Podcasts about long term care planning

As life expectancy increases, so do the financial challenges of retirement. In this insightful episode of the Senior Matters Podcast, host and estate planning attorney Mark E. Wight sits down with fiduciary advisor Scott Summerlin of Starlifter Wealth Management to unpack the new financial realities facing today's retirees. The conversation begins with a striking shift in retirement demographics—retirees in the 1970s lived to about 71. Today, a healthy 65-year-old woman can expect to live to 85 or longer. That's 20+ years of retirement, and without the right planning, inflation and taxes can steadily erode retirement savings. Scott explores how healthcare and long-term care costs are among the biggest threats to retirement. While Medicare covers many health needs, long-term care requires separate planning. Scott urges listeners to plan at least 10 years in advance due to Medicaid and Medicare look-back periods, especially since healthier individuals have more options in their 60s. The conversation also addresses how the financial industry has evolved, with long-term care insurance shifting from expensive, use-it-or-lose-it policies to hybrid options embedded in annuities or life insurance. These changes offer more value and flexibility to today's retirees. Scott then tackles market volatility, explaining how a once-manageable 5% withdrawal rate can spike to 8% in a downturn, leading to rapid portfolio depletion. With examples like a $1M nest egg dropping to $600K, Scott illustrates how volatility can directly affect lifestyle—and why retirees need certainty-focused investments such as bonds and annuities. Listeners will also learn how mainstream financial news often misleads by focusing solely on the stock market. Scott recommends a more balanced strategy that includes fixed-income products and a long-term outlook. Finally, Scott offers guidance on finding the right financial advisor, suggesting listeners lean on trusted professionals like estate attorneys and CPAs, and always verify credentials through FINRA's Broker Check.

Working caregivers, are you feeling overwhelmed trying to balance it all? Many don't know about the resources & benefits available to them through their employers. This week, Kathy Sikorski, an elder law attorney, and Jen Fink, your host, uncover the hidden gems in your employee benefits package that can ease your caregiving burden. Discover the benefits that can give you back precious time and energy. Are you leaving money and support on the table? Tune in to find out! Additional resources mentioned in this episode: Legal Benefits Long Term Care Insurance Financial Advisor FMLA Mental Health Benefit Physical Health Benefits Our Guest: Cathy Sikorski, Esq. a Speaker, Elder Lawyer, Author and Media Guest unravels the complex financial and legal problems in the caregiving crisis.Cathy uses her own caregiver experience and expertise to educate, entertain and elevate the conversation around work, money, aging and caregiving. In October 2021, Corner Office Books released her latest book 12 Conversations: How to Talk to Almost Anyone about Long-Term Care Planning. Click below to connect with Cathy at Facebook. Or go to her website www.cathysikorski.com   +++++++++++++++++++++++++++ Related Episodes: What Every Beneficiary & Trustee Needs To Know Money Talk: How to "Have the Talk" ++++++++++++++++++++++++++++++++++++++++ Sign Up for more Advice & Wisdom - email newsletter. ++++++++++++++++++++++++++++++++++++++++ Please help us keep our show going by supporting our sponsors. Thank you. ++++++++++++++++++++++++++++++++++++++++ Make Your Brain Span Match Your LifeSpan Relevate from NeuroReserve With Relevate nutritional supplement, you get science-backed nutrition to help protect your brain power today and for years to come. You deserve a brain span that lasts as long as your lifespan. ++++++++++++++++++++++++++++++++++++++++ Feeling overwhelmed? HelpTexts can be your pocket therapist. Going through a tough time? HelpTexts offers confidential support delivered straight to your phone via text message. Whether you're dealing with grief, caregiving stress, or just need a mental health boost, their expert-guided texts provide personalized tips and advice. Sign up for a year of support and get: Daily or twice-weekly texts tailored to your situation Actionable strategies to cope and move forward Support for those who care about you (optional) HelpTexts makes getting help easy and convenient. ++++++++++++++++++++++++++++++++++++++++ Join Fading Memories On Social Media! If you've enjoyed this episode, please share this podcast with other caregivers! You'll find us on social media at the following links. Instagram LinkedIn  Facebook Contact Jen at hello@fadingmemoriespodcast.com Or learn more at Our Website

Working caregivers, are you feeling overwhelmed trying to balance it all? Many don't know about the resources & benefits available to them through their employers. This week, Kathy Sikorski, an elder law attorney, and Jen Fink, your host, uncover the hidden gems in your employee benefits package that can ease your caregiving burden. Discover the benefits that can give you back precious time and energy. Are you leaving money and support on the table? Tune in to find out! Additional resources mentioned in this episode: Legal BenefitsLong Term Care InsuranceFinancial AdvisorFMLAMental Health BenefitPhysical Health Benefits Our Guest: Cathy Sikorski, Esq. a Speaker, Elder Lawyer, Author and Media Guest unravels the complex financial and legal problems in the caregiving crisis.Cathy uses her own caregiver experience and expertise to educate, entertain and elevate the conversation around work, money, aging and caregiving. In October 2021, Corner Office Books released her latest book 12 Conversations: How to Talk to Almost Anyone about Long-Term Care Planning. Click below to connect with Cathy at Facebook. Or go to her website www.cathysikorski.com  

In this episode of the Secure Your Retirement Podcast, Radon Stancil and Murs Tariq discuss the Retirement Checklist Challenge, a structured approach to evaluating how prepared you are for retirement. They introduce a Retirement Checklist covering Retirement Income Planning, Tax-Efficient Retirement Strategies, Medicare and Retirement, Long-Term Care Planning, Risk Management, and Estate Planning for Retirees. The goal of the challenge is to help you assess your readiness by scoring yourself on 34 key factors that contribute to a Secure Retirement Plan.Listen in to learn about Financial Planning for Retirement, strategies for Retirement Savings, and ensuring a stress-free transition to retirement. Whether you're already retired or preparing for the next phase, this episode will help you plan for retirement effectively, identifying potential gaps in your strategy. You'll also learn how to access the full Retirement Checklist to take the challenge yourself!In this episode, find out:· Why Retirement Income Planning is crucial to maintaining financial security.· How to evaluate your Social Security Strategies and income sources.· The importance of Tax-Efficient Retirement Strategies to minimize tax burdens.· How to assess your Medicare and Retirement options effectively.· The role of Risk Management and diversification in protecting your retirement.Tweetable Quotes:"A well-prepared retirement starts with understanding your income, healthcare, and tax strategies—take the Retirement Checklist Challenge to see where you stand!" – Radon Stancil"Retirement planning isn't just about saving money—it's about ensuring you have the right strategy for income, taxes, healthcare, and long-term security." – Murs TariqResources: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.

In this episode, Bill interviews Levinson General Agent Grant Zimmerman, President of Alloy Insurance Group. This episode is a must, as Grant shares with all of us what has gotten him to extraordinary levels of success. He is driven like no other, he is relentless and his compassion for other human beings is unparalleled. Listen to Grant as he shares the secrets & Levinson's Tools that lead him to one success story after another. Amazingly, Grant is barely 30 years of age, yet he has already molded a career which will only expand and become more successful with each passing day. Listen to Bill and Grant as they explore the insurance industry, as it could very well, change your life. Grant Z. Bio:   Grant Zimmerman is the owner of Alloy Insurance Group, a diverse Insurance Brokerage based out of Ormond Beach, Florida.  When Zimmerman founded his company, he did it with the intentions of serving the unique needs of clients nationwide, and teaching agents how to expand beyond their single line focus to create additional streams of income.  Alloy Insurance Group assists individuals and businesses with Life Insurance, Annuities, Employee Benefits, Long-Term Care Planning, Disability Income Coverage, Individual U65 Health, and Medicare.   Check us out online: Agent Back Office Site: LevinsonAndAssociates.com Facebook: @levinsonandassociates X: @levinsonassoc Instagram: @levinsonandassociates Threads: @levinsonandassociates LinkedIn: @bilevinson  Podcast: levinson.libsyn.com Youtube Library: @thelevinson1

Send us a textOn the latest episode of The Get Ready Money Podcast, I spoke with Barry Fisher, CEO of Blaze 'n' Bear Insurance Services and host of the Protecting What Matters radio show about changing the way we think about money and protecting what matters.In this episode we discussed:Why long term care planning is an essential part of financial planning. How advisors can start to have conversations on long term care planning. Why long term care insurance is just part of the puzzle - it's a funding mechanism.The future of long term care insurance. How business valuations help with succession planning. Barry J. Fisher is the CEO of Blaze ‘n Bear Insurance Services, Inc. a firm dedicated to helping small and medium sized business owners achieve financial success by concentrating on matters pertaining to business continuation, succession and estate planning.  Blaze ‘n Bear's business valuation service is the centerpiece of its planning practice. In 1999 Barry co-founded the American Association for Long Term Care Insurance (“AALTCI”).  As AALTCi's first president, Barry helped create the Long-Term Care Professional (“LTCP”) designation.  He is also past-president of the California Association of Health Underwriters (2001) and Chairman of CAHU-PAC (2004-2006) where he helped raise over $1,000,000 for political advocacy. Barry has served on the California Department of Insurance (“CDI”) Curriculum Board and on various CDI workgroups pertaining to legislation and insurance agent education. He is also a Past Chairman of the ILTCI Conference and served on the Society of Actuaries Long-Term Think Tank. He has been a frequent contributor to industry publications on a wide range of insurance and legislative topics and is a sought-after speaker at industry events.Barry hosts a weekly 90-minute radio broadcast on KPRL (1230AM) called “Protecting What Matters”, and supports a number local & national charities and organizations dedicated to creating better communities.Connect with Barry Fisher:Website (here).LinkedIn (here).Radio Show:Protecting What Matters Radio Show (here).Mentioned on this episode:Investopedia: www.investopedia.comReal Clear Politics: Realclearpolitics.comPlanning for Long-Term Care survey findings (Lincoln)Support the showThe Get Ready Money Podcast and its guests do not provide investment advice. All content is for educational purposes. Guest opinions do not necessarily reflect the opinions of The Get Ready Money Podcast and Tony Steuer.

Lily Vittayaruksku was studying aerospace engineering when her aunt was diagnosed with terminal colon cancer. Her aunt had lived under the same roof as Vittayaruksku while she was growing up and helped raise her. Learn more about your ad choices. Visit podcastchoices.com/adchoices

WELCOME TO THE MWSA PODCAST FOR WEDNESDAY, NOV 13th Have you discussed your long-term care wishes with your loved ones? It's a ‘not so easy' conversation, that needs to be had – but how do you even ‘open' up a dialogue - on such a difficult subject? We get some tips from Laurel Gillespie – CEO of the ‘Canadian Hospice Palliative Care Association. Next have you seen more mustaches on the streets of Calgary this month? “Movember” is in full swing - an initiative aimed at helping men discuss mental health - and have difficult conversations about issues like testicular cancer. We catch up with our MWSA Producer – Reece Schafer – who shares his personal experience navigating his own testicular cancer diagnosis – and recovery. And finally – this week The Westley Hotel and the “Love for Lewiston Foundation” will host the 3rd Annual “Lemon Light Up” Gala. We hear the emotional story behind the event from Jessica Olstad – who lost her son, Lewiston back in 2017 to Spinal Muscular Atrophy.

