Do I Need Long-Term Care Insurance?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Business, Investing

4.6 • 3.6K Ratings

🗓️ 9 May 2022

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, and George Kamel.

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:13.8	David is in Montgomery, Alabama.
0:16.6	Hi, David.
0:17.6	Welcome to the Ramsey show.
0:18.6	Good afternoon, gentlemen.
0:19.6	How you guys doing today?
0:20.6	Better than we deserve.
0:22.6	What's up?
0:23.6	Fantastic.
0:24.6	So I'm looking into a long-term care insurance for my wife's.
0:28.4	3555, actually, a both 55.
0:30.7	So probably need to wait another five years as you can recommend 60.
0:33.5	So I understand in that my question is, when do I consider her self-insured, as I think
0:39.4	what kind of on the cut line for considering herself self-insured or needing long-term care?
0:46.4	Yeah.
0:47.4	Well, self-insured always means you can take the hit for the expense without disrupting the
0:55.3	whole plan.
0:56.9	Okay?
0:57.9	So let's kind of walk that through.
0:59.9	The average nursing home stay in America is two and a half years.
1:06.4	Typically the typical scenario is 75% of the ladies outlive their husbands.
	...

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