“Worried About Long-Term Care Expenses? Let’s Do Something About It.,” by Christine Benz, Morningstar

“Given that just 7 million people are covered by long-term-care insurance in the United States today, and there are more than 75 million over age 60, according to the 2020 U.S. Census, that’s a lot of people who are probably either worrying a little or a lot about what long-term-care expenses might mean for their retirement plans. For those self-funders, I like the idea of creating a dedicated long-term-care bucket that is separate from the spendable portfolio. Earmarking a portion of assets for long-term care can provide valuable peace of mind and also gives them permission to spend (or gift) at a reasonable rate from the remaining portfolio. If the retiree doesn’t end up using the long-term-care bucket, it can pass to heirs and/or charity.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

So now we’ll need a bucket for life, health and auto too? Wrong kind of “bucket list.” Let’s just get LTC right instead. Read “Long-Term Care: The Problem” and “Long-Term Care: The Solution.”