Send us a textOn this episode of The Get Ready Money Podcast, I was joined by Cameron Huddleston, author and Director of Education & Content at Carefull; Cathy Sikorski, author and speaker along with Neil Granger, Consultant and Expert to talk about changing the way we think about money and elder financial abuse. Here's what we discussed: Defining elder financial abuse and prevention tips.What is a trust mill?How to spot red flags. The importance of being proactive with your parents and communicating about frauds and scams. Adult children should pay attention to their parent's behavior.What to look for in an advisor. Bios:Cameron Huddleston:Cameron Huddleston is an award-winning personal finance journalist, author of Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances and director of education and content at Carefull. She also is an award-winning journalist with nearly 20 years of experience writing about personal finance. Her work has appeared in Kiplinger's Personal Finance, Chicago Tribune, Forbes.com, MSN, Yahoo! and many more online and print publicationCathy Sikorski:Cathy Sikorski, Esq. a Speaker, Elder Lawyer, Author and Media Guest unravels the complex financial and legal problems in the caregiving crisis. Cathy uses her own caregiver experience and expertise to educate, entertain and elevate the conversation around work, money, aging and caregiving. In October 2021, Corner Office Books released her latest book 12 Conversations: How to Talk to Almost Anyone about Long-Term Care Planning. Neil GrangerNeil Granger has been in the financial services industry for more than 39 years. In addition to being a California Life Agent, he is also licensed as a Life and Disability Analyst-one of less than 40 in the state. Neil has spent most of his Insurance career as an independent agent in the area life, health, disability and Long Term Care insurance sales, working with individuals and small businesses. Since 2009, Neil has focused his practice on Consulting and Expert work in the area of Elder Financial Abuse prevention.  Neil has worked with several District Attorney Offices as a member of their Financial Abuse Specialist Teams, has testified in both Criminal and Civil cases, and works with the Investigative Unit of the California Department of Insurance. Neil has also helped draft, and has testified in favor of, insurance legislation, which has helped strengthen financial protection for California Seniors. He recently stepped down from the California Department of Insurance Curriculum Board after 12 years of membership- 6 years as its Chairman.Connect with Cameron Huddleston: WebsiteLinkedInX/TwitterFacebookInstagramConnect with Cathy Sikorski:WebsiteLinkedInTikTokConnect with Neil Granger:WebsiteLinkedInSupport the show

The Senior Matters Podcast with Mark E. Wight, presented by Idaho Estate Planning, is your go-to resource for navigating senior living, retirement planning, and estate management challenges and opportunities. Hosted by Mark E. Wight, an experienced estate planning attorney with over 40 years of experience, this podcast delivers expert insights and practical advice on topics that matter most to seniors, those caring for seniors, and individuals approaching retirement. In each episode, Mark is joined by industry experts to explore key issues such as aging in place, senior services, health and independence, estate planning, long-term care, financial planning, and insurance. Whether you're planning for retirement or already in your senior years, you'll find valuable, actionable advice to help you live well at any age. Tune in for insightful discussions, personal stories, and expert interviews designed to help you plan for your future and learn more about what matters most.

Catherine Cournoyer, Vice President, Senior Care Advisor from Strategic Caring Solutions is in the ConcordTV podcast studio talking about long-term care planning including managing assets, legal documents, long-term care plans, and navigating Medicare and Medicaid.

Send us a textOn this episode of The Get Ready Money Podcast, I was joined by Cathy Sikorski, Author and Speaker; Joy Loverde, author and speaker; Paul Nagle, Executive Director of Stonewall Community Development Corporation and Peggy Haslach, Certified Financial Planner at Planning for Good to talk about changing the way we think about money and solo aging. Here's what we discussed: Why money is the number one conversation that you need to have. The importance of having trusted people and resources.Why community is vital. What's unique about solo aging for the LGBTQIA+ communityKeep everything up to date.Look for straight answers from advisors. Are you really being addressed? Joy Loverde is the best-selling author of The Complete Eldercare Planner and Who Will Take Care of Me When I'm Old?  A seasoned keynote speaker and brand ambassador for the senior-living industry, Joy's appearances include the Today show, CBS Early Show, ABC News, and NPR. She is quoted in the Wall Street Journal, Washington Post, Time Magazine, and others. Joy works with the senior-housing industry and other professionals as a mature-market consultant.Cathy Sikorski, Esq. a Speaker, Elder Lawyer, Author and Media Guest unravels the complex financial and legal problems in the caregiving crisis. Cathy uses her own caregiver experience and expertise to educate, entertain and elevate the conversation around work, money, aging and caregiving. In October 2021, her latest book 12 Conversations: How to Talk to Almost Anyone about Long-Term Care Planning was released. Paul Nagle is the Executive Director of Stonewall Community Development Corporation, a young organization dedicated to working with commercial and non-profit developers, policy leaders, government agencies and local communities to establish LGBTQ-friendly senior housing in NYC. Paul is also the Program Director at Musicians United to Protect Bristol Bay. Peggy Haslach, CFP, CLU is a Certified Financial Planner at Planning for Good.  Ten years ago, Peggy decided to get the licenses needed to open her own financial planning practice after she saw firsthand how many women and LGBT seniors needed help navigating life events and how few women and LGBT worked in the areas where they needed help. Recently Peggy opened a west coast office of Planning For Good making it a bicoastal, LGBTQIA+ women owned financial planning firm dedicated to working with LGBTQ, women and other historically underrepresented communities. Peggy is a certified MBE through the NGLCC. In addition to advising her clients, Peggy has been working to change the face of financial services. She sits on the Cambridge Investment Research DEI Advisory Council and is the executive advisor to Unity™ the LGBTQ+ affinity program at Females and Finance.Connect with Joy: WebsiteLinkedInConnect with Cathy:WebsiteLinkedInTikTokConnect with Paul:Stonewall Community Development CorporationVirtual Village Resources in New York City: Events, Housing resources, health & mental resources and moreMusicians United to Protect Bristol BayLinkedInConnect with Peggy:Planning for Good

Scott was joined by Brad Shepard for a virtual episode about Long-Term Care. Fall and the Holidays will be here before you know it and November is LTC Awareness Month.For the past 24 years, Brad has enjoyed an area of focus in selling, training and marketing Long-Term Care and Linked Benefit solutions. His current role, Regional Sales Director, with OneAmerica is to help distribution partners, advisors and agents develop and grow their Long-Term Care Planning business through extensive business planning, marketing, training and support. He has also been a speaker, on the topic of Long-Term Care Planning, at hundreds of educational seminars, workshops and webinars across the country.Brad is a Pennsylvania native and a graduate of the University of Pittsburgh. He resides in New Bloomfield, PA with his wife, Denise, son Logan, and daughter Linsay.In this episode you will learn the following:LTC Awareness: November is LTC Awareness Month, not to be confused with Long-Term Care Insurance Awareness Month. The focus is on planning and awareness of long-term care needs, especially relevant during family gatherings in the holiday season.Pension Protection Act (PPA): The PPA, effective since January 1, 2010, allows for the tax-free distribution of gains from non-qualified annuities if used for long-term care expenses. Despite its benefits, it remains relatively unknown among financial professionals.Tax Benefits and Plan Design: The PPA allows for tax-deferred gains within non-qualified annuities to be used tax-free for LTC. This involves a 1035 exchange to a PPA compliant annuity, potentially doubling or tripling the annuity value for LTC benefits, providing significant financial leverage.Client Examples and Practical Applications: The discussion includes real-life examples and practical advice for advisors on how to leverage non-qualified annuities for LTC planning, emphasizing the importance of educating clients about these tax advantages.Connect with Scott on LinkedInConnect with Brad on LinkedInFor more on The Optimized Advisor Podcast click here  To learn more about One America products click hereFollow us on LinkedInFollow us on InstagramFollow us on Facebook **This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at optimizedadvisor@optimizedins.com Optimized Insurance Planning

Can sudden illness or injury devastate your financial stability? Discover essential strategies to protect your hard-earned assets from the exorbitant costs of long-term care in our deep dive into Medicaid crisis planning. We break down the myths surrounding Medicaid asset limits and discuss how legal guidance can ensure your wealth, including real estate and investments, remains safe. Learn how to strategically plan to qualify for Medicaid benefits while securing financial stability for yourself and your spouse during tough times.In our exploration of tax and long-term care planning, we highlight the importance of preemptive measures to safeguard your wealth. Understand the benefits of retroactive tax planning and how you can potentially reclaim some of the taxes you've paid over the years. This episode isn't just about preserving your assets; it's about ensuring a secure future for your loved ones. Tune in for invaluable insights and guidance on estate planning focused on taxation and long-term care, complete with free consultations to help you navigate these complex issues. Join us and arm yourself with the knowledge to face these challenges head-on.

Episode 143: "Long-Term Care Planning: Reducing Stress and Ensuring Peace of Mind"

Welcome to this edition of The Planning for Retirement Podcast.  This is Volume 1 of this new series, The Whiteboard Retirement Plan, where Kevin breaks down a real-life client case for “Bob and Jennifer” in plain English.  The goal is to help answer the question, “Can I fire my boss?”   He discusses the savings rate, income sources, and withdrawal rate, highlighting the need for adjustments and planning opportunities. The episode ends with a discussion on the impact of early Social Security claiming and survivor benefits. Bob and Jennifer are in a good position to retire, but there are some risks they need to address. Long-term care planning is important, as 70% of people over 65 will need some form of long-term care. They should consider whether to self-fund or get long-term care insurance. Tax planning is also crucial, as 80% of their assets are in tax-deferred accounts. They should explore Roth conversions to minimize taxes and leave a financial legacy to their children. Finding purpose in retirement is essential, and they should consider how to spend their free time to maximize their life experiences with their loved ones. Lastly, they need to have an optimized investment strategy to spin off income for the rest of their lives, while at the same time address a potential bear market or recession.   Takeaways Diversification is crucial in investment portfolios to mitigate the risk of selling the wrong thing at the wrong time. Interest rate cuts by the Fed can impact the stock market and the economy, but volatility and corrections are normal in investing. The Whiteboard Retirement Plan is a straight forward analysis on whether or not a client can fire their boss and retire comfortably.   Early Social Security claiming can result in reduced benefits, affecting both the retiree and potential survivor benefits.  However, in some cases you may consider collecting early to offset a high rate of withdrawal on investments.   Adjustments to your plan are necessary to ensure a sustainable retirement income.  Long-term care planning is important for all retirees to consider, as it can have a significant impact on your loved ones, particularly your surviving spouse and children.   Tax planning, including Roth conversions, can help minimize taxes and maximize your financial legacy to the next generation. Finding purpose in retirement is crucial for a fulfilling and meaningful retirement. Links Social Media: ⁠⁠Facebook ⁠⁠ ⁠⁠LinkedIn ⁠⁠ ⁠⁠Instagram⁠⁠ Referenced in Episode: ⁠⁠June Inflation Report: https://www.barrons.com/livecoverage/cpi-inflation-june-report-data-today Purpose and Successful Retirement Transition Questionnaire: https://dashboard.mailerlite.com/forms/81643/127757558462022794/share ⁠⁠Are you interested in working with me 1 on 1?  Fill out our Retirement Readiness Survey

Do you have a Long-Term Care plan in place? If you don't, it might be time to start thinking about it. Today we are joined by Bryan Ballentine, CFP®, CRPC™ and Anthony Colancecco, CFP®, CRPC™, wealth advisors with Ballentine Capital Advisors on why you shouldn't wait until you need Long-Term Care to start planning for it. They talk about common reasons some people do not plan for Long-Term Care such as the cost, unpleasant feelings associated with it, and not wanting to give up control of their life. Bryan and Anthony also talk about the average cost of Long-Term care in our community, and what insurance can help cover. Tune in to learn more about how you could be at risk if you do not have a plan in place, and how Bryan and Anthony can help you better plan for your future. Ballentine Capital Advisors Bryan Ballentine, CFP®, CRPC™ and Anthony Colancecco, CFP®, CRPC™

