Most families discover too late that Medicare doesn't cover long-term care, and that shock can be financially devastating. In this episode, hosts Suzie Lind and MB Roberts sit down with certified financial planner Leona Edwards to shatter dangerous myths about paying for senior care and give you practical tools to prepare before crisis hits.
Learn the critical differences between Medicare and Medicaid, why long-term care insurance policies are changing and what hybrid insurance options actually work. Leona explains how to compare home care versus assisted living costs, explores reverse mortgages as a last-resort option and shares how to find a trustworthy financial advisor.
The conversation tackles the emotional difficulty of talking about money with family, offers specific questions to break through resistance and provides a simple framework to assess your situation. Whether you're planning for yourself or caring for aging parents, this episode gives you the knowledge to avoid being blindsided by costs when you're most vulnerable.
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CHAPTERS
- 00:00 — The Financial Surprise That Hits Every Family
- 01:09 — Meet Financial Planner Leona Edwards
- 06:07 — The Real Cost of Senior Care
- 12:25 — Why Medicare Won't Save You
- 15:26 — Long-Term Care Insurance Truth
- 19:05 — From Home Care to Assisted Living
- 24:11 — Finding the Right Financial Advisor
- 31:12 — Breaking Through Family Money Silence
- 37:02 — When Parents Shut Down the Money Conversation
- 40:13 — Your Care Cost Reality Check
RESOURCES
- Center for Aging
- Free resources and information about senior care options
- Mariner.com
- Medicare.gov
- Official information about Medicare coverage and limitations
- National Association of Personal Financial Advisors (NAPFA)
- Find fee-only financial planners in your area
- Certified Financial Planner Board of Standards
- Verify advisor credentials and find CFP professionals