How Much Should We Invest for Long-Term Care?
Ramsey Everyday Millionaires
Ramsey Network
4.6 • 3.6K Ratings
🗓️ 8 April 2022
⏱️ 5 minutes
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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. |
| 0:12.9 | Bill and Traverse City, Michigan. |
| 0:15.1 | Hey, Bill, what's up? |
| 0:17.1 | Hey, Dave, how are you? |
| 0:20.0 | Better than I deserve. |
| 0:21.0 | How can we help? |
| 0:22.6 | What dollar amount should we have set aside for long-term care? |
| 0:28.5 | And we're just wondering if we're going to make it with our current finances. |
| 0:33.8 | What's your net worth? |
| 0:35.8 | $2.8 million, not counting real estate. |
| 0:39.6 | You made it. |
| 0:40.6 | You're good. |
| 0:42.1 | You made it. |
| 0:43.1 | Good. |
| 0:44.1 | So go nursing home shopping in Traverse City and find the highest in the lowest and one |
| 0:50.7 | you can reasonably do. |
| 0:53.1 | Also talk to some in-home care specialists that will furnish around the clock care in |
| 0:58.1 | your home, which you have enough money to do that instead. |
| 1:00.7 | And sometimes not even as much as a nursing home. |
| 1:05.0 | And here's your averages. |
| 1:06.9 | The average nursing home stay in America is 2.3 years. |
... |
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