Send us a Text Message.On this episode of The Get Ready Money Podcast, I was joined by Joy Loverde and Cathy Sikorski who are both authors and speakers to talk about changing the way we think about money and caregiving. Here's what we discussed: Plan, plan and then go ahead and plan moreWhy quality of life is the most important thing. Asking for advice is a great way to start the conversation It's okay to say that you won't be the caregiver Where you live mattersJoy Loverde is the best-selling author of The Complete Eldercare Planner and Who Will Take Care of Me When I'm Old?  A seasoned keynote speaker and brand ambassador for the senior-living industry, Joy's appearances include the Today show, CBS Early Show, ABC News, and NPR. She is quoted in the Wall Street Journal, Washington Post, Time Magazine, and others. Joy works with the senior-housing industry and other professionals as a mature-market consultant.Cathy Sikorski, Esq. a Speaker, Elder Lawyer, Author and Media Guest unravels the complex financial and legal problems in the caregiving crisis. Cathy uses her own caregiver experience and expertise to educate, entertain and elevate the conversation around work, money, aging and caregiving. In October 2021, Corner Office Books released her latest book 12 Conversations: How to Talk to Almost Anyone about Long-Term Care Planning.Connect with Joy Loverde: Website: https://elderindustry.com/LinkedIn: https://www.linkedin.com/in/joyloverde/Facebook: https://www.facebook.com/profile.php?id=100083485643213Instagram: https://www.instagram.com/joyloverde/Connect with Cathy Sikorski:Website: https://cathysikorski.comLinkedIn: https://www.linkedin.com/in/cathysikorski24/TikTok: https://www.tiktok.com/@cathy_sikorskiBooks: Joy Loverde:The Complete Eldercare Planner, Revised and Updated 4th Edition: Where to Start, Which Questions to Ask, and How to Find Help (Amazon)Who Will Take Care of Me When I'm Old?: Plan Now to Safeguard Your Health and Happiness in Old Age (Amazon)Cathy Sikorski: Who Moved My Teeth?: Preparing For Self, Loved Ones And Caregiving (Amazon) 12 Conversations: How To Talk to Almost Anyone About Long-Term Care Planning (Amazon) Showering With Nana: Confessions Of A Serial Caregiver (Amazon)

Who Would Benefit from Medicaid Long Term Care Planning? -- I love comments. I make these videos specifically to help people with no expectations. Please take a second and say ‘Hi' in the comments and let me and know what you thought of the podcast… and p.s. It would mean the world to me if you hit the subscribe button.

In this episode, Wade and Alex discuss the different features of long-term care insurance. They cover topics such as waiting periods, benefit periods, benefit amounts, inflation adjustments, and methods of payment. They also touch on the administrative aspects of managing long-term care insurance and qualifying expenses. In this conversation, Alex and Wade discuss various aspects of long-term care insurance. They cover topics such as the definition of activities of daily living, the differences between policies, the option for couples to pool their benefits, the concept of hybrid policies, underwriting requirements, coverage for living abroad, liquidity and death benefit options, ways to lower premiums, and the importance of sharing your long-term care plan with family members. The conversation concludes with a discussion on implementation and monitoring of the plan, including the importance of staying healthy and reviewing the plan regularly.   Takeaways Long-term care insurance policies have different features that need to be considered, such as waiting periods, benefit periods, and benefit amounts. Waiting periods determine how long you have to wait before the benefits kick in. Benefit periods determine how long the benefits will last. Benefit amounts can be paid per day or per month, and the total benefit pool depends on the policy. Inflation adjustments are important to consider to protect the value of the benefits over time. Methods of payment include reimbursement, indemnity, and cash methods. Managing long-term care insurance can be administratively burdensome, and it may be helpful to have a trusted person or professional assist with the process. Qualifying expenses for long-term care insurance coverage depend on the policy and may include in-home care, assisted living, nursing home care, and more. Understand the definition of activities of daily living and how they are defined in different policies. Consider the option for couples to pool their benefits in a joint policy. Explore hybrid policies that combine long-term care insurance with other benefits. Be aware of the underwriting requirements and shop around for the best health classification. Check if the policy covers living abroad if that is a consideration. Consider the liquidity and death benefit options in hybrid policies. Explore ways to lower premiums, such as choosing a lower level of inflation protection or a shorter benefit period. Share your long-term care plan with relevant family members and make sure they are aware of the policy and any care coordinators. Implement and monitor your plan regularly, reviewing it annually and making adjustments as needed. Stay healthy and take care of your health to reduce the need for long-term care.   Chapters 00:00 Understanding the Different Features of Long-Term Care Insurance 06:10 Navigating Waiting Periods and Benefit Periods 08:13 Determining Benefit Amounts and Inflation Adjustments 15:21 Exploring Methods of Payment for Long-Term Care Insurance 24:28 Qualifying Expenses for Long-Term Care Insurance Coverage 24:56 Understanding Activities of Daily Living and Policy Differences 27:17 Pooling Benefits for Couples in Joint Policies 28:37 Exploring Hybrid Policies 29:00 Navigating Underwriting and Health Classification 30:36 Considering Coverage for Living Abroad 31:38 Understanding Liquidity and Death Benefit Options 33:05 Lowering Premiums through Various Strategies 35:23 Sharing Your Long-Term Care Plan with Family Members 37:57 Implementing and Monitoring Your Plan 39:16 Staying Healthy to Reduce the Need for Long-Term Care   Links The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/  This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/roth/ to download McLean's free eBook, “Is a Roth Conversion Right For You?”

In this conversation, Alex and Wade discuss traditional long-term care insurance policies. They address the declining popularity of these policies and the shift towards hybrid policies. They also cover topics such as premium payments, care coordinators, and the importance of starting early with long-term care planning. Wade emphasizes the need to read the specific details of the policy and the potential for premium hikes. They also mention the option of Medicaid for those with limited assets. Overall, the conversation highlights the considerations and factors involved in choosing a long-term care insurance policy. In this conversation, Wade Pfau and Alex Murguia discuss the different types of long-term care insurance policies, focusing on traditional policies and hybrid policies. They cover the key features and considerations of each type, including coverage options, premium hikes, and the use-it-or-lose-it aspect. They also highlight the advantages of hybrid policies, such as level premiums, relaxed underwriting, and the ability to tap into the death benefit for long-term care expenses. The conversation concludes with a discussion on the perceived disadvantages of traditional policies and how hybrid policies aim to address them.   Takeaways Traditional long-term care insurance policies are becoming less popular, with less than 6% of Americans age 50 and older having these policies. The direction is shifting towards hybrid policies, which combine life insurance with long-term care benefits. Premium payments for traditional long-term care insurance can increase over time, and it's important to budget for potential premium hikes. Care coordinators can be valuable in helping individuals find the right care options. For those with limited assets, Medicaid may be a viable option for long-term care coverage. Starting early with long-term care planning is recommended, as waiting too long can lead to health issues that may disqualify individuals from coverage. Traditional long-term care insurance policies have coverage options for nursing home care, assisted living, at-home care, and other services, but they may not cover in-home care or respite care. Hybrid long-term care insurance policies, which combine life insurance or annuities with long-term care benefits, have become more popular due to their level premiums, relaxed underwriting, and the ability to tap into the death benefit for long-term care expenses. Hybrid policies offer more flexibility and liquidity compared to traditional policies, and they eliminate the risk of accidental lapses or premium hikes. While traditional policies may have lifetime benefits, hybrid policies typically have finite benefit periods, but they may offer continuation of care riders that provide additional long-term care benefits beyond the death benefit. Reviewing the language and features of your existing life insurance policy may reveal that you already have a long-term care benefit through an acceleration of death benefit rider. Hybrid policies can be a better use of assets, as they reduce the need for a large cash reserve and provide the potential for higher returns on invested assets. Hybrid policies have different names in the insurance industry, such as asset-based long-term care insurance or life insurance with a long-term care overlay. Chapters 00:00 Introduction and Overview 03:03 The Decline of Traditional Long-Term Care Insurance 04:23 The Rise of Hybrid Policies 06:20 Understanding Premium Payments 08:00 The Role of Care Coordinators 09:30 Considering Medicaid for Limited Assets 10:22 The Importance of Starting Early 26:45 Understanding Level Premiums 28:37 Hybrid Policies: The Darling of Long-Term Care Insurance 37:05 Different Approaches to Hybrid Policies 41:02 Advantages of Hybrid Policies 44:05 Flexibility and Liquidity of Hybrid Policies 45:08 Eliminating Disadvantages of Traditional Policies Links   The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/  This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode, Wade and Alex discuss Medicaid as a funding source for long-term care. They touch on the importance of Medicaid planning and the different rules and qualifications that vary from state to state. They also highlight the need for specialized elder law attorneys to navigate the complexities of Medicaid. Wade shares his personal experience with his parents' Medicaid coverage and the benefits it provides. The episode concludes with a reminder to consider Medicaid as an option for parents who may not have sufficient savings for long-term care. Listen now to learn more!   Takeaways Medicaid is a state-based funding source for long-term care that is generally considered a last resort option. Medicaid planning involves shifting assets from countable to non-countable categories to qualify for Medicaid benefits. Every state has different rules and qualifications for Medicaid, so it's important to consult with a specialized elder law attorney. Medicaid reimbursements may be less than the actual cost of care, so it's beneficial to enter long-term care facilities before needing Medicaid. Consider Medicaid as an option for parents who may not have sufficient savings for long-term care. Chapters 00:00 Introduction and Personal Updates 10:56 Discussing Films and Personal Interests 13:33 Transition to Discussing Medicaid 19:14 Qualifications and Asset Limits for Medicaid 23:01 Medicaid Planning and Non-Countable Assets 26:55 Personal Experiences with Medicaid Coverage 28:25 Importance of Medicaid Transition and Considerations 29:22 Conclusion and Preview of Future Episodes   Links The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/  This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/roth/ to download McLean's free eBook, “Is a Roth Conversion Right For You?”

In this conversation, Alex, Wade, and Neal discuss the importance of long-term care planning in retirement. They highlight the emotional aspect of planning for long-term care and the challenges of getting people to think about and prepare for it. They also discuss the demographic changes that will impact long-term care, such as the decreasing ratio of family members available to provide care and the potential shortage of caregivers in the future. The conversation touches on the different types of long-term care insurance policies and the need for open and meaningful discussions about healthcare and planning for the future. Neal shares examples of clients who have had personal experiences with long-term care and emphasizes the need for estate planning and power of attorney documents. The conversation then transitions to a discussion about long-term care insurance, with Neal explaining the challenges of traditional policies and the availability of guaranteed policies with reputable insurance companies. These policies address the issues of premium hikes and the 'use it or lose it' nature of traditional policies. The conversation explores different types of hybrid policies, including those built on a whole life or universal life chassis. The benefits of these policies include leverage, tax-free long-term care benefits, protection against sequence of returns, and potential wealth transfer. The decision-making process for choosing a policy involves considering the individual's needs, net worth, and risk tolerance. Listen now to learn more!   Takeaways Long-term care planning is a crucial aspect of retirement planning. Planning for long-term care involves emotional considerations and difficult discussions. Demographic changes, such as a decreasing ratio of family caregivers and potential caregiver shortages, will impact long-term care. There are different types of long-term care insurance policies to consider. Open and meaningful discussions about healthcare and planning for the future are essential. Estate planning and power of attorney documents are essential for ensuring that clients' wishes are carried out and that their loved ones are not burdened with difficult decisions. Traditional long-term care insurance policies have had challenges in the past, but there are now guaranteed policies available from reputable insurance companies. Inflation riders on long-term care insurance policies are recommended to ensure coverage against future costs. Hybrid long-term care insurance policies address the issues of premium hikes and the 'use it or lose it' nature of traditional policies. Different types of hybrid policies include those built on a whole life or universal life chassis. Benefits of hybrid policies include leverage, tax-free long-term care benefits, protection against sequence of returns, and potential wealth transfer. The decision-making process for choosing a policy involves considering the individual's needs, net worth, and risk tolerance. Chapters Introduction and Guest Introduction Setting the Stage for the Discussion Demographic Changes and the Impact on Long-Term Care Exploring Different Types of Long-Term Care Insurance Policies The Need for Open and Meaningful Discussions about Healthcare and Planning Bringing up the Conversation about Long-Term Care The Importance of Estate Planning and Power of Attorney Challenges with Traditional Long-Term Care Insurance Guaranteed Policies: A Better Option for Long-Term Care Insurance Introduction to Hybrid Long-Term Care Insurance Policies Benefits of Hybrid Policies Hybrid Policies with Index Investing Investment Growth and Return of Premium in Hybrid Policies Hybrid Policies vs. Annuity Products Hybrid Policies with Lifetime Benefits Choosing the Right Hybrid Policy Links Register for the webinar with Retirement Researcher and Kenneth French! ‘Five Things I Know About Investing' Wed 4/24 at 2 EST www.risaprofile.com/podcast The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/  This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips  

