Nickels and Dimes - Finding Financial Freedom

Are You Prepared for the Long-Term Care Needs of Yourself or Your Aging Parents?

Natalie Kime Episode 53

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In this solo episode of "Nickels and Dimes," host Natalie Kime discusses the crucial topic of planning for long-term care and living benefits for aging parents and oneself. She emphasizes the importance of proactive financial planning to avoid emotional and financial stress. Drawing from personal experiences, Natalie highlights the need for conversations about care needs, understanding the costs, and exploring funding options like long-term care insurance and Medicaid planning. She urges listeners to prepare legal documents and have open discussions with family members to ensure peace of mind and prevent potential conflic

  • Importance of planning for long-term care and living benefits for aging parents and oneself.
  • Emotional and financial stress associated with unexpected care needs.
  • Key questions to consider regarding future care and assistance.
  • Personal experiences related to family care and the impact of dementia.
  • Overview of daily assistance needs encompassed by long-term care.
  • Statistics on the likelihood of requiring long-term care for individuals over 65.
  • Breakdown of average annual costs for various types of long-term care.
  • Misconceptions about Medicare coverage for long-term custodial care.
  • Funding options for long-term care, including insurance and annuities.
  • Importance of proactive planning and open discussions about future care wishes.

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