broad financial services industry; or performance or returns with regards to products, securities, markets, or otherwise, whether or not advisor indicates they may be relying on third-party data or sources, are solely the opinions and/or interpretations of the advisor and are not intended to be offered as factual. The validity of these statements has not been verified, and as such, no representations of their validity are made. This recording is for informational purposes only and should not be relied upon for investment decisions. This material is not endorsed or approved by the Social Security Office or any other Government Agency. An Annuity is a long-term financial product designed largely for asset accumulation and retirement needs. All guarantees are backed by the claims-paying ability of the issuing insurance company.