My guest is a nationally Known Expert on Long-Term Care Planning. As one of the nation's leading specialists in Long-Term Care Insurance products and long-term health care planning, Matt McCann is licensed in all 50 states and the District of Columbia. He represents the major insurance companies that offer long-term care planning products.With over 20 years of experience helping thousands of clients nationwide, he has witnessed firsthand how Long-Term Care Insurance gets used at the time of claim. Matt recognizes the value of affordable LTC Insurance and its positive impact on American families today. https://mccannltc.net/http://www.yourlotandparcel.org

Taylor Schulte and Benjamin Brandt join the show to talk about the Retirement Podcast Network and share valuable perspectives on various retirement-related topics.   Listen now and learn: How to leverage the Retirement Podcast Network to enhance your retirement readiness The major pain points retirees and those planning for retirement face Diverse ideas on how to approach advanced retirement planning strategies   Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.   02:34 Origin of the Retirement Podcast Network 07:09 Retirement Planning Beyond Investing 10:18 Retirement Income Strategies 14:10 Strategic Roth Conversions Are Great, But Not Everything 17:36 Long-Term Care Planning 20:58 Future Content Hubs at Retirement Podcast Network  

In today's episode, we're focusing on a topic that is increasingly vital for our clients: long-term care planning. Joining us on the show is Lily Vittayarukskul, the CEO and founder of Waterlily Planning. We're so excited to partner with Waterlily and introduce you to its innovative approach to long-term care planning. Lily's personal journey, sparked by her aunt's battle with terminal cancer, led her to develop a solution aimed at easing the financial and emotional burdens of aging care. Waterlily harnesses the power of AI and machine learning to offer clients a better understanding of their long-term care needs, including cost projections and potential family involvement. Tune in as Lily discusses the role of predictive analytics in retirement planning and how Waterlily empowers advisors to better serve their clients' needs.   Here's some of what we discuss in this episode: Lily's journey and motivation for entering the long-term care industry What is Waterlily and how does it help advisors with long-term care conversations? The importance of holistic planning and incorporating long-term care considerations into retirement strategies What's in the future for Waterlily?   Resources for this episode: Waterlily Planning https://www.joinwaterlily.com/ Lily on Linkedin https://www.linkedin.com/in/lily-vittayarukskul/   Learn About FIG: https://www.figmarketing.com  800-527-1155

In this episode, Wade and Alex continue their discussion on long-term care, focusing on nursing homes and continuing care retirement communities (CCRCs). They also touch on hospice care and the importance of having a power of attorney in place. They highlight the need to carefully review contracts and consider the financial strength of CCRCs. Listen now to learn more!   Takeaways Nursing homes provide 24-hour care for individuals who need significant help with daily activities and medical issues. Hospice care focuses on providing comfort and pain relief for individuals with terminal conditions. CCRCs offer multiple levels of care within one community, allowing individuals to transition as their needs change. It is important to review CCRC contracts with an elder law attorney and consider the financial stability of the facility. Upcoming topics will include funding options for long-term care and interviews with experts in the field. Chapters   00:00 Introduction and Correction 00:31 Continuing Care Retirement Communities (CCRCs) 10:02 Hospice Care 25:52 Considerations for CCRCs 30:38 Upcoming Topics and Conclusion   Links  The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/      This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/roth/ to download McLean's free eBook, "Is a Roth Conversion Right For You?"

In this episode, Alex and Wade discuss the continuum of long-term care, focusing on the different levels of care and the importance of planning for aging in place. They explain the distinction between skilled care and custodial care, and the role of geriatric care managers and care coordinators in navigating long-term care decisions. The hosts also highlight the concept of aging in place and the modifications that can be made to homes to support this. They touch on the potential use of reverse mortgages and the importance of ensuring the safety and comfort of individuals receiving long-term care. This conversation explores various aspects of aging in place and the different options available for seniors. The importance of creating a safe and accessible living environment is emphasized, including the use of smart home technology and wheelchair accessibility. The benefits of social interaction and the potential risks of social isolation are discussed. The conversation also touches on the role of adult daycare and community centers in providing care and support for seniors. Finally, the episodes concludes with a discussion on assisted living facilities and the considerations involved in choosing the right one. Listen now to learn more!   Takeaways Understanding the continuum of long-term care is crucial for planning and making informed decisions. Skilled care refers to medical intervention, while custodial care involves assistance with daily activities. Geriatric care managers and care coordinators can provide valuable support in navigating long-term care decisions. Aging in place is a growing movement that aims to enable individuals to stay in their homes and receive in-home care. Modifications to the home, such as walk-in showers and single-floor living, can facilitate aging in place. Creating a safe and accessible living environment is crucial for aging in place. Smart home technology can enhance safety and convenience for seniors. Social interaction is important for maintaining cognitive function and overall well-being. Adult daycare and community centers can provide support and stimulation for seniors.   Chapters   00:00 Introduction to Long-Term Care Continuum 06:02 Transitioning to Different Levels of Care 09:21 Skilled Care vs Custodial Care 11:46 Geriatric Care Managers and Care Coordinators 12:44 Home Care and Aging in Place 24:05 The Importance of Aging in Place 24:47 Reducing the Risk of Falls 25:08 The Benefits of Smart Homes 26:05 Wheelchair Accessibility and Levered Handles 27:09 Good Lighting and Low Cabinets 28:08 The Importance of Social Interaction 29:06 Adult Daycare and Community Centers 29:22 Reducing Hazards to Falling 30:14 Assisted Living Facilities   Links  The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/    This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode, Wade and Alex discuss the costs and prevalence of long-term care. They explore the probabilities of needing long-term care and the average lengths of care for men and women. They also differentiate between any long-term care needs and paid long-term care needs. The conversation provides insights into the importance of planning for long-term care and highlights the need for realistic expectations and budgeting. This conversation explores the financial implications of long-term care, including the distinction between unpaid and paid care. It highlights the impact of unpaid care on caregivers' lives and the need for paid care. The discussion also delves into the gender differences in long-term care needs and the higher costs associated with women. The Genworth Cost of Care Study provides insights into the average costs of various long-term care options. The conversation emphasizes the importance of considering inflation and demographic trends when planning for long-term care expenses.   Takeaways The probability of needing long-term care is higher for women than men, primarily due to their longer life expectancy. On average, men need long-term care for about 2.5 years, while women need it for about 3.6 years. About 56% of individuals will likely need to plan for long-term care in their retirement. Planning for long-term care should consider both the probability and length of care needed, as well as the potential costs involved. Unpaid care can have a significant financial and personal impact on caregivers, often disrupting their own retirement plans. Women tend to have longer long-term care needs and higher costs due to their longer life expectancy and caregiving roles. The Genworth Cost of Care Study provides estimates of the average costs of different long-term care options. Long-term care expenses are likely to grow faster than the overall inflation rate, making it important to plan for higher costs. Chapters   00:00 Introduction and Personal Updates 05:12 Probabilities and Length of Long-Term Care Needs 10:32 Probability and Length of Any Long-Term Care Event 18:59 Unpaid Care vs. Paid Care 19:37 The Financial Impact of Unpaid Care 20:23 The Cost of Paid Long-Term Care 21:11 Lower Probability of Needing Paid Care for Longer Durations 22:18 Long-Term Care Needs and Gender 23:08 The Impact of Unpaid Care on Women 24:05 Lifetime Expenditures for Long-Term Care 25:18 Inflation and Long-Term Care Expenses 26:35 Triggers for Long-Term Care Needs 28:18 Gender and Long-Term Care Planning 29:01 Genworth Cost of Care Study 31:05 Inflation Rate for Long-Term Care Expenses 32:02 The Progression of Long-Term Care Needs 33:27 State-by-State Differences in Long-Term Care Costs 38:01 Considering Alternative Care Options 39:46 The Growing Need for Long-Term Care   Links Join the waitlist for the next Retirement Income Challenge by visiting risaprofile.com/podcast  The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/      This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/roth/ to download McLean's free eBook, "Is a Roth Conversion Right For You?"

In this episode, Wade and Alex introduce the long-awaited arc on long-term care planning. They discuss the importance of planning for long-term care and the impact it can have on retirement. They define what a long-term care need is and explain the activities of daily living (ADLs) that determine eligibility for long-term care benefits. They also highlight the distinction between ADLs and incidental activities of daily living. The episode concludes with a preview of the next episode, which will cover the costs and prevalence of long-term care. Listen now to learn more.   Takeaways Long-term care planning is a crucial aspect of retirement planning, as it can have a significant impact on financial security and the well-being of individuals and their families. A long-term care need is defined as requiring assistance with activities of daily living (ADLs) for more than 100 days. The six common ADLs include bathing, continence, dressing, eating, toileting, and transferring. Cognitive impairment, such as dementia, may also trigger the need for long-term care, depending on the policy's definition. It is important to distinguish between ADLs and incidental activities of daily living, as only ADLs typically qualify for long-term care benefits. The next episode will cover the costs and prevalence of long-term care, providing further insights into planning for this important aspect of retirement. Chapters   00:00 Introduction to Long-Term Care Planning 03:01 Personal Experiences and the Importance of Long-Term Care Planning 08:58 Budgeting for Long-Term Care 14:12 Determining the Amount to Set Aside for Long-Term Care 21:36 The Demographics and Increasing Need for Long-Term Care 26:39 Defining a Long-Term Care Need 27:56 Activities of Daily Living (ADLs) and Cognitive Impairment 32:46 Incidental Activities of Daily Living 36:53 Summary and Next Steps   Links  Join the waitlist for the next Retirement Income Challenge by visiting risaprofile.com/podcast  The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/    This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

Welcome to Everyday Business, Yeo & Yeo's podcast. On episode 31, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM. Long-term care planning is important because it can help ensure that you have the financial resources to cover long-term care expenses without depleting your savings or burdening your loved ones. A variety of long-term care insurance options are available, and it is important to understand the different types of policies and how they align with your financial situation and preferences. If you are unsure where to start, it is advisable to seek guidance from a financial professional. On episode 31 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning PartnersSM. Listen in as Pete and Matt discuss long-term care – what it is and why it's important, the different types of long-term care insurance and how to get started with long-term care planning. Thank you for tuning in to Yeo & Yeo's Everyday Business podcast. Yeo & Yeo's podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review. For more business insights, visit our Resource Center and subscribe to our eNewsletters. DISCLAIMER The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances. Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements. Check the background of Pete Bender on FINRA's BrokerCheck.

In todays episode, Kevin sheds light on the often-overlooked topic of long-term care, emphasizing the need for a proactive plan. Discover real-life scenarios where families faced financial challenges due to unforeseen healthcare expenses and learn how strategic planning can safeguard your assets and ensure peace of mind. Then, Kevin explores the potential benefits of trading annuities, especially in today's market with higher interest rates. Uncover how reevaluating and possibly trading an old annuity can lead to increased income during retirement. Kevin shares success stories and valuable insights into optimizing your annuity portfolio. Don't miss this episode for practical tips and expert advice on securing a stable and fulfilling retirement. Call Kevin today for your complimentary Portfolio Review with a Long Term Care Plan! See omnystudio.com/listener for privacy information.

