You’ve spent years putting money into your IRA, planning for the day it would help pay for retirement. But have you thought about what happens if some of that money needs to pay for care? Perhaps you’ve watched a parent need help at home. Or you and your spouse have talked about protecting each other financially if one of you needs ongoing assistance. You may have wondered whether the money you’ve already saved could help you prepare. Yes, you can use money withdrawn from an

I hope you’ll join me for my next free webinar on July 28th at 7 pm Eastern. I’m repeating a topic that was very popular, The Four L’s of Long-Term Care Insurance, where I’ll explain how long-term care insurance works and break it down in terms that are easy to understand. Here is a preview of the Four L’s. The first “L” is liquidity. A long-term care insurance (“LTCI”) policy provides access to tax-free funds if care is needed. This can be huge if the need for care arises

In Part 1, of Long Term Care Insurance 101, we covered what long-term care is, why it can be so expensive, and how a long-term care insurance policy works to protect you and your family. Now that you understand the basics, two questions naturally follow: Is LTCI right for me, and if so, when should I act? The answers come down to your finances, your health, and your age, so let's walk through how to think about each one. WHO SHOULD GET LTCI? LTCI is designed to protect a port

A long-term care policy provides leverage – making your dollars go farther- and liquidity – a readily available, dedicated source of funds when care is needed. This can make a big difference for you and your loved ones physically, financially and emotionally.