A couple of weeks ago, Sheri and I attended a dinner at a restaurant in Dallas. We were invited by a friend of mine, Michael DeGroat, a fee only financial planner with Ameriprise. Michael believed we’d enjoy the dinner, as well as hear an interesting talk from the special guest speaker. He was absolutely right!
The Dallas Morning News published an interesting article on long term care (LTC) insurance over the past a few days ago. It was an excellent reminder that LTC insurance should be a part of everyone’s financial planning, especially baby boomers. Boomers are retiring at a rate of 10,000 people a day and this number is projected to continue for the next 19 years. That’s over 3.6 million people a year!
Long-Term Care – care that provides assistance for a people who are unable to perform one or more Activities of Daily Living (ADLs-Bathing, Continence, Dressing, Eating, Toileting, and Transferring) and/or someone who has a Severe Cognitive Impairment.
I received an email from a friend and client of mine a couple of weeks ago. She’s a single executive in her 40’s at a company in Dallas and she wanted to meet for coffee to discuss long term care insurance. Her email contained an amount of coverage she wants to have, so I gathered the information I needed to construct a quote to help guide our discussion.
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