The potential need for an extended time in long-term care (LTC) is a crucial retirement stewardship concern because of its significant financial implications. We have looked at the types of care, how Medicare and Medicaid, and some other programs fit, and in this third article in a 4-part series, we will look at LTC costs…
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The “Stewardship of Life” (Part One) – Long Term Care
We now know that older people are most susceptible to COVID-19 disease. We are also hearing about large numbers of deaths from COVID-19 in “nursing homes.” That is because the infection and mortality rate in such facilities is disproportionally high. My wife and I were discussing this, how tragic and sad that so many have died…
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Should Whole Life Insurance Be Part Of Your Retirement Plan (Part 2)?
In this article, we are going to consider what role, if any, whole life insurance might play in your retirement income plan. Although the death benefit is still in view, the focus here is on leveraging the cash-value (investment) component to help fund your retirement income stream. More and more retirement planning professionals are emphasizing…
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Should Whole Life Insurance Be Part Of Your Retirement Plan (Part 1)?
A reader recently asked me to take a look at a retirement planning (funding) method using permanent life insurance espoused by Nelson Nash in his book Becoming Your Own Banker. In addition to the life insurance benefit, the author discusses a “be your own bank” approach to funding major life purchases. He also recommends using permanent…
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