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Retirement Answer Man

Will I Need Long-Term Care? Reviewing the Statistics with Christine Benz from Morningstar

Retirement Answer Man

Roger Whitney, CFP®, CIMA®, RMA, CPWA®

Education, Investmentmanagement, Saving, Self-improvement, Careerplanning, Retirement, Business, Lifeplanning, Investing, Retirementplanning, Financialplanning, Retirementpodcast

4.61.2K Ratings

🗓️ 5 February 2020

⏱️ 37 minutes

🧾️ Download transcript

Summary

Long-term care is an issue that is really hard to grapple with and talk about. Yet it is an important one that we all need to think about. You may have dealt with it with your own parents or you may be dealing with it now. On this episode, Christine...

Transcript

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0:00.0

Long-Term care is one of those critical issues that is really hard to grapple with and talk about.

0:08.0

That's what we're going to try to cover this month on the Retirement answer man show.

0:13.0

Welcome to the show.

0:16.0

My name is Roger Whitney.

0:18.0

I'm excited to have you here.

0:20.0

And I'm gonna say, I am excited to be talking about long-term care for the entire month

0:26.6

Not because it's some aspirational subject, but the theme of the show is we don't want to just survive retirement. We want to actually rock retirement and make the most of this only life.

0:37.7

And that's going to include times when we're down, when we need a little help.

0:43.5

It could be for a short period of time.

0:45.0

It could be for a very long period of time,

0:47.0

so it's really important.

0:48.0

And recently, and this is just in the last, I don't know,

0:51.0

three months or so, I've had a client go through long-term care, right at the end of life, and pass. I've had a client that is facing this in their 50s with a spouse.

1:05.1

And when I was in Atlanta in early December,

1:08.0

my friend who volunteers at a long-term care facility

1:12.2

and goes there every single week. I went with him to go meet his friends,

1:18.0

five or six people that he checks on and has conversations with every week, and it was sobering.

1:25.0

There are people that you can converse with,

1:27.0

just needed some assistance all the way to people that really couldn't

1:30.1

communicate with at all.

1:31.4

It was sobering.

1:32.3

This is an important issue not just for you and your later years in retirement,

...

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