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LONG-TERM CARE PLANNING

Protect Your Retirement From the Unexpected

A retirement strategy is designed to provide for decades of living. But what happens if you or your spouse eventually need help with everyday activities or require ongoing care? Long-term care planning is about preparing for that possibility before it becomes a crisis. At Transparent Retirement Group, we help families understand the potential financial impact of long-term care and evaluate strategies for addressing that risk.

It's About More Than Nursing Homes

Long-term care can take many forms and may be provided in different settings, including:
  • Care in Your Own Home
  • Assisted Living
  • Adult Day Care
  • Memory Care
  • Skilled Nursing Facilities
  • Other Supportive Care Services
The appropriate type and level of care depends on an individual’s needs and circumstances.

How Would You Pay for Care?

One of the most important questions in retirement planning is simple:
If you needed extended care, where would the money come from?
 
For some families, the answer may be existing income and assets. Others may want to transfer some of that financial risk through insurance or other planning strategies.
Depending on your circumstances, solutions may include:
Each strategy has different costs, benefits, limitations, eligibility requirements, and tradeoffs.

Protect More Than Your Assets

Long-term care planning isn’t only about money.
It’s also about considering who would provide your care, where you would want to receive it, how it could affect your spouse or family, and how you would pay for it.
Planning ahead can give you more options than waiting until care is already needed.
 
Build Long-Term Care Into Your Retirement Strategy
Let’s identify your potential long-term care exposure and determine whether it makes sense to build a protection strategy into your overall retirement plan.
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