The range of expenses covered by long-term care insurance varies, and it is important to understand what exactly is covered by a contract under consideration.
WHAT IS OCCAM’S RAZOR? Occam’s Razor is a principle attributed to William Occam, a 14th century philosopher. He stressed that explanations must not be multiplied beyond what is necessary. Thus, Occam’s Razor is a term used to “shave off” or dismiss superfluous…
At some point, wealth may be sufficient to self-fund long-term care expenses, but reasonable individuals may still decide to include insurance in their plans as part of an overall risk management strategy.
I discuss two options for funding long-term care: self funding and Medicaid.
Many receive long-term care at their homes or at community centers or adult day care centers. Institutionalized living is not always required, and proper long-term care planning may allow one to remain at home longer than otherwise possible.
How likely is a person to experience a need for different types of long-term care? This is a challenging question and it is hard to find good answers.
You’ve probably heard the term evidence-based investing. In fact, you may have even read about it here. But do you know where the term comes from? Obviously, the key word is evidence, referring especially to the kind that has been peer-reviewed and…
Long-term care spending represents one of the most severe spending shocks that can impact retirees.
Roth conversions – the basic idea is that you take money from your traditional IRA, withdraw it, pay taxes on it, and move it to your Roth IRA. This means you will be paying more in taxes today. Why would you want to do that?
Some investors measure financial success by comparing their returns against popular benchmarks like the S&P 500 Index. It can be comforting to know how your investments compare to others … but there’s a catch. If you aren’t comparing your investments to similar…