Elizabeth Raxter is a Certified Elder Law Attorney, having been certified by the National Elder Law Foundation, and recognized by the State Bar of Texas.  Ms. Raxter specializes in Elder Law issues, including Estate Planning, Guardianship, Probate, Real Estate, Long Term Care Planning, Special Needs Planning, and Fiduciary Services.  Ms. Raxter is a certified speaker with Maxwell Leadership and frequently speaks regarding Elder Law issues, advocacy for disabled individuals, and leadership. Ms. Raxter received her Bachelor of Science degree from Texas A&M University and her Juris Doctorate degree from the University of Hawaii.  Ms. Raxter is licensed to practice law in Texas, Arkansas and Hawaii.  Professional Memberships and Accolades State Bar of Texas Hawaii State Bar Association Arkansas Bar Association Certified Elder Law Attorney through National Elder Law Foundation (NELF), Certified Speaker through Maxwell Leadership, 2023 Member of Texas Bar College, Professionalism through Education Serves on the Board of Directors for NELF; Chairman of Special Committee Serves as an Executive Board Member for Community Action for Central Texas Member of National Academy of Elder Law Attorneys (NAELA) Member of Christian Legal Society Member of Beta Sigma Phi, community sorority Member of Central Texas Advocates for Seniors Lions Club Member Voted Senior Resource Guide's Best Elder Law Attorney in 2015 and 2018 Voted Best Attorney in Caldwell County in 2018 - 2023 Voted Elite Elder Law Attorney by peers in 2023 Book Recommendations: The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael Gerber The 21 Irrefutable Laws of Leadership by John Maxwell How to Win Friends & Influence People by Dale Carnegie The Legend of the Monk and the Merchant: Twelve Keys to Successful Living by Terry Felber WEBSITE: www.tx-elderlaw.com Law Office of Elizabeth Raxter on Facebook eraxter on instagram

Long-term care is a delicate topic that many hesitate to talk about. On this episode, Andrew sits down with Erica Kroll, Insured Solutions Consultant at Baird, to discuss questions such as: What is long-term care? When should I start thinking about Long-Term Care Planning? What are different options to provide funding for long-term care needs? Click here to receive the quarterly The Advocate Advantage™ e-newsletter. Follow us: LinkedIn | Facebook | Website | FYFA Book For more information about the Perry Richey Group of Baird Private Wealth Management, go to our website, call us at 270.467.9664, or email us at theperryricheygroup@rwbaird.com. Click here to purchase Finding Your Financial Advisor on Amazon.

In this episode, Taylor had the pleasure of interviewing the incredible Kelly Augsberger, an industry professional in the field of long-term care planning. She shared her expertise and provided us with some invaluable advice on how to make progress in our lives, whether it's related to long-term care or not.I hope you enjoy this episode as much as I did! Let's continue to learn, grow, and make progress in our lives together. ✅Don't forget to leave a review and subscribe for more informative content!!✅✅Contact Thatcher at thatcher@propathfinancial.com with comments and questions!Are you over age 50 and need retirement help?Schedule a free consultation https://www.propathfinancial.com/get-startedSubscribe for all things retirement, investment, tax, & estate planning https://www.youtube.com/@functionalretirementJoin The Newsletter For All Wealth Building Tacticshttps://propath.ck.page/60fab1df4d DISCLAIMER: The information provided in these episodes is only to be considered helpful hints and education. Nothing said or shown is to be misconstrued as specific tax, legal, or investment advice. Consult with your tax, legal, or investment professional before acting on anything you see in these videos. ​​Investment Advisory Services are offered through ProPath Financial, a registered investment adviser authorized to do business in states where registered or otherwise exempt from registration. Nothing discussed in this podcast should be viewed as investment advice.

Scott welcomed Brad Shepard back to the Optimized Advisor studio for a third time to discuss the emphasis on creating an emotional connection, engaging in meaningful conversations, utilizing probing questions to explore clients' thoughts, and initiating discussions on long-term care planning to address clients' concerns effectively.For the past 24 years, Brad has enjoyed an area of focus in selling, training and marketing Long-Term Care and Linked Benefit solutions. His current role, Regional Sales Director, with OneAmerica is to help distribution partners, advisors and agents develop and grow their Long Term Care Planning business through extensive business planning, marketing, training and support. He has also been a speaker, on the topic of Long-Term Care Planning, at hundreds of educational seminars, workshops and webinars across the country.Brad is a Pennsylvania native and a graduate of the University of Pittsburgh. He resides in New Bloomfield, PA with his wife, Denise, son Logan, and daughter Linsay.In this episode you will learn the following: How to effectively ask open-ended questions as an Advisor discussing long-term care planning solutions with clientsAvoid discussing numbers and financial aspects of long-term careHow to optimize client relations and personal experience to create an open dialogue for long-term care planningListen to our previous episode with Brad:Ep. 2 - The Single Largest Unfunded Risk Facing RetireesEp. 75 - Home for the Holidays, LTC Awareness with Brad Shepard and Brian OttConnect with Scott on LinkedInConnect with Brad on LinkedInFor more on The Optimized Advisor Podcast click here  Follow us on LinkedInFollow us on InstagramFollow us on Facebook**This is the Optimized Advisor Podcast, where we focus on optimizing the wellbeing and best practices of insurance and financial professionals. Our objective is to help you optimize your life, optimize your profession, and learn from other optimized advisors. If you have questions or would like to be a featured guest, email us at optimizedadvisor@mailpcwest.com

Do you have a Long-Term Care plan in place? If you don't, it might be time to start thinking about it. Today we are joined by Bryan Ballentine, CFP®, CRPC™ and Anthony Colancecco, CFP®, CRPC™, wealth advisors with Ballentine Capital Advisors on why you shouldn't wait until you need Long-Term Care to start planning for it. They talk about common reasons some people do not plan for Long-Term Care such as the cost, unpleasant feelings associated with it, and not wanting to give up control of their life. Bryan and Anthony also talk about the average cost of Long-Term care in our community, and what insurance can help cover. Tune in to learn more about how you could be at risk if you do not have a plan in place, and how Bryan and Anthony can help you better plan for your future. Ballentine Capital Advisors Bryan Ballentine, CFP®, CRPC™ and Anthony Colancecco, CFP®, CRPC™ bryan@ballentinecapital.com and anthony@ballentinecapital.com

Interested in learning more about long-term care options?

In this Episode of the Secure Your Retirement Podcast, Radon and Murs speak with Jessica Iverson about long-term care options to consider as part of the retirement plan. Jessica is a long-term care expert in long-term care planning and wealth management.Listen in to learn how long-term insurance has evolved from standalone to asset-based long-term care insurance policies and the benefits of these changes. You will also learn about the right age to start planning for long-term care and the average cost of different long-term options.In this episode, find out:How long-term insurance has evolved from standalone to asset-based long-term care insurance policies.The right age to start planning for long-term care plus the benefits of an asset-based life insurance policy.The average cost of long-term care for assisted living, private room nursing home, and home healthcare.The different types of asset-based long-term care and how they work.The difference between asset-based life insurance and life insurance policy within chronic illness riders.The underwriting process for both long-term care focused products and life insurance policies.Understanding how qualified assets are structured to fund the idea of long-term care.Tweetable Quotes:“Asset-based long-term care is long-term care focused insurance that's built on an asset which can either be a life insurance policy or an annuity.”- Jessica Iverson“It is really the morbidity that the long-term care focused products are looking for in clients.”- Jessica IversonResources: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.

What is Long-Term Care Planning? From a fiduciary perspective, it is educating and bringing awareness to the challenges and expenses of long-term care. 70% of people over the age of 65 will need care for 3 – 5 years. On today's episode, our host Mary Vandenack, CEO, Founder, and Managing Partner at Vandenack Weaver LLC talks to Darrin Brumbaugh, Partner and Private Wealth Advisor at Harrison Financial Services about this planning process. When should you start thinking about Long-Term Care? What products are there to help people plan ahead? What can you utilize to stay at home? Listen in to get all the information that you need to protect your future.A Hurrdat Media Production. Hurrdat Media is a digital media and commercial video production company based in Omaha, NE. Find more podcasts on the Hurrdat Media Network and learn more about our other services today on HurrdatMedia.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It doesn't occur to most people to seriously consider the likelihood they may outlive their retirement income.  It is often “blown off” with an attempt to laugh it off.  It's often one of those laughs that is more about anxiety that anything that's actually funny.  The greatest financial risk for depleting retirement resources is an unexpected and lengthy stay in a long-term health care facility, like a nursing home or an assisted living center. Common estimates say that about 70 percent of adults over 65 will need long term care. The current reality is that there are not enough units to take care of the demand and the care is prohibitively expensive for most people.  The job will fall to family members, at a significant financial and emotional cost.   A podcast that blends the nuts and bolts of financial advice with the emotions that drive making them.Rick Kahler, CFP®, CFT-I™, has helped people make better money decisions by integrating financial planning. He blends the nuts and bolts of financial advice with the emotions that drive making them and shares them on his financial therapy podcast.

On the list of dozens of retirement-related concerns, how high on the list does the potential need for long-term care rank for you? If you live long enough, chances are you will need extra medical help, and those expenses can add up quickly. On today's show, we'll share some questions you should consider when deciding whether you need long-term care insurance.   Here's some of what you'll learn in this episode:  Who needs long-term care insurance? (1:00) How realistic is it to self-insure against long-term care expenses? (2:05) Mailbag: It is common for children to help parents with long-term care? (5:53)   Want to get in touch with Mark?  https://retirementhuddle.com/ mark@howardfinancialgroup.com 888-511-7526                 

Airdate: 6/25/23: In this episode, Bret Elam and Karen Bezar discuss the importance of long-term care planning and its impact on families. Joining our hosts for this episode are SPECIAL GUESTS Michele Kilstein and Brett Ringold of “A Long Term Companion,” a family-owned and operated homecare agency. They share their personal experiences with long-term care and explain the importance of planning and preparing for it. Listen now! #RetirementPlanning #FinancialServices #FinancialPlanning #LongTermCare #CareGiving

