What If You Need Long-Term Care in Retirement?

In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss long-term care, how it works, and your options. If you want to know and understand what long-term care may cost you in the future, you must first understand the actual cost of long-term care.Listen in to learn about assisted living services for long-term care that involve more than a nursing home. You will also learn about long-term care insurance methods/plans, how they work, plus the pros and cons of each.In this episode, find out:The importance of knowing and understanding the cost of long-term care and what it may cost you.Understanding why long-term care itself is more than a nursing home.The assisted living services that you might require for long-term care and their cost.How the self-insuring method works, plus the pros and cons of it.How Medicare benefits long-term care even though it doesn’t provide long-term care insurance.Understanding how Medicaid provides for long-term care, plus its pros and cons.How Traditional long-term care insurance works, plus the pros and cons of the plan.Asset-based long-term care insurance – the beauty of life insurance combined with long-term care insurance.How long-term care and chronic illness riders are added to life insurance, plus their pros and cons.How asset-based long-term care through an annuity works, the benefits, and why it’s a good option.How an asset doubler for your income works and who it’s a good option for.Tweetable Quotes:“The thing about coming to terms and understanding long-term care and what it may cost in your plan is thinking about the actual cost of long-term care.”- Murs Tariq“Medicare does not provide what is called long-term care insurance or custodian care, but it does have some benefits there.”- Radon Stancil“An asset-based long-term care policy through an annuity is a great option.”- Radon StancilResources:If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!To access the course, simply visit POMWealth.net/podcast.