Listen, it’s no secret that when you retire, you will probably live many more decades. It’s also no secret that there’s a higher likelihood that you’ll probably have a medical issue during your lifetime that will require care. Additionally, I’m confident you understand that the future cost of care is going to be significantly higher than it is today. So, what do you do?
I’d strongly suggest you look into investing in what’s known as a long-term care insurance policy. When you invest in this type of insurance policy you are protecting your family members from the potential physical, emotional and financial toll a health issue can have on them. But the real value of a long-term care policy is the inflation adjusted (normally 5% per year) financial benefit it can provide at some point in the future.
Unfortunately, due to space constraints in my blog I cannot do the topic justice here. I do, however, have a free 29-page report you can download from my website. Go to www.MyRetirementSuccess.com.
Click on the Free Resources button, and then click Special Reports. Locate the report entitled, Long-Term Care Planning 101, and double-click on that to get your free report.
Bill Losey, CFP®, CSA, America's Retirement Strategist®, is the resident retirement planning expert for CNBC's "On the Money". He coaches women and couples nationwide with their retirement planning and investment portfolios. Bill is the author of Retire in a Weekend! The Baby Boomer’s Guide to Making Work Optional and he also publishes Retirement Intelligence, a free weekly award-winning newsletter. He can be reached online at www.MyRetirementSuccess.com.