Эпизоды
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Schedule with me at Ask a question at Website: Podcast episodes: What your state let's you keep: Cost of Care estimator:
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We wish everyone a joyful Christmas and holiday season. Celebrate with those near and far, and enjoy all the bountiful gifts of love and family. Open your hearts and love those you love even more this season. Welcome those who are far from your hearts! I hope you enjoy the song my husband wrote a while back to celebrate the true Reason for the Season. Merry Christmas and Happy Holidays! Psst: It's me on flute again
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Пропущенные эпизоды?
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As you gather with family and friends this holiday season, I ask you to notice sons and daughters helping their moms and dads perform simple tasks like cutting their food or getting in and out of chairs. Ask yourself and your spouse/partner what you would like to have happen when you reach a point when it's your turn to need help. Do you have kids? Can they, and do you want them to be forced to help you alone? Or do you want to prepare a written plan that includes answers to their questions and resources to help them? If you don't have kids, I ask you to think about who will be taking on that role for you? LTC insurance is simply a tool the provides funding for you to be able to control your care experience and to decide with your doctors and family where the best place is for you to receive that care. Who wants to hand that control over to the state Medicaid department? Not anyone I know. Whether to decide to own insurance or not, you need a plan. You need to write that plan down and share it with your family so they know what you want and where you want to be. Email me at to request two free planning guides to help you help your family help you. Merry Christmas and happy holidays!
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Diane shares two client stories and some of her own family's story that have all developed over the last two years. So many people want to wait as long as they can to own LTC insurance, but they fail to understand that health is what buys this stuff. When health concerns show up, sometimes we'll be required to wait a specified period of time to be able to apply for coverage. Or we may become an uninsurable health risk, negating all the plans we had wanted to be able to use to protect our family and savings. If you're considering planning for future extended care needs, don't wait! Do it when you first decide to do it. You are currently the youngest and likely the healthiest you'll ever be. Use your health and youth to your advantage to obtain the most leverage for the dollars paid into a plan. Shcedule some time with me to first determine if some form of insurance is an appropriate tool for you. If it is, we'll design a customized plan that meets your family's unique needs. Schedule and get ready to Prepare for Tomorrow!
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This week, we're sharing how Joe & Jenny used a single payment to create a paid up LTC and/or death benefit that pay tax-free when care is needed or when death occurs. This couple is in their 70s and are thankfully healthy enough to be approved for coverage. At 71 and 72, the leverage isn't as strong as when we're inour 40s, 50s or 60s, but we were still able to create a plan that pays significantly more than what is paid in. At younger ages, we would definitely use an inflation rider to increase benefitrs over time as we know the costs of care are increasing. This couple was planning tu use their $200,000 for care if one or both of them needs help living at home, in assisted living or in a nursing home environment. By adding the leverage of the insurance plan, they each have nearly doubled the amount of money set aside for care needs. When we plan in our 40s or 50s, we see leverage at 8-10 times the amount paid in most of the time. I know it seems like we should wait to plan for LTC until later in life, but the leverage when buying younger is amazing. And, with many plans, if you don't need care, then money goes back to your heirs. And when younger, we are more likely to be approved for coverage. Schedule with me to schedule a short call to see if this is something for you to consider.
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This week, let's all be thankful for the people we have in our lives. We'll get back to preparing to help them help us better when we need help living - after enjoying those we love most today! Happy Thanksgiving
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This week, I interviewed Lynda Krueger with Owl Be There Tampa. Owl Be There isn't a quick referral by zip code resource. Or a DIY search through Google. Lynda and her associate improve the lives of seniors with wise guidance around senior living and care. Lynda shares the details of what it takes and how she works to find the right place based on client needs, lifestyles, spiritual beliefs, proximity to family and more. Reach Lynda in the Tampa Bay area at Or search nationwide at and click on locations It's always easier (less complicated) when you have a LTC insurance to help pay for needs at this time of life. Then the fa,ily can focus on what's best rather than what they can afford. Schedule to ask me for help planning.
