Long-Term Care Planning
70% of people over 65 will need some form of long-term care; the average claim runs ~3 years at $60k–$120k/yr. There are 4 ways to fund it.
Why it's the retirement-killer
Medicare doesn't cover ongoing custodial care. Medicaid does — but only after you've spent down to ~$2k of assets. Without a plan, LTC events routinely vaporize the estate the surviving spouse (and heirs) were counting on.
The 4 funding paths
1) Self-insure (works if you have $2M+ outside the home). 2) Traditional LTC insurance — cheapest premium but rate hikes are common and premiums vanish if never used. 3) Hybrid life/LTC (asset-based) — single-premium or 10-pay; if you never need care, your heirs get a death benefit. 4) Medicaid planning with irrevocable trusts (5-year lookback).
Right age to act
Most people buy in their late 50s to mid 60s. Wait too long and underwriting becomes the obstacle, not premium.
Educational only — not tax, legal, or investment advice. Talk through your specific situation with a qualified advisor.