New LTC Discovery

I just found a Long Term Care Insurance plan where you basically pay for the first 18 to 24 months of benefits upfront. Then when the time comes to take advantage of it years later you get Lifetime Benefits - Not 18 to 24 months.

Lifetime benefits is a big deal in case your not aware of how much assisted living is. 2 years of assisted living could wipe out your retirement.

For example:

Assisted Living costs $5,000/month

18 months costs $90,000

If you’re in your early to mid 50s you could pay that upfront for $90,000

Why is that a BIG DEAL?

Because, you get Lifetime Assisted Living Benfits and only paying for 18 Months

Solution: Partition off part of your Retirement Savings now and Pay for your entire Long Term Care. The rest of your savings can be used for income.