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There are so many ways to design a long term care plan. However, different planning strategies offer their own unique benefits. For example, LTC Partnership Protection is only available on stand-alone LTC plans. Cash benefits and return of premium options are stronger with hybrid life/LTC and annuity /LTC plans. We will work together to decide which plans and benefits will meet your family's needs best. Listen and learn more and then schedule with me to design your plan
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Lisa asked if LTC insurance requires us to use the whole benefit every month or can we use less and stretch the benefit period to pay longer. The answer is "that depends". What kind of plan do you have? What kind of care do you need? Where are you living to receive care? Who will be helping you? Listen and schedule with me See what your state lets you keep
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This week, a client emailed me an article from Moneywise's retirement section that discussed Medicaid estate recovery. Read the article here - The reason we plan is so that Medicaid won't take our house or impoverish our family. This link shows what different states let us keep and still qualify for Medicaid to pay for our care - There are several ways to protect against the risk of needing help living at some point in our lives. Many people think, "I'm healthy. Why would I need long term care assistance?" A lot of times, we don't need help because we're sick. It's because we get old and become more frail. It's hard to imagine we may be frail at some point, but our aging parents used to be stronger and more agile than they are today. Why would we be any different if we live a long life? We need to prepare today for that day when life gets more complicated and difficult for us and for our families. No one really wants to rely on the state for care and be "put" into a Medicaid bed in a nursing home. We want to stay in control throughout our lives. Having a plan that uses some insurance and some savings/income wil help us to maintain that control We are paying for our own care, so we get to decide where that care will be provided. Given a choice, it won't be in a nursing home. And the state won't be involved in out financial plan. Let me help you prepare for your tomorrow today, whle you are yong enough and healthy enough to obtain a LTC plan that meets your unique needs. Schedule
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I promise I'll start talking numbers and cases again next week. We made it through the storms and things are almost normal in our community. This week, I received a question about me rather than about long term care, and I felt the need to answer. Do I get depressed talking about getting old or getting sick all day long? I've been working as an LTC Specialist for over 20 years, and you would think I am sad every day. Listen and learn why that is not the case, and then schedule time with me so I can help you and your family prepare for your tomorrow.
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I an still catching up after two hurricanes came through Florida this month,m so I am replaying this episode from August 10, 2021. Kristina asks about mistakes people make or things people fail to consider when planning for future long term care needs. There are several, but three stand out to me as I have worked too often with people who looked at options many years ago and are looking again today. Others planned ahead but didn't consider future costs in their strategy. We also need to consider that, the longer we wait, the more likely a chronic health condition may prevent us from purchasing a plan in the future. Listen and learn, and schedule with me at Thank you Kristina, for helping to educate families who want to make wise choices.
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Thank you for all the phone calls and messages asking how we are doing. Our home is fine. No damage and no flooding. We didn't lose power. Lots of branches to clean up, and the last two days we've been putting all the stuff we had to move back where it belongs. I hear generators and chainsaws whenever I am outside, and I feel kind of guilty for not having as much damage and problems as those around us. We are helping others where we can, but Paul just had hernia surgery a few weeks ago. The authorities are asking us to stay put until flooding, electricity and other needs are met. I'll hopefully be back to helping you prepare for tomorrow with Long Term Care guidance next week!.
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Just a quick update. We're ok so far. Hoping for a Cat 3 or less when it hits, likely a little south of us so we'll get a lot of rain. Presuming all goes as well as can be, I'll update you all on Friday.
