Episode Summary:

In this episode of Navigating an Abundant Retirement Radio, Carol dives into the importance of long-term care planning and flexible protection for a healthy retirement. She outlines common challenges retirees face and discusses strategies to ensure financial security without becoming a burden on family members.

Key Takeaways:

- Long-term care is a critical aspect of retirement planning, and Medicare generally does not cover these expenses.

- Flexible protection for a healthy retirement focuses on three key elements: protecting your family, your choices, and your financial assets.

- Hybrid insurance policies offer an alternative to traditional long-term care insurance, providing flexibility and additional coverage.

- A proactive conversation with family members about healthcare directives and long-term care options is essential.

Quotes:

- "You want to continue deciding where you live and what kind of care you receive as you get older."

- "It's more than a maybe that you'll need some kind of care—it's a probably."

- "Retirement success often comes down to creating as many options as possible."

Timestamps:

- (03:39) The importance of flexible protection

- (07:08) Long-term care insurance and ADLs

- (10:23) Home healthcare vs. nursing home care

- (14:51) Hybrid policies and underwriting process

- (16:54) Final thoughts on flexible protection

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Connect With Carol:

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