This week, I enjoyed a great interview with Dr. Jay Zigmont with Childfree Wealth.

Their website is https://childfreewealth.com/

I learned that 25% of U.S. adults don't have kids. That's a huge part of our population that is underserved in the retirement planning community. Many planners consider that with our without kids, your plans should be similar, and that's simply not accurate.

When we dont have kids, we know we need to have a plan for long term care needs. Many parents presume their kids will take care of them, or they'll at least make sure they're taken care of. Childfree folks know that this is not an option.

If married and childfree, it's important to make sure that an extended care need like dementia or a stroke for one won't bankrupt the other.

If married or not, we all have an idea of what we really care about in regards to long term care needs. We need to dig in and ask how are we going to make sure that this happens?

• That I live in the place I want to live if I can't live alone
• That I get those little things that make me happy (for me it's cheesecake - I don't eat it now, but if I make it to 90, I want that to be my breakfast every day).
• That I have enough money to take care of myself gracefully - and don't end up with less than than Zero and on Medicaid

Jay's childfree clients know that they need a plan, and they create that plan - usually in their 40s, when it's most affordable and can be paid up long before retirement.

Jay takes well known planning concepts and turns them into childfree planning strategies.

Feel free to reach out to him at support@childfreewealth.com

Contact me if you are childfree or not. We can design your LTC plan together - diane@preparing4tomorrow.com

We need to start planning now, 30 years before we think we'll need help living.

It'a hard to believe that care could ever cost that much, but in 2001, when I started working in the LTC industry, nursing homes were $1000/month. People I spoke with thought that was so unfair.

Use Genworth's Cost of Care report to view projected future costs here https://www.genworth.com/aging-and-you/finances/cost-of-care Be sure to input 5% inflation growth to budget accurately.

Most of us would be happy if care for dementia or mobility concerns was only $1000/month.

In 1990, home care costs were about $11/day.

Getting old and needing help is not ever going to get less expensive, so we need a plan.

This week, I share the plan Maureen and I designed to create $250K annual LTC benefits in 30 years, when she is 80. She has enough income and assets to cover higher costs withoujt hurting herself or her family financially. Listen and learn about the plan she chose to protect her family and, even more importantly, her CHOICES.

Schedule with me to design your plan at https://calendly.com/diane-p4t/60min

If we want to make sure we can stay home when long term care is needed, we need a plan. We need to afford the care we want.

If costs of care continue to increase every year like they have been, this is not something most of us will self-fund without bankrupting ourselves or destroying family relationships.

The first thing we need to do is admit that we'll probably need help living at some point.

Bill Comfort with Certification for Long Term Care says, "If we don't die, wil live long lives. If we live long lives, we get old. And when we get old, we need help living."

We need to prepare for this and presume we will be the one who lives a long life. How are we going to get the care we need? Who will provide it? How will we pay for it?

Will we pay in dollars or with the physical and mental exhaustion of our family?

Let me help you prepare to live a long life successfully. Schedule with me at https://calendly.com.diane-p4t/30min

In other words, why shoud I trust the insurance company?

All insurance companies, and especially LTC companies are heavily regulated and watched closely by all 50 states.

States monitor complaints to ensure compliance. Regulators work with the consumer and company to assist with payments.

Often, regulators explain to consumers why a claim isn't being paid and advise the consumer what they need to do to complete the claim requirements.

Listen and learn how may ways the Elimination Period is defined by different companies. It's no wonder we get confused and frustrated.

All the more reason to work with a LTC Specialist like me who understands these key differences and can explain them clearly so you know what you are considering.

When you understand what you own, there won't be surprises later.

Let me help you design your plan. Schedule here https://calendly.com/diane-p4t/30min

We live in an "I want it now" culture except when it comes to planning for extended care needs.

Why do we feel the need to wait as long as we can to consider and design our LTC plans?

Once someone learns that there is a need for LTC insurance in some form, it takes 5-7 years on average for that person to contact someone who can help them purchase coverage.

I get that we don't want to plan for when something bad happens like we get dementia, have a stroke or need help getting through each day. But these things happen whether we are prepared for them or not.

We will receive care from someone no matter what happens. If we have a plan, we retain control of our choices when we do need help.

If we continue knowingly or unknowingly using the default plan of "spend all my money til I'm broke and then rely on the state Medicaid system", then we no longer can choose where we live. The state puts in the next available nursing home bed. This may or may not be a nice, clean, friendly place.

Why do we leavethis to chance?

Schedule time with me to prepare today tolive how and where you choose tomorrow

https://calendly.com/diane-p4t/60min

This week, Diana wants to know what she needs to do to be sure she can live out the rest of her life in her owm home.

I know we're all asking this question, because we want to stay home no matter what as well.

That really depends on how much support and assistance we can rely on from our family. Do they live nearby? If they say they will help us, are they actually able to do so?

If we own LTC insurance, how many hours of care will the benefits cover? If it's not enough for 24/7 care, how will the family be able to support us around the insurance paid hours?

These conversations have to happen now, before a care need shows up, so everyone knows their role.

If you'd like to add LTC insurance in some form to your plan, so you can help your family help you better, schedule with me to start a conversation https://calendly.com/diane-p4t/30min

Employers are seeing their employees reducing hours or leaving work to care for parents, spouses and other family members. They're searching for strategies to help keep employees at work..

Group LTC plans are again becoming popular, and they look different than they did in yesteryear.

Listen and learn what is available as an LTC worksite solution.

If you own a business or you are an employee of a business and want your employer to consider group LTC, contact me for information diane@preparing4tomorrow.com

Schedule 30 minutes with me to inquire https://calendly.com/diane-p4t/30min

In last week's episode, Diane shared a boatlod of questions we need ot be asking when planning for extended care needs (LTC needs).

This week we cover the questions that can't be answered until that need invades our family.

Although, we may not know what, when, where, or how long , we still need to plan early so we can be prepared for whatever happens.

How can we do this? Listen, learn, and schedule a meeting to discuss planning alternatives.

My calendar: https://calendly.com/diane-p4t/60min

Email me to receive a planning guide diane@preparing4tomorrow.com