Retirement Boulder

The Sky-Rocketing Costs of Long-Term Care

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We know you probably don't want to talk about needing long-term care. It's not easy. It's not fun. But it could be one of the biggest boulders you’ll face in retirement. Our Long-Term Care Compass will help make sure your assets aren't lost to a nursing home, and stay with your loved ones.


Here's the Danger

If you are over the age of 65, there is a 75% chance* you will need long-term care at some point in your life. And chances are you will need it for more than three years.

With a private room in a nursing home averaging over $8,500 per month, it’s easy to see how the costs can pile up and cost you your home and investments — all of your savings. Many retirees don't understand that Medicare won't pay and neither will Medicaid, until you are almost or already broke.

*According to the Department of Health & Human Services’ Association for Community Living,

Financial Advisors Are Part of the Problem

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Many financial advisors are afraid to bring it up, or simply not equipped with the right experience to avoid this boulder.

You might need more than just investment advice or over-priced long-term care insurance to solve this problem. And with nothing else to sell retirees, most financial advisors revert to the avoid, wait and hope strategy. That is quite a gamble with this boulders that can literally cost you your home and nearly 100% of your life savings.

You Need A Long-Term Care Compass

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There are more options for protecting yourself against long-term care costs.

That’s why we created the Long-Term Care Compass to help you find the right tools and guide. This leads many of our clients to one of our affiliated elder law attorneys. As a team, we explore the financial options and the legal options.

One of the most popular tools is an asset protection trust. This tool can provide protection against the Long-Term Care boulder without having to buy over-priced insurance.*

*Golden Reserve does not provide or make any legal recommendations. It is important when evaluating legal options to always consult an attorney.

Avoid the Long-Term Care Boulder

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Learn more about the Long-Term Care Boulder on the Expedition RetirementSM Show. New episodes weekly.

Long-Term Care Articles

The Looming Cost of Long-Term Care

What are the chances you'll need long-term care? What are the average costs? How do you pay for it? This infographic breaks it all down.

This One Thing Your Retirement Plan Is Probably Missing Could Cost You Everything

One of the biggest signs that you might run out of money in retirement is not having a plan to pay for long-term care. In fact, the risk is so big that it topped a recent Yahoo News article on the topic, and with good reason. 

How to Get a
Long-Term Care Compass

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The Long-Term Care Compass is part of the Roadmap for Retirement℠, your comprehensive plan for protecting your retirement.

Your personalized Roadmap for Retirement℠ contains all the tools you need to minimize what could be your greatest risks in retirement, including a Long-Term Care Compass, a Tax Map to lower your overall tax burden, a Market Flashlight to right-size your market risk, and a Fee Filter to identify how much you’re paying in investment and advisor fees.

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