Preparing For Tomorrow podcast

Many have been advised by a financial planner, estate planning attorney or other professional that they have enough assets to "self-insure" future LTC needs.

The question is not "can I afford it?" but "Is this the best use of assets to fund future care needs?"

This episode is full of questions you should be asking yourself and your advisors if they tell you you can afford to self-fund.

Listen and schedule some time with me to consi...

This week, I'm sharing what I learned about public LTC funding in Germany and how it's managed.  Their national/local public funding initiative is alreaday underfunded by taxes, and the aging population there is expected to increase by 37% over the next 30 years.  

This is miniscule as compared to our aging population in the U.S.  

We need to learn from our past mistakes as well as from what other countries are attempting in this a...

This is an episode from 2020 when I interviewed my travel advisor about COVID or other family health issues interrupting travel plans. He created the best 25th anniversary trip to Europe we could have imagined!

Contact him at c.palogruto@cruiseplanners.com to create your most memorable vacation

We find differences in planning for vacations and planning for our LTC needs.  We learn from Carmen Palogruto with Cruise Planners that the...

This week, we're describing who may consider different types of LTC planning strategies and why.

Stand-alone/traditional LTC  vs. Hybrid Life/LTC vs. Hybrid Annuity/LTC.

All provide tax-free benefits for extended care needs.

Thank you to https://buddyins.com/ team for creating easy to understand documents that agents can share with their clients.

Listen and consider which category of coverage can fit your needs and financial struct...

In our third week with our couple in their 80s, we consider options to obtain the most LTC benefits from annuities.

If you already own annuities, check for a Chronic Illness rider or LTC rider.  If there is one, read it carefully as different rules apply to access enhanced benefits for care.  If you need help understanding your rider, ask me for guidance here

Some pay the LTC benefits tax-free and some don't.  

Some require your ne...

Last week, I shared how not having a plan can create chaos throughout the whole family when long term care is needed.

This week, I used the same need and family but added LTC insurance as a tool to help pay for care expenses.

Listen and learn how helpful even a small plan can work to make life a little less difficult during a very difficult time.

Then schedule some time with me to design your plan here

See current and projected cos...

We're getting bad news from what seems like every direction these days. Governments and media are all talking about wars and destruction.

But this is not new.  We've been through these kinds of events before, too many times, and we're still here and moving forward.

We can't let panic, wars and market crashes control our choices.  These thnigs happen without our input.

We can control our clarity, courage and conviction to stay on co...

Hello all, 

I recently had cataract surgery in both eyes, and my eyes get tired if I look at the computer too long.  I need to take breaks while recovering.

Instead of discussing shared and individual LTC annuities this week, I need to share an episode that was aired last summer.

This will remind you how LTC annuities can help both protect your family if you need extended care and also eliminate all those gains on your non-IRA an...

After reviewing planning strategies for hybrid or linked benefit LTC plans, this week we are comparing shared and individual traditional or stand-alone LTC plans.

Yes, there have been rate increases on these plans, but over the last 20 years or so, traditional LTC plans have gotten much healthier.  Listen and learn how.

When funding using income or on a budget, these plans can help families afford to get through an extended care ne...

Anna & Marty compare shared hybrid life/LTC plans with separate LTC plans for each of them.

It's a matter of preference and goals.

The LTC and death benefit are directly related, so plans with higher LTC benefits have larger death benefits. 

The death benefit acts as a return of premium if care isn't needed.

The key differences in shared and individual plans is who can use the LTC benefits and for how long, who can be beneficiary, ...

This week, Jen asked if she and her husband can own a long term care plan together and share the benefits with each other.

She asked what happens if one person uses all the benefits.

And what happens if neither of them need extended care services.

She wants to know if it would be better to have two separate plans or share one and can they be each other's beneficiary.

She also asked if this is the same as LTC Partnership.

Listen and...

This week, we need to pay attention that LTC is not just a women's issue.  It used to be more focused on women because we live longer and are more likely to live alone when help is needed.  

Today, with so many divorces, we have a lot of single men who will also be living alone when help is needed. 

But men are the providers for their kids and familiues.  There is no time to consider that you won't be providing.

LTC insurance helps...

This week, Diane shares what she learned while attending the 2025 Genworth LTC Symposium "Sustainable Solutions:  The Future of Long Term Care Financing".

We all agree on the problem and wonder how long it will take for all parties (public & private) to agree on a solution.

The links below provide info on who is supporting the Well-Being Insurance for Seniors to be at Home (WISH) Act.

Please reach out to your Congressmen/women and ...

Government is talking about cutting Medicare and Medicaid funding while costs of care are increasing.

Dementia used to be considered a mental defect, and people were hidden from the rest of society and not talked about publicly

Today, we know tis is a disease that needs to be managed. We also know that younger people are developing memory concerns.

The plus is that we're not afraid to talk about it anymore.

The negative is that we'...

This week, I interviewed Mike Simenstad, an LTC veteran with 34 years of experience working for several LTC carriers and distributors.  He currently works for National Guardian Life (NGL), a traditonal LTC company across the United States.

Mike, and others in his role help me and other LTC specialists to be able to work smarter for our clients.  We all work together as a team to find the best solution for each family.

Mike answers ...

We often hear from sons and daughters who want to buy LTC coveeage for a parent.  This could be to preserve a family home, to avoid Medicaid, or because they watched their parents care for their own parents for several years.  They don't want to go through that again.

This works if the parent is still healthy enough to be approved by an insurance company.

Different kinds of planning strategies are offered by different companies up ...

This week is about tax deductions and tax savings with LTC insurance.  Individuals and business owners often overlook the tax advantages that a long term care insurance plan offers.  

Listen and learn who can use what kind of tax planning when funding their LTC plan.

Disclosure: I am not an accountant or tax advisor.  I'm simply sharing what tax saving strategiesa are available.  Consult your CPA or tax advisor for specifics to you...