There are some people who can take the most difficult situations and find the humor in them. Cathy Sikorski is one of those people. I met her several years ago at a midlife bloggers association meeting and became an instant admirer. She's written a blog for years dedicated to examining the hard and hilarious life of caregiving, which she's done herself for the last twenty years. In addition to that, she's a practicing  dealing largely in Elder Law and in today's episode, has all kinds of personal and professional/legal advice to pass on to you. She's the author of several books, the first being “Showering with Nana."  Today we're going to discuss two more that outline very eloquently how to talk to your loved ones about their end of life plans – or what needs to happen when dementia is in the picture: Who Moved My Teeth and Twelve Conversations: How to Talk to Almost Anyone about Long-Term Care Planning. Not the most “fun” conversation to have – but vital ones. Our Advertisers Links!  Click HERE for the NEW fabulous offer from AG1 - with bonus product with your subscription! You can hear more about this and many other topics by listening to my podcast, SelfWork with Dr. Margaret Rutherford. Subscribe to my website and receive my weekly newsletter including a blog post and podcast! If you'd like to join my FaceBook closed group, then click here and answer the membership questions! Welcome! My book entitled Perfectly Hidden Depression is available everywhere and you can order here! Its message is specifically for those with a struggle with strong perfectionism which acts to mask underlying emotional pain. But the many self-help techniques described can be used by everyone who chooses to begin to address emotions long hidden away that are clouding and sabotaging your current life. And it's available in paperback, eBook or as an audiobook! And there's another way to send me a message! You can record by clicking below and ask your question or make a comment. You'll have 90 seconds to do so and that time goes quickly. By recording, you're giving SelfWork (and me) permission to use your voice on the podcast. I'll look forward to hearing from you! Episode Transcript Speaker 1: Well, you and I have known each other, Kathy, gosh, for 10 years. Maybe a Speaker 2: Long, I, I know a long time. We've grown up a lot in the years that it's been, so I'm gonna go Yeah. A long time Speaker 1: . Yeah. A long time. Well, I think I met you, uh, when we were all meeting at Midlife Boulevard and that kind of thing. Right? Right. Speaker 2: Yep. That's what I remember in that, in Nashville, I'm gonna say. Yeah, yeah, yeah. Speaker 1: That huge hotel ...Yeah. It was great. And I have loved your work since, um, tried to have you on as one of the first guests of self-work, and I had no idea what I was doing technically, and I botched it, and I practically was in tears and said, I'll have to have you back on. And six years later, here we are, Speaker 2: , hey. But you know, a lot has happened in six years, and honestly Right. This is the universe because now is a really good time for us to talk. Yes, I have, and you have refocused our work many times. Right. And the refocus has helped us be better, um, Sherpa's for people in women especially, but people, uh, in what we're trying the message that we're trying to get out. Right. And so, I'm happy that it took six years. I, I, I, yeah. Really am, because I'm better focused about what I wanna say. Speaker 1: Well, you are incredibly kind. Your first book that I read was showering with Nana. Yeah. And I, it brought tears to my eyes, and I, I just loved that book. Speaker 2: Speaker 1: Well, for those of you who don't know, Kathy Sikorski's work, basically, I mean, she's, she's gone. And I want you to tell your story, but you've gone from being someone who was caring for a lot as I understand it, gone from a family member, a friend who was caring for a lot of people who were getting older and having those kinds of problems to then you earned your elder law degree and, and really have changed your whole life. And so I greatly admire that because it's, it's something where you have said, let me take what life has given me and then be able to have the experience on a lot of different levels, both personal and professional, so that I can really help other people. And I wanted you on, because I think this is so important, um, that we talk about, um, elder care and, um, everything you talk about, you have two new books, uh, that you sent fairly New, who Moved My Teeth, which I, after I read this, I peppered my husband with questions about, do we have that? Do we have this, do we have this? Um, and then I, I read until about 10 30 last night, uh, 12 conversations, how to talk to almost anyone about long-term planning. And so I have both of those books here with questions. Uh, so tell us a little bit about your story first. Speaker 2: So, so, yeah. I'm so happy that you brought up the fact that my life, what happened in my life, really informed and changed the way I decided to have a career. Yeah. Because I think, especially women, we get very feeling trampled down about what life is throwing at us and how we can't go do the thing we thought we wanted to do, or what we should be doing, or how we thought life should let us do this. That's right. Thing. Right. We feel very trampled by, by caregiving, by caring for our children, our parents, our, our, our spouses or whatever. And yet, it's an expectation that right or wrong, and a lot of times wrong, comes with just being a female, right? Mm-hmm. . Speaker 2: And so, I, I, I became a caregiver for eight different family and friends over the last 30 years. And honestly, this is a job for me that happened out of certainly love and respect for people in my life. My grandmother, my aunts, my, you know, my very good friend who fell down a flight of stairs and had no one to care for her, and had a traumatic brain injury. My brother-in-law, my sister passed away, and he was diagnosed with multiple sclerosis, the worst possible kind. And so I became his primary caregiver. So my only point being about that, that you made, which was, there were times when I was mad about that. Like, this isn't what I wanna be doing. This isn't what I think my life is supposed to be about. Right. I have dreams, I have aspirations. And it turns out that that's exactly what my dreams and aspirations were all about. It was taking my life experience and turning it into the person I wanted to be, which was this speaker, author, educator about something really important that I learned that I could share with people to help make their lives better. Speaker 1: Was that even close to anything that you had predicted or dreamed or wondered about that maybe that's the direction your life would go? Was it anywhere close? Speaker 2: No. Well, I didn't know it, but yes, because here's the thing. I wanted to be an actress. Okay? I was a theater major in college , um, for a couple years. And then I realized two things. I had a boyfriend. I couldn't spend any time with him, and I didn't, wasn't sure I could make any money being an actress, right? It, it, it's the poor girl's way to, to go about it. Maybe, I don't know. Lots of people make money and lots of money, but, so then my other dream was to be a lawyer, which is exactly what I did. Um, but in my mind it was the, the Clarence Darrow, the, you know, the big trial lawyer who's gonna save and help people by, you know, making these great trial things where, like you see on television the big surprise ending, whatever, all of which, of course has an acting component to it. May I add, right? Speaker 1: ? Of course. Speaker 2: So what that means for me, really what that meant for me is two things. I really wanted to help people, and I wanted to be in front of audiences in some fashion, right? Mm-hmm. and Margaret, that's exactly what I do. Wow. That's exactly what I do. Exactly. Speaker 1: Yeah. Wow. Mm-hmm. , it's giving me goosebumps. Speaker 2: Me too. . Speaker 1: And that's, you know, how when you say you got angry about it, it, it's, I mean, that's a lot of people to be primary caregiver for. Speaker 2: Yeah. . Speaker 1: So, I mean, can you tell us a little bit about, was there no one else? Did you just do it better than everyone? And you knew you did, did you, was it just everybody? That's the way your life turned out. Speaker 2: Everybody in your audience probably is a caregiver on some level, let's be honest. Mm-hmm. and, and, and the caregiving, you know, like I say, the joke is the train comes to my door and stops and everybody gets off. I mean, two things happened. Number one, like my grandmother in that book, my first book Showering with Dana, she came to live with me. And I had a two-year-old at the time. Mm-hmm. , so had a 92 year old and a Speaker 1: Two year, which is a hilarious book, by the way. Speaker 2: Thank you. They were, they definitely wanted to, you know, gang up on me and see what they could do, get away with it, Speaker 1: , Speaker 2: And it worked a lot. Um, but they, but that experience then led to, you know, other family members both on my side and my husband's side needing care. And as I'm doing this, as you remarked, I, I was a, I was a small town lawyer at the time mm-hmm. mm-hmm. . And as I started to formulate my practice around elder law, which is really kind of a new area of law, it is not, it is not the ancient law of, you know, criminal law and trial law, and even a state law, which goes back hundreds of years. Elder law is new because it's, it's about Medicare and Medicaid and nursing homes and, you know, things that have been growing and growing and growing during our lifetime. Mm-hmm. . But I needed to know this stuff cuz the people I were take, I was taking care of were old people. And then I was taking care of not so old people, but who were also in a system of Medicare and Medicaid because of their illnesses, their dramatic illnesses or whatever. So I, I just had to learn it. Sure. And then I became an elder lawyer, you know, cause of that. Speaker 1: Is that an actual, uh, specific kind of law, specific law degree? Speaker 2: It isn't, it isn't a law degree. There are certifications that you, certifications take. Yes, absolutely. And there are classes now, I would say they're fairly new in law school. Law schools are now offering elder law classes. Um, and it is definitely a specialty in law for sure. Okay. It's ab and there's lots of lawyers. That's Speaker 1: So that's really what I do. I try to teach everyone out there why you need an elder lawyer. What is it that you need? And what is different about elder law as opposed to any other, Speaker 1: Well, you make that point very well. again So, but the point being that I think some of us do go on autopilot, even if we're aware of these kinds of things. Speaker 1: And then other people just simply don't wanna think about it. You know, I grew up the daughter of funeral director and we, I mean, death was a part of life. I heard about people dying every day. And so I have a little bit of a different take on it, I think because of that. But certainly in my practice now for a long time, I, you know, mortality is something that, an illness and losing control, I mean, it's something that we all fear so much. Look at what's happening to Bruce Willis right now. I mean, he's taking the very brave step of letting some information out about it. Fronto, frontotemporal dementia or something like that. Mm-hmm. Speaker 2: mm-hmm. Speaker 1: . Um, and so, you know, good for him, but it's also very frightening and, uh, very, I think probably how many people have said, I'd rather just be hit by a bus than develop Alzheimer's. Speaker 2: So here's the thing though, it doesn't work that way. Yes. That's the problem. It doesn't work that way. And by ignoring at your peril, not taking, getting your affairs in order mm-hmm. , you really make it hard for the people who love you. That's right. And that's not what you wanna do. You don't wanna make it hard for the people who love you. And so, especially in my world where I deal with people who are sick, I deal with people who are incapacitated. So, so Bruce Willis is a perfect example of being so generous of spirit, his family, to share this diagnosis with the world, which is quite frankly, a horrific diagnosis. Yes. It's, um, to say, we've been dealing with this, we now know what it is and we're going to continue to deal with it. Speaker 2: But you can absolutely pretty much ensure that they have their affairs in order. So in other words, during the journey when they were trying to figure out the problem, they made sure that their powers of attorney were in order. That they, that those powers of attorney let them do what they want them to do. Because it's like you said, sure. You sort of know about it, you hear about it, you have it. But did it really do what you wanted it to do? Which is why I talk about it more specifically in the book so people know what questions to ask. What kinds of questions am I supposed to be asking about this document that somebody has shoved under my nose to sign? Right. Speaker 1: Let's talk a little bit about, I mean, I did not read all of who Moved My Teeth, but the, the picture of the book that I got was certainly, there's a lot of information about exactly what you just said at the beginning of the book. And then the latter part of the book is more, um, well, practical, practical, pragmatic, Speaker 2: Practical advice for caregivers for really Yes. When you're stepping into it, how do I talk to my person who, you know, how do I spend a whole day with someone who's quite frankly making me insane with it? The same questions, or Sure. You know, what kinds of things can I do? What are they acting crazy? Maybe they have a urinary tract infection. And I never knew about Speaker 1: That. I was gonna ask you about UTIs, cuz that's really a big deal. You know, before we move on too much, there's a young man I worked with several years ago now, he lived on a farm kind of complex. All his family lived together and he adored, adored his grandmother. And she was diagnosed with, uh, a terminal illness and she refused to talk with him about her dying. And I'll never forget, he came, this young man was tough as a brick, you know, and a reared on a farm and used to, I mean, he didn't, I mean, the fact that he even came to therapy was a minor miracle. But he said, it's just like there's this, she's gone, she was dead by the time he came in. And she, he said, I never got to talk to her about how I was gonna miss her and what I loved about her. And I know that's a separate topic in many ways from some of the more legal things, but not really. I mean, it's intertwined, isn't it? Speaker 2: But I, yes, and I love that because these legal things are an act of love. Speaker 1: Yes. Speaker 2: This is an act of love both for you as the person who is doing it. And for you as a person who's saying, mom, dad, I wanna spend time with you. I just had this conversation with two three daughters who, who have a, a podcast as well, which, which we talked about doing that. But, but they, they said we had to step in so quickly as caregivers. We didn't get the end of times as daughters. Speaker 1: Right. Speaker 2: And, and I have read this again and again, that people would so much more rather be grandsons and daughters and loving spouses rather than caregivers trying to deal with paperwork and, you know, and hospitals and doctors and anything you can do to make the hard road, the, the, the legal road, the people, anything that you can do to make that crisis part of the road smoother, gives you time to be a loved one. Speaker 1: Oh, that's a great point. It's such a significant one. Um, it, this the other book I talked about, 12 conversations really does pick out, you know, how do you talk to your dad? How do you talk to your mom? How do you talk to your siblings? How do you talk to your children? Um, and I I I loved a lot because you actually then have dialogue that we can read and go along with it. And you made jokes along the way. I love one of 'em called, I mean, I, I, I I dogeared it. What was it you said? Um, let see. Oh, it says, as you go through this chapter, you'll begin to understand that although this basic paperwork is crucial, it is the tip of the iceberg. And we are on the caregiving Titanic. . Speaker 2: Well, wow, that was good. Yeah, Speaker 1: That was good, wasn't it, Speaker 2: ? Speaker 1: And you're right, it's inevitable. You know what's gonna happen eventually, um, I've been on a hospice board for, or I was on it for many years and, you know, heard a lot of stories about how people handle palliative care and hospice and was thinking about that as I read your books. And, um, but I, I love the specificity of, of what you talk about in who Moved My Teeth, for example. You literally have a list of 60 ways to be more patient. You know, everything from count to 10 to drink a large glass of water, change what you're doing, take a bath, put gum in your mouth, , Speaker 1: Tell a joke, take a picture, order food, put lotion on you or your loved one, clean out a drawer, go through family photos, dance, bake color, and a coloring book. Tell a story. I mean, it's just these, I love the specificity of this. Speaker 2: And that gives not only you control, but the, but your loved one. Right. Right. So whether they have dementia or they're just ill, or they're just homebound or, you know, everyone doesn't have dementia, Margaret or, you know, caregiving isn't isn't just for those people with dementia. Like, it, it, it extends itself to lots of different kinds of people and their, their challenges. But if you are, for instance, coloring with them, it just gives them some control. Here's your page, here's my page. You can pick your crayon, you can pick your colored pencil. And even that, that little tiny weird thing of the two of you sitting there, you know, adult coloring was a big deal. Okay. Several years ago. Right. Speaker 1: Especially during the pandemic. Mm-hmm. Speaker 2: . Yes. And it's or puzzling. Right. Putting puzzles together, it's because two things. Number one, it's, it's kind of like, uh, what's that called? Parallel play. Mm-hmm. . Right? So, so you're both doing something, you're both feeling in control of the situation, and yet you're not necessarily having to engage, which sometimes disengaging is good, right? Speaker 1: Yeah, sure. Speaker 2: So, so any of those things is, is yes, certainly to, helpful to you as the caregiver, but it's probably also helpful to the person you're caring for as well. Mm-hmm. . And they have much less control over the situation than you do, let's be honest. Speaker 1: And, and them accepting that I, I recently had a, um, a benign tumor removed and my son, who's 28, came and stayed for three weeks to help take care of me cuz it was a more serious surgery and that kind of thing. And we sat down and had a talk about, okay, let's, let's talk about what's in our future and you know, you are our only child and you know, what, what comes to you now? And he looked at us and said, well, I think I'm probably gonna have to move to Fable, Arkansas, or y'all going to move where I am. One of the two eventually. And, and we talked about timing and, and I decided after reading your book that the next time he comes, I'm gonna ask him to stay another day and go over, go to our lawyers with us and talk about these documents that we've signed that he's named in. But he was, what he was 16 or 17 when we did them. Right. Speaker 2: So Speaker 1: He needs to hear about it and know what's going on. And, and I, I loved that taking, that was my own personal takeaway from your book. Excellent. And I, I think that that is so important for people. And, and again, doing it when you're 40, I mean, uh, waiting, you know, oh, I'll do that when I'm 85. Well, you don't know what you're gonna be like at 85 Speaker 2: And what you do at 40 is not what you're gonna need to do at 60. Right. It's very different. So if you did it at 40, you and you're 60, you need to take a second look. Speaker 1: Yeah. Speaker 2: You need to really, what Speaker 1: Do you think, what do you think is the, is the most common either error in thinking or behavior or both that people, Speaker 2: Well, the, the most common is not doing anything. Right. That's the most common. So, so if anybody who's listening to this now says, okay, I didn't do anything. I'm, I need to go do something, then yes, please go do that. Get your powers of attorney, get your wills, get your advanced directives. Just get them, get them. Mm-hmm. , um, and talk to an attorney about what you need and what your desires are. Specifically, I'd say the second most, um, common error is people who have done them, did them 10, 20, 15, 30 years ago. Especially people who have little children, they panic. I want someone to take care of my kids. If anything happens to me, I wanna make sure they have money if anything happens to me. And that's wonderful. And then they, you know, I always say they take that and they shove it into their underwear drawer and then you never see it again. . And you need to take it out of the underwear drawer, like Speaker 1: That old pair of underwear you used to be able to get into. But Speaker 2: Exactly. This is where I held up the granny panties and say, you need the granny panties of the wills. It's fresh, it's clean and it covers everything. . That's what you need to do. So that's the second biggest problem is people don't update their documents and boy have things changed. There's a thing now, um, it's called rufi. I wish I could remember what it stands for without looking it up. But what it's about is giving someone access to your digital information if you are sick and incapacitated, which is really important. Or quite frankly, if you're dead. Right. Yeah. And that information, that acknowledgement that yes, I'm giving this person access, has to be in those documents. Not the password so much, but yes, this person has the authority to get into my digital assets. And then when your son comes Margaret, show him where you keep your passwords, which, you know, online Speaker 1: Is, I don't see him anywhere. I keep online my Speaker 2: Head . Right. Online isn't great and in your head is even worse. . Speaker 1: Well, so what I did, I I sort of, the night before the surgery I went, what, wait a minute, what if something happens? And so I gave him the major passwords I could think about and we both kind of cried. And, and then I said, you know, but I, I should have all those written down somewhere or can Speaker 2: Somewhere. I mean, everyone says don't write them down, but truthfully, if you can't get into your computer where your passwords are, not having them written down doesn't help you. Right. Right. So you at least have to have your basic passwords somewhere where your loved one can have access to it, but legally also give them access to it. I see. In your documents. And that's new. That's not even in, I don't, pretty sure that's not in my first book. It's probably in my sec, my second or third book. Um, but things keep changing and that's why you need to keep looking at these documents, say every five years or so. Cause life changes. Speaker 1: You know, I also, um, my dad was always really sad because after his dad died and his dad died when he was 15, there was such family uproar about the will mm-hmm. Right. But it ripped the family apart. And I think a lot of the suggestions that you make are trying to say, you know, you could be that family where siblings don't talk to each other anymore after someone is either you're, you're having to decide about caregiving or, or you're having to decide about, you know, death issues or what's gonna happen after death. It, it can rip families apart like nothing I've ever seen really before. Speaker 2: Um, and so you, your work in my work are the same in that regard because in the sense that communication mm-hmm. is always going to be the key. Right. Right. You have to, you have to tell your children and your, it's so funny that you're saying this cuz I just, my mother's 90 fours down the street from me, and she's a pip and a half, and your listeners can go see us on TikTok if you want. I do fun little videos with my mom all the time. on TikTok. Um, and they're just, that's all I do is videos with my mom, who's 94. And she's so hilarious. Um, but I just said to myself self, I said, we need, although her will is very recent, I would say five years old, I wanna look at it again because I'm not sure it does what she wants it to do based on conversations that we've been having. So let's look at it. Right. Let's talk to my siblings and, you know, let's see what it, you gotta have, you have to, at least this is the other thing that you asked me that I sort of didn't mention is people just like you said, don't wanna talk about this. Yeah. It's scary, it's uncomfortable, but, you know, that's why we Speaker 1: Have, and also, uh, it, I mean, my brother died three year, three and a half years ago. It also, you, you can't talk about it without your own feelings about mortality or getting ill or losing control or, you know, these things that we fear that we just distract ourselves from and, you know, either have another beer or watch another baseball game mm-hmm. or go out and, you know, hunt something or fish something. Mm-hmm. So that we're in control or, or vape or whatever we do, um, to, to distract ourselves from the reality. Speaker 1: Right. You don't, you don't get outta dying. Right. So, um, it's, I I just think that these conversations are, they really can be trust builders. They can be things that, that offer clarity, that offer trust, that offer a sense. And as you point out a sense of control to the person who is older and realizes that they have a disease that is going to weaken them or, or cause their life to be something that frankly, you know, they wish did, hadn't happened to them, uh, like Bruce Willis. But at the same time it can, and we don't get to pick. So it, it's not like going to a, a restaurant and saying, oh, I'll have that. You know, it's just not like that. And, Speaker 2: But it's in the same vein, it's much harder to have a disease than it is to have a conversation about what happens if I have a disease. Speaker 1: Right. Speaker 2: It's not that hard. My friends, which is why I wrote the 12 conversations book. Yeah. It's really not that hard. It's five or six simple questions you need to ask yourself about what you want, what you think you wanna do, um, and then get a lawyer to write it up for you. It don't make it harder than it needs to be. Speaker 1: Speaker 1: Number one, there is nothing that is more mentally health challenging than being a caregiver. Mm-hmm. . It is, it is so hard. And I I I encourage you desperately to, if you have, especially if you have mental health benefits at your work or you know, in your insurance or whatever to use them because caregiving is a mental health stress. Do not think that it's not because it is. That's Speaker 1: As many people found out during the pandemic when it was all of a sudden 24 7 kind of Speaker 2: In your face. Yes, exactly. And if you are not yet a caregiver, but you see it coming down the road and you just happen to be going to a therapist, talk to them about that mm-hmm. , talk to them about this piece of your life that you see coming for you. And maybe if you're having challenges having that conversation with that person, or you yourself don't wanna do it, but you know, it has to be done, maybe you can get some tactics, some tools, because this is also about Sure the legal tools are important. That's what I'm here to tell you about. Get those legal tools. But it's also the communication tools, you know, the stress tools. There's so many tools that you need as a caregiver, and there's lots of people out there who can help you with that. Speaker 1: I, I, I also, before we, before we stop, I wanna make the point, I I, you're right. Caregiving you, you think, oh, I'm just taking mom to get her hair done, or Oh, I'm just taking dad to the post office, or I'm just doing this, or I'm just doing that. But those things add up mm-hmm. , and you've got children of your own, or you've got a job of your own or you've got a home of your own or you, you live two hours away or whatever it happens to be. You're right. It's, we can minimize, oh, this is, this shouldn't be, uh, you know, I'm just doing that. But they're, when you're just doing four or five or 10 or 12 or 15 or 20 of those things a month, then that's a lot. And it changes your life. And it can definitely impact the relationship you're in with a spouse or a partner. Um, and actually they may be going through something similar with their parents. Speaker 2: Mm-hmm. , Speaker 1: So, or aunts or uncles or whomever, grandparents. So it's just a conversation about it and, and to say, gosh, this is, you know, maybe people say, oh, I'm, I'm, I'm loyal, this is what I'm supposed to do. But that doesn't mean you have to, you know, you can't grieve it or feel different feelings about it other than, you know, I, I, I just, I just have to do this. It's, it's like, it's more complex than that. Speaker 2: Agreed. It is more complex than that. And you need to grant yourself the grace to understand that. Speaker 1: Yeah. Wow. What, how have you changed in, in, in taking care of these folks that you've loved or you've cared for being an elder law, um, specialist Now? What, what, I mean, how have you changed Kathy? Speaker 2: Um, I, Speaker 1: Being an author, a speaker. Speaker 2: . Yeah. Yeah. Yeah. Well, yeah, I've changed my career. That's for one. Um, honestly, this is, I don't know if this is terrible or not. Some part of me, it, my, my psychological part of me says it probably is, but I, I've actually become kind of a tough love caregiver in a lot of ways. Mm. Speaker 1: You mentioned that Speaker 2: The, the empathy is great, but the practicality is hard. And it's okay for you to recognize that and, and to have expectations of others. Not the person that you're caring for, the person who should be helping you, the person, you know, even your partner. Um, it's okay to have expectations of others. And I think I often when I'm teaching that, that often becomes a question. Um, you know, but my mom won't talk about this or I can't, she won't go to the doctor or whatever. And I'm like, you, you have two choices. You can take the tough love perspective that this is what we're going to do if I'm gonna be your helper, or you can tell them that they will have to suffer the consequences of that action. And you have to be okay with that. Yeah. So, wow, tough love caregiving is hard. Mm-hmm. . But it might be harder to be super empathetic and not allow yourself to realize that sometimes the person you're caring for also has to take the consequences of their Speaker 1: Actions. And it's really, I what comes to mind is sort of the age old. You, you have to parent your parents kind of thing. Mm-hmm. that one of the points, for example you made in the book was if there's a paid caregiver and your parent is being demeaning to them or saying things that aren't appropriate, that you have to say, you know, it's better to say, mom, you can't talk to Jane like that. Right. Or you, you need to apologize for what you just said, or Yes, that's not appropriate. Jane will leave and we really like Jane, and Jane does a good idea. Yes. Jane does a good, uh, job with you and for you and, and we can talk out what you don't like about Jane, but you know, talk about it with me. And then maybe if we need to make another agreement with Jane, that's one thing, but don't play out your, whatever is going on with you and, and say things to Jane that, that aren't helpful. Speaker 2: The other thing, and that's so important. Yes. The, the other thing that I'd like to bring up that I have changed, not changed my viewpoint amount, but have, have really put into practice and want more women, especially to do this, is get paid for your caregiving. Yes. If your parents would pay Jane, they should pay you. Right. Especially if you don't have Jane coming, if you are doing all of it. And if you are taking a f, especially if you're taking a financial hit, if you have, you know, gone from full-time to part-time work, if you have quit your job to take care of them, if you moved into their house and got rid of your apartment or you're paying rent over there, but living with them, if you are taking a financial hit and they have assets, they should pay you. And you get a signed paid caregiver agreement to protect all the parties. Speaker 2: But that's really important. There are far too many unpaid family caregivers who can and should be paid. And we are recycling this, this, uh, women get to the point then in their lives where they have no retirement, they have no right savings. They have no, because they stepped out of the workforce to be a caregiver 1, 2, 3, 7, 9 times, right? Mm-hmm. mm-hmm. . And there are even me ways to pay someone if your parents have no assets and Medicaid will pay, they will pay family caregivers. There are lots of organizations that have cropped up. Again, I said, do things change in the last two to five years that are now making sure you can get paid as a family caregiver. So, so that's the other thing that I, I have learned and I have changed my mind about that. Yes, this is great to be about love, but there's nothing wrong with getting paid. Speaker 1: Mm-hmm. . Mm-hmm wonderful point and very important point. So, well, after six years, I'm really glad we finally had this conversation. It feels Speaker 2: Two more great. Speaker 1: Like it's a little bit different a conversation than we would've had six years ago. So Speaker 2: Very much yes. Speaker 1: That's, um, that's to everyone's benefit I think. So I thank you so much. How can people get in touch with you to speak or to teach or, um, just Speaker 2: To, so yeah, so if you're in a workplace, in a corporate workplace, that would be awesome to have me come in and help teach your, your team about not only caregiving, but what benefits you may have at work that you're not using to help caregivers. And that what you could bring into work. Uh, if you want to just, you know, look at my books Kathy Sikorski and see my name on the screen there. Just type that in. I come up for the first three pages on Google, but I'm on Amazon, so all my books are available on Amazon. And my website, which is being recreated as we speak, um, is kathy sikorsky.com. Um, and that's c a t h y s i k o r s k i kathy sikorsky.com. Um, and anytime you have a question, Kathy sikorski kathy dot sikorski gmail.com, you are free to email me. I love to interact with people who have questions and I will answer them as best I can and guide you to the resources that can really help you. Speaker 1: Kathy, I admire you so much. Thank you very, very much. And you are really funny. So, and Speaker 2: You told me about Speaker 1: That, that it's so important to keep your sense of humor. Speaker 2: Please. You guys, you gotta laugh about this cause it's, it's, first of all, it's a laugh worthy and second of all, if you're not laughing, you're doing something else. You don't wanna do Speaker 1: . You know, my dad used to say, uh, cuz he just infirmity after infirmity after disease after problem. He looked at me one time when he was about 81 or two and he said, you know, Margaret, God's not supposed to give you more than you can bear, but I gotta talk to God because he's way overestimating my abilities. . Speaker 2: Yes. I'm on your dad's side. Yeah. Speaker 1: If Speaker 2: He, if he ever figured out how to do that conversation, you should put that out there, Speaker 1: . Well, I'm not sure he did, but , thank you so, so Speaker 2: Very much. So great to spend time with you. I really loved it. Speaker 1: Yeah, me too. Bye. Bye.  

