Don’t Call Yourself a Retirement Planner if You Don’t Address Long-Term Care


Don’t Call Yourself a Retirement Planner if You Don’t Address Long-Term Care

People have the tendency to look at retirement and long-term care as two separate issues. Why? Because they tend to look at long-term care as a place – a nursing home, assisted living, retirement community, etc. But it’s more of an event – an event that could wipe out your clients’ retirement savings.

I would argue that the largest risk to a retirement plan is a long-term care event. So you can’t call yourself a retirement planner if you’re not addressing this risk. You need to put the pieces together.

In a webinar I did with Tim Ash, we used our software to literally show the impact a care event will have on retirement plans. It’s astounding. The good news? This software can also help show the impact you can make by having a plan in place.

Just Ask

After you watch the webinar, consider asking your clients a few questions during your next retirement planning appointment:

  • Have you considered the tax consequences of liquidating an asset for an emergency?
  • Are you aware most policies include care coordination to help with a written plan of action?
  • Can the returns you get from today’s assets really outperform the leverage of an insurance policy?

Keep Talking

Yes, you have plenty to talk about during your client meetings. And you might feel like you don’t have time to add one more item to the agenda. Stop looking at long-term care as a separate issue. If you do nothing to address it, it’s a big risk to your clients’ portfolio.

For more ideas on approaching the conversation, download your free long-term care discussion guide.

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And, if you haven’t already, sign up for our free educational email series on long-term care.

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