How To Finance Long Term Care (Retirement Planning)
If you want to learn how to fit long term care into your retirement plan this video is you! A common question I get is, "Should I get long term care insurance?" This answer is, it depends. Personally, I recommend financing long tern care through your own personal savings and a well structured financial plan to get there. But, there are a variety of options that may suit you depending on your, unique circumstances. In this video, I explain the pros and cons to 4 long term care financing solutions:
1. Long term care insurance
2. Life insurance with a long term care policy
3. Using home equity or a reverse mortgage
4. Self insuring through personal savings
I hope this video is helpful, and if you are looking for more guidance in building a balanced financial plan, consider enrolling in my flagship course, Personal Finance Bootcamp: Build a Financial Plan in 7 weeks! https://financialplanningcourse.chisholmfinancialplanning.com/
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Timestamps:
00:00 – The 4 ways to solve long term care
00:36 – Standalone long term care insurance
04:25 – Life insurance policies
08:53 – Using home equity / reverse mortgages
12:21 – Self insuring
14:42 – Combining long term care finance methods
#longtermcare #retirementplanning #longtermcareinsurance
Chisholm Financial Planning & Investments is owned by Jenny Logan and is a registered investment advisory firm regulated by the Securities & Exchange Commission in accordance and compliance with US securities laws and regulations. Chisholm Financial Planning & Investments does not render, or offer to render, personalized investment or tax advice through any videos or other content on any social media platform to include YouTube. The information provided in these videos is provided without compensation and for informational and educational purposes only and does not constitute financial, tax, investment, or legal advice.
Copyright © 2023 Chisholm Financial Planning & Investments
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