$400k is a Good Long-term Care Target in Retirement (accessibility + tax-free legacy money)

(don’t forget to checkout the video of this blog too)

The one big risk in retirement is having the bulk of your retirement income eaten up by a long-term care event.

This is the one risk that can potentially wipe out a perfectly funded retirement plan.

This is why having a game-plan for long-term care is important.

But long-term care insurance is so expensive, right⁉️

Well, I think not having it is MORE expensive‼️

The good news is that there are ways to protect yourself against long-term care without giving up complete accessibility to your money.

You can also protect against long-term care while simultaneously planning to leave a tax-free legacy to your loved ones.

But how much long-term care is enough⁉️

I’ve talked to people paying over $20,000/month for a parent needing full time care…

So it’s expensive…‼️

Incredibly.

And it’s always a question of how much risk do you want to take off the table⁉️

Transferring some of the risk to an insurance company is a great way to protect your retirement assets.

This can also help ensure that you can still leave some money to your loved ones (if you so desire).

That’s why $400k is a good target to aim for in your early 80’s.

This gives you a $100k income stream for at least 4 years, which is about the average cost and a bit longer than the average claim.

This takes a lot of the risk off of the table for your retirement, but what’s really nice is that you can do it for pennies on the dollar.

If you’re in your 50’s or early 60’s you can park $100k (or a bit more) with an insurance company and have that target met…

So you’re essentially quadrupling your money with the added benefit of leaving a $400k tax-free benefit to loved ones (if you don’t happen to need long-term care).

All while still having access to that money if you REALLY need it.

Let’s chat 💬😎