Marc Glickman is an actuary and long-term care insurance expert. He is the founder and CEO of BuddyIns, a nationwide community of long-term care insurance experts who are dedicated to helping individuals and families find the best plan to meet their care needs. Marc previously served as the Chief Sales Officer of LifeCare Assurance Company, a firm he worked with for over 11 years before founding BuddyIns in 2019. In addition to his work at BuddyIns, Marc serves as a member of the Board of Advisors for CLTC. He holds an Economics degree from Yale University and is a designated Fellow of the Society of Actuaries.   Marc joins me today to discuss and clarify the misconceptions about long-term care planning and insurance. He describes why long-term care services have greater inflation than other products and how financial advisors can approach a conversation with a client about policies. He discusses why financial advisors should work with long-term care specialists. He also explains how offering long-term care planning to clients can open up generational wealth planning opportunities for financial advisors and highlights why long-term care planning is one of the best business relationship-building tools for a financial advisor.   “Think of a long-term care policy as a gift to your family. I bought my policy as a gift to my wife, who was happy to know that if something happens to me, she will not feel burdened with providing care for me.” - Marc Glickman   This week on The Model FA Podcast:   Marc's background and how he began his career in long-term care planning and insurance Long-term care planning and insurance and its role in a general financial plan How unpaid long-term caregiving impacts families The best time to talk to a client about long-term care insurance policies How to talk to a client who's not open to long-term care Funding mechanisms for long-term care services and policies Planning for insurance premiums with clients living on a fixed income The likelihood of an individual using their long-term care policy How a client can benefit from a long-term care plan if they don't get to use it How offering long-term care products can help financial advisors grow their businesses   Resources Mentioned:   Book: The Snowball: Warren Buffett and the Business of Life by Alice Schroeder   Our Favorite Quotes:   “When you're properly insured, you get an insulation and a sense of fearlessness that no matter what happens, everyone around you is taken care of. It's a rewarding feeling.” - David DeCelle “Not implementing long-term care planning throughout your client relationships makes you grossly under-insured in your own book of business. Have these conversations; otherwise, it's a business risk for you in the long run.” - David DeCelle “One out of two people will have an extended care event that will last up to 90 days. It's definitely something worth planning for.” - Marc Glickman   Connect with Marc Glickman:   BuddyIns BuddyIns Insurance Service on LinkedIn BuddyIns Insurance Services on Facebook BuddyIns Insurance Services on YouTube Marc Glickman on LinkedIn Email: Marc@BuddyIns.com   About the Model FA Podcast   The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes  to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams.    Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you'd love to see covered.    Our Team: President of Model FA, David DeCelle   If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

