Who Takes Care of You When You Can't? Long-Term Care Planning with Scott Barnes, CFP®, CLTC®, Ep. 147

Childfree Wealth®

Content provided by Dr. Jay Zigmont, CFP® & Bri Conn, Dr. Jay Zigmont, and Bri Conn. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dr. Jay Zigmont, CFP® & Bri Conn, Dr. Jay Zigmont, and Bri Conn or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

7d ago 31:35

MP3•Episode home

Long-term care is one of the most complicated and overlooked parts of financial planning, especially when you're Childfree. Without kids to step in, who actually takes care of you when you can’t? In this episode, Dr. Jay sits down with Scott Barnes, CFP® and CLTC®, to explore what care really costs, what insurance does (and doesn’t) cover, and how to start building a plan you can trust.

We'll cover:

[1:21] Talking to your partner or planner about future care

[2:41] Why Medicare won’t help and Medicaid only steps in once you’re broke

[5:07] How much to set aside if you plan to self-fund

[6:28] When it makes sense to consider long-term care insurance

[12:08] Who qualifies for coverage and when to apply

[14:47] What insurers look for and how to avoid being denied

[17:59] Why Medicaid beds are hard to find in nicer facilities

[20:14] What to consider if you never end up using your coverage

[22:34] The consequences of waiting too long to plan

[25:05] What to do if you don’t qualify for insurance

[26:48] The difference between standalone and combo long-term care products

[27:38] What to watch out for when speaking to insurance brokers

This episode also includes a sneak peek at Childfree Trust®, a new service launching soon to serve as your power of attorney, executor, or trustee if you don’t have anyone to fill those roles. If you’ve ever wondered how to make long-term care decisions when you're solo, this one’s for you.

Mentioned in this Episode:

* Childfree Trust waitlist: https://childfreetrust.com/

* Schedule your Childfree Wealth® Checkup: https://Childfreewealth.com/schedule-a-checkup/

* Read more about long-term care: https://childfreewealth.com/resources/long-term-care-childfree/

* Get a quote for long-term care insurance through LLiS: https://allis.llis.com/quoterequest

* Dr. Jay’s Book "Portraits of Childfree Wealth": https://a.co/d/e4vLB2v

The Childfree Wealth Podcast, hosted by Bri Conn, CFP®, and Dr. Jay Zigmont, CFP®, is a financial and lifestyle podcast that explores the unique perspectives and concerns of Childfree individuals and couples.
Like the show? Leave us a rating & review!
If you want to join the conversation, email us at [email protected], follow Childfree Wealth® on social media, or visit our website www.childfreewealth.com!

Join our newsletter HERE.
Schedule a meeting with a Childfree Wealth Specialist® HERE.

Instagram: @childfreewealth

Facebook: @childfreewealth

LinkedIn: @childfree-wealth

YouTube: @ChildfreeWealthPodcast

Disclaimer: This podcast is for educational & entertainment purposes. Please consult your advisor before implementing any ideas heard on this podcast.

165 episodes

#Trading #Society #Business #Dr. Jay Zigmont, CFP® #Dr. Jay Zigmont #Childfree #Childless #Podcasting Education #Personal Finances #Investing #Child Free #Wealth