• Olympic Golden Retirements Facebook

©2020 Olympic Golden Retirements LLC

This information is designed to provide general information on the subjects covered.  Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement.  Please note that Olympic Golden Retirements LLC and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney. Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer.  Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims-paying ability of the issuing company and are not offered by Olympic Golden Retirements.

Long-term Care Planning

 

We Hope You'll Never Need It, But You'll Be Happy You Have It

According to a new study, over half of Americans 65 and older will need long-term care assistance with the activities of daily living at some point.  Costs of long-term care can range from $3,500 per month for in-home skilled nursing, to upwards of $9,000 per month for a private room in a nursing facility.  Unfortunately, many individuals who find themselves in need of extensive long-term care pay more than half of the cost out of pocket, as Medicaid and private insurance only cover a small portion.

 

Greater life expectancy coupled with the skyrocketing costs associated with high-level supplemental care make long-term care one of the greatest threats to your retirement income. The government can, and will, force you to utilize your CD’s, Social Security, pension checks, investments, IRA’s, and just about every other asset you own to pay for long-term care.  

 

When developing a comprehensive retirement plan, mitigating the risk of long-term care expenses is crucial.  Our family knows first-hand, long-term care isn’t just for you, it’s really for your loved ones. Caring for an ill spouse or parent can take its toll, both financially and emotionally.  Our team of specialists will work with you to create a plan that will free your family from the worry of struggling to pay for care.