Our guest on the podcast today is financial journalist and certified financial planner, Robert Powell. His work appears regularly in MarketWatch.com, USA TODAY, TheStreet.com, The Wall Street Journal, and AARP. Bob also serves as the director of Retirement Education at Sensible Money and as editor in chief of the Investments and Wealth Institute's Retirement Management Journal. He is also an instructor in Salem State University's Online Elder Planning Specialist program. In addition, Bob hosts two podcasts himself: the Investments and Wealth Institute's Exceptional Advisor podcast and the Callaway Climate Insights podcast. He received his bachelor's degree from Marquette University and a master's degree from Boston University.BackgroundBioTwitter handle: @RetirementpediaThe Exceptional Advisor podcastCallaway Climate InsightsCurrent Environment“60/40 Portfolio—Dead or Alive?” by Robert Powell, marketwatch.com, Jan. 11, 2023.Tony Davidow“Common Retirement Questions: Should I Be More Conservative With My Portfolio?” by Mer Brown, the street.com, Dec. 23, 2022.“Estimating the True Cost of Retirement,” by David Blanchett, Morningstar.com, Nov. 5, 2013.“The Bucket Approach to Building a Retirement Portfolio,” by Christine Benz, morningstar.com, Nov. 23, 2022.“Spending Trajectories After Age 65,” by Michael Hurd and Susann Rohwedder, rand.org, 2022.Decumulation“Why Target-Date Funds May Be Sabotaging Your Retirement,” by Robert Powell, marketwatch.com, Aug. 17, 2022.“What Is the Average Retirement Age?” by Emily Brandon, money.usnews.com, July 26, 2022.“2018 Retirement Confidence Survey,” Employee Benefit Research Institute, ebri.org, April 24, 2018.Retirement Income Style Awareness Profile (the RISA®)“Managing Post-Retirement Risks: A Guide to Retirement Planning,” Society of Actuaries, soa.org, 2011.“Saving for Retirement Is Easy Enough—Spending It Is More Complicated,” by Robert Powell, marketwatch.com, March 26, 2022.AnnuitiesMoshe Milevsky“Retirement Spending and Biological Age,” by M.A. Milevsky, H. Huang, and T.S. Salisbury, moshemilevsky.com, Sept. 20, 2017.“Retirement Income for Life: 4-Box Strategy,” by Robert Powell, marketwatch.com, Nov. 8, 2012.Social Security“How to Claim Social Security at the Right Time,” by Robert Powell, marketwatch.com, Aug. 28, 2021.“Do the Math. Here's Why You Shouldn't Claim Social Security at Age 62,” by Robert Powell, usatoday.com, Aug. 9, 2019.“Who Does Social Security Provide Benefits To? It's Not Just the Elderly Who Qualify,” by Robert Powell, usatoday.com, Jan. 10, 2023.Long-Term Care“Planning for Unexpected Health Care Costs in Retirement,” by Sudipto Banerjee, troweprice.com, March 2022.“A New Way to Calculate Retirement Health Care Costs,” by Sudipto Banerjee, troweprice.com, February 2020.“Cumulative Out-of-Pocket Health Care Expenses After the Age of 70,” by Sudipto Banerjee, ebri.org, April 3, 2018.“Are Healthcare Costs in Retirement Overwhelming?” by Robert Powell, fa-mag.com, Nov. 1, 2022.“Planning for Health Care Costs in Retirement,” Vanguard Research and Mercer Health & Benefits, vanguard.com, June 2021.OtherElder Planning Specialist Program

LifeBlood: We talked about long term care planning, the important variables to consider, when you should be thinking about it, who to involve in the process, and what to pay close attention to, with Kelly Augspurger, Long Term Care Insurance Specialist and CoFounder of Steadfast Insurance.   Listen to learn how to pay for long term care! You can learn more about Kelly at SteadFastAgents.com, Facebook, Instagram, YouTube and LinkedIn. Thanks, as always for listening! If you got some value and enjoyed the show, please leave us a review here: ​​https://ratethispodcast.com/lifebloodpodcast You can learn more about us at LifeBlood.Live, Twitter, LinkedIn, Instagram, YouTube and Facebook or you'd like to be a guest on the show, contact us at contact@LifeBlood.Live.  Stay up to date by getting our monthly updates. Want to say “Thanks!” You can buy us a cup of coffee. https://www.buymeacoffee.com/lifeblood

YFP Co-Founder & CEO, Tim Ulbrich, PharmD, is joined by YFP Co-Founder & Director of Financial Planning, Tim Baker, CFP®, RLP®, RICP®, to talk about long-term care insurance. During the show, they discuss what long-term care insurance does and does not cover, common misconceptions about long-term care policies, and five key considerations when purchasing a policy.  Links Mentioned in Today's Episode YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning Lincoln Financial Group Study Finds Misconceptions and Confusion About the Increasing Need for Long-Term Care Planning in America YFP 108: How to Effectively Talk with Mom & Dad About Their Finances Your Financial Pharmacist Disclaimer and Disclosures  

Tax Tips for Caregivers & Long-Term Care Planning Join Kelly and her guest, Jennifer Zimmerman, Tax Senior Manager at GBQ Partners.In this episode: