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Hello everyone and welcome to the Big Picture Retirement Show, where we deliver insight

for what you need to know for a meaningful and successful retirement. If you are

planning for or living in retirement, this is the show for you. I'm Devin and John Ross. The friendly

co-host is back today. Howdy. Hey, John, so I've seen some reports out there that credit scores are not important. They said credit scores are not important. You don't need to worry about them anymore.

You know, I have told people that. Have you? I have. Oh, goodness gracious.

Man, did I just blow your whole deal right there? Right there. I had this checklist I was going to go down where I was about to

throw that opinion under the bus and then you presented that as your own opinion. So I just,

yeah, now we need to develop this a little bit. All right. So let me give you some facts. I'll give you

some background. Please do. Educate. I've got the children of a gentleman. He's been in his 80s. He's had a stroke. He has a few resources,

right? He has a house. He has a car, maybe a little bit in a retirement account, maybe even a little

cash, but not much. He has had a stroke. It's catastrophic. He is going to require

24-hour care at this point. Their family is looking at long-term care in a nursing facility.

In fact, he's already in the nursing facility for rehabilitation. But, of course, under Medicare,

you get 20 days paid for by Medicare, 80% for the

next 80 days. If you have a supplement, it covers the other 20%. So theoretically, depending on your

Medicare supplement provider, you could potentially have about 100 days in long-term care.

And after that, you're going to get to private pay.

You know, depending on where you live, that can run anywhere from on the low end, $130,

$40 a day up into the $300 or $400 a day.

And there's only two ways to pay for that.

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