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This week is tough. Hurricane Helene ripped through the southeast and surprised far too many families. My family is safe, and those we know in the areas hit here in Florida and in the mountains are safe, but many aren't. It will take months and even years to rebuild these areas. This made it difficult for me to talk about preparing for tomorrow when there is so much devastation today. Storms that are created by weather and by dementia hit hard when they hit, and we need to be alert and prepared for both. I can help the people hurt by the storm with prayer. You can prepare to fight against dementia by scheduling time to discuss planning options with me at
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To answer this question, I need to first share why and when LTC insurance companies are required to approve and pay a claim, and then I'll discuss where this can get confusing or messed up. LTC insurance companies are strictly regulated by the Internal Revenue Code (IRC) 7702(b). If the plans offered will be tax deductible to some individuals and most businesses, and for benefits to be paid tax-free, LTC insurance companies must adhere to the 7702(b) rule. This week, I'm sharing and simplifying definitions within the 7702(b) code. When we understand when companies are required to pay, we'll be better able to use their own vocabulary when talking with the claims departments. If you already own LTC insurance, you should read the policy and review it every couple of years. Have your kids read it, too. And adult children should read and review their parents' policies. If you would like help reviewing your plan, ask. I'll be glad to to review it with you. If you don't own LTC insurance, it's time to schedule with me at start designing a customized plan to meet your specific wants and needs. Schedule at
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Today, I want to discuss the financial risk we're facing when planning for LTC needs in 20 or 30 years or more. Home care costs increased on average 10% nationwide from 2022-2023. Assisted Living costs increased 5% on average over that same time. It's not going to get cheaper to get the care we need to get through each day. This information comes from Falls are a big reason people start to need help and support per HelpGuide.org Caregiving is expensive, financially, physically, emotionally. We can't be expected to do this alone, without help. If we reach age 65, greater than 50% of us are going to need some form of extended care services. Thankfully, most of us won't be in a nursing home. But we need a plan to be able to stay home and receive care. We need to plan to pay well over $20,000/month for care needs in 30 years. Listen to this week's episode of costs of care and schedule with me to design your plan at
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Yes, a colleague of mine is selling all of her uncle's belongings because he was "put into aged care". Those who plan know where they want to be when a long term care event enters the picture. And they have the income, savings and LTC insurance to support their plan. Most stay home with help for most to the need and move to assisted living if care needs increase. Most don't ever live in a nursing home, and they surely don't get "put" somewhere. People without a plan put their whole family in a crisis mode adter a severe stroke or when Alzheimer's or other dementia shows up. The three questions we need to ask are: 1) Where do I want to be when needing help to et through each day? 2) Who do I want to have there with me? 3) How will I pay for this? Needing LTC services is expensive. Home care easily costs near $40/hour today, and assisted living $4-8000/month. Costs of care are increasing by about 5% annually. Schedule some time with me to protect your family when life doesn;t go as planned
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On Sunday, Suze Orman discussed the finally finalized rules for inherited IRA's. Listen here: Today, I'm going to share a case study to share what one of our clients did with some of the IRA funds she inherited from her mom. Some of you know that "non-eligible" beneficiaries of IRA funds are required to withdraw all tne money in the IRA within 10 years and pay taxes on those withdrawals. If you don't know, listen to Suze's podcast episode from Sunday, September 3, 2024 with the above link. Nicole used $17,000 a year of the $45,000 she is required to withdraw annually over 10 years to create a paid-up long term care plan that will pay more than the entire inheritance she received ($450,000 IRA and $450,000 non-IRA funds). Listen and learn how we accomplished this. Nicole's mom left her a nice inheritance with an unforseen tax burden. We repositioned that tax burden to create tax-free LTC benefits for her or a tax-free death benefit for her kids. Schedule with me to learn how you can reposition yout tax-burden at
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The two most common reasons people tell me they're looking into LTC insurance are: 1) They don't want to bankrupt their spouse emotionally, physically or financially, and 2) they don't want to burden their children with the responsibility to care for them or to have to pay for their care. Many who say this are caring for a parent who hadn't planned. Many of us in our 50s and 60s don't think we'll ever need care, even though we are providing for our parents. Why do we deny that we could end up needing help as much as they do today. The best gift an older parent can give to their adult children can be a funded LTC plan for the adult children. This way, the granchildren won't be facing the same caregiving issues the kids have while caring for the elderly parents now. Parents who are trying to leave an inheritance for their kids can use a small portion of their savings to obtain a very substantial LTC plan for the kids. This can lessen the burdens of hte next generation. Schedule with me to learn how
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