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Preparing For Tomorrow podcastAuthor: Diane Stoddart, Certified Long Term Care Consultant, CLTC
Diane Stoddart, Certified Long Term Care Consultant, will show you how to protect your family and loved ones from the financial, physical and emotional burdens and consequences when long term care is needed. In each episode, Diane will help you to navigate through long term care concepts, terms and options and to discuss what strategies are available that can best protect both your family and your nest egg. We will invite guests to sit with us and share ideas regarding various parts of our lives as they relate to long term care planning. Language: en Genres: Business, Education, Marketing Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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I should have done this when I first thought of it
Episode 24
Thursday, 2 April, 2026
Don't let your 50 year old kids regret not having planned for future extended care needs when they first thought of it. A first question I ask when meeting with someone is "What made you decide to look into LTC planning now?" Far too many reply with some form of having thought about this years ago, but for whatever reason they came up with, they decided to wait. Now, the plans we're considering cost a lot more at 70 than they did at 50. Or maybe they can't health qualify for the plan they want. You must encourage your 40, 50 and 60 year old children to plan now, while they can be approved by more companies, and while the rates are manageable. This week, we share a client who is buying a plan for her daughter because the family knows the value of LTC insurance after seeing the husband/dad's LTC plan pay over $200,000 over 24 months, protecting the famly's wealth and emotional well-being. Two clarifications - 1) Audrey did not keep $46,000 of the RMD because she did have to pay taxes on the withdrawal. 2) Lindsey's plan's benefits wil increase by 3% annually. She doesn't have to wait until the 10th payment to see increases. Schedule with Diane to design your plan here View current and projected costs of care (use 5% inflation) where you live at https://www.carescout.com/cost-of-care
