Why Can’t I Spend my Money on Fun?

Aug 27, 2019

A recent Wall Street Journal cartoon featured a gentleman visiting his financial planner.  In the cartoon, he asks the planner, “Why can’t I spend some of my money on fun now?” Often, retired people are afraid to spend money on fun or travel because they fear the catastrophic costs they would face if one of…

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Why Medicaid Long Term Care is a Bad Choice

Jul 20, 2019

Many people don’t realize that, in addition to traditional health care, Medicaid actually pays for most long-term care (LTC) in the United States.  In fact, less than 40% of Medicaid dollars are used to pay for traditional health care.  The small portion of Medicaid recipients (just over 20%) whose long-term care services are paid for…

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What Can I Do About Long Term Care?

Jun 29, 2019

Long term care is very expensive. Few people are prepared for the cost when they determine they need care.  Fortunately, there are ways to deal with the bills even if you do not have much money. Medicaid requires beneficiaries to spend all savings and other assets down to impoverishment before they will pay for care.…

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How to Use Untaxed Dollars to Cover Long Term Care

Apr 18, 2019

You may have heard that Long Term Care insurance (LTCi) premiums can be tax deductible.  But (and there is always a but), there are restrictions. LTCi premiums are fully deductible on your Wisconsin income taxes, regardless of whether you itemize taxes, how much or how little your taxes are, or whether you have enough other…

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“How to Deal with Long Term Care Financially” Seminar Scheduled for March 19

Mar 11, 2019

FREE LTC Seminar on March 19 @ 1:00 pm – 2:00 pm When: Tuesday, March 19 Where: Allouez Village Hall, 1900 Libal Street Topic: How to Deal with Long Term Care Financially Presenter: Romeo Raabe, Owner of the Long Term Care Guy What will you learn? The thought of paying for long-term care can be daunting, but…

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Most Retirees Concerned About LTC Costs

Feb 11, 2019

“Seventy-two percent of retirees are concerned about long-term care expenses for assisted living services, nursing home care and home healthcare, according to a new national survey, making such expenses the most frequently cited spending concern by respondents.” — T. Rowe Price Will you need to move in with your children someday for care?  Have you…

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7 Myths About Caregiving Costs

Dec 23, 2018

This article by Rachel Hartman was published on line by U.S. News & World Report on December 12, 2018.  It is an excellent overview of several common myths about caregiving costs.  The link to the article is here. The financial aspects of caring for an aging loved one are often a grey area. It can…

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Happy Holidays – How is Grandma?

Dec 19, 2018

While your family was together at Thanksgiving, was there evidence that older family members are not taking care of themselves as well as they could be or used to? Perhaps your loved one is not driving as much as before, or perhaps should not be driving at all. Are bills piling up unpaid?  Is hygiene…

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What’s it Really Like Paying for Long-Term Care

Dec 17, 2018

As written by Michelle Singletary and published in the Washington Post on November 26, 2018 One of my favorite Spock quotes from the Star Trek television series is, “Live long and prosper.” Who doesn’t want a long life, right? But what if the longevity means spending down your money for long-term care? And that’s if you’ve…

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