AUTHOR: achnk53 on 11/27/2025 FIRST: baldscreen on 11/28/2025 | RECENT: Linda Grady on 11/28/2025
Comments
Thanks for your honest opinion about the product and your perspective. I was thinking with the baby boomers there would be more claims than premiums received, & that is just not sustainable.
I can see that could be a reasonable option for some because I see first hand how my sisters have 2 maids to take care of our 102 y.o. mom at her home 24/7 with what my late dad's investment for the past 10 years or so. In her country, this is quite affordable, maybe not here in the States.
This also speaks volume about how my late dad had planned to care for our mom because there is no social security, no pension, nor any LTC planning in their country.
Our primary home can be an inflation beater if you have much equity in it but not so much w the cars, or any thing with wheels on them. But in my investment assessment, I would exclude both.
When I was first started out investing, I have joined an investment club, and the 80s & 90s I also did about 50 DRIPS, some through ComputerShare or the stock own DRIP account. All was very, very well, then the dot com crash came, and over 6 months I lost about 1.5 million paper lost. It took me over 7 years to recover, but it had the DRIP programs to help with the recovery.
"... Chrissy will have no interest in re-balancing every year. " My spouse is also that way. I personally have 2 fears, one if I past first before her, or, if I become disable either physically or mentally. So I have set up a 'love letter' instruction & also advised my eldest daughter to take over if and when BOTH of us are disable. I have been developing a relationship with the Wealth Management advisor in our local Fidelity office, if she or our daughter do not feel comfortable w him, my other suggestion is my recommendation of a flat hourly fee advisor I have in my letter. Things can get complicated to think things through. PS: I thought Fidelity Contra Fund is a very extremely good investment but changing manager may not be any better. I couldn't get into it when I was working because it was closed to new investors.
So, help me understand, the CCRC setup will cover any LTC expenses or are those expenses would be coming out of your money you gave them? I like the CCRC idea if I would pass before my dearest spouse but with the aging baby boomers it may be very hard to get into one in Alabama, or in the South.
As a side note, traditional IRA as a legacy plan for your kids may not be a good idea. They would be subject to 10 years rule w taxation and they most likely in the peak earning years.
I am doing option 3. We have no debt, and our basic expenses covered w our SS benefits, we have set aside a brokerage account for this future needs that is about 7 figures because the markets are up so nicely.
Comments
Thanks for your honest opinion about the product and your perspective. I was thinking with the baby boomers there would be more claims than premiums received, & that is just not sustainable.
Post: How do you prepare for the long term care cost as retiree?
Link to comment from June 23, 2026
I can see that could be a reasonable option for some because I see first hand how my sisters have 2 maids to take care of our 102 y.o. mom at her home 24/7 with what my late dad's investment for the past 10 years or so. In her country, this is quite affordable, maybe not here in the States. This also speaks volume about how my late dad had planned to care for our mom because there is no social security, no pension, nor any LTC planning in their country.
Post: How do you prepare for the long term care cost as retiree?
Link to comment from June 23, 2026
We are invested in various types of REIT as an inflation buffer but because of the taxation issues we put them in our Roth accounts.
Post: What’s in your portfolio ?
Link to comment from June 22, 2026
Our primary home can be an inflation beater if you have much equity in it but not so much w the cars, or any thing with wheels on them. But in my investment assessment, I would exclude both.
Post: What’s in your portfolio ?
Link to comment from June 22, 2026
When I was first started out investing, I have joined an investment club, and the 80s & 90s I also did about 50 DRIPS, some through ComputerShare or the stock own DRIP account. All was very, very well, then the dot com crash came, and over 6 months I lost about 1.5 million paper lost. It took me over 7 years to recover, but it had the DRIP programs to help with the recovery.
Post: What’s in your portfolio ?
Link to comment from June 22, 2026
"... Chrissy will have no interest in re-balancing every year. " My spouse is also that way. I personally have 2 fears, one if I past first before her, or, if I become disable either physically or mentally. So I have set up a 'love letter' instruction & also advised my eldest daughter to take over if and when BOTH of us are disable. I have been developing a relationship with the Wealth Management advisor in our local Fidelity office, if she or our daughter do not feel comfortable w him, my other suggestion is my recommendation of a flat hourly fee advisor I have in my letter. Things can get complicated to think things through. PS: I thought Fidelity Contra Fund is a very extremely good investment but changing manager may not be any better. I couldn't get into it when I was working because it was closed to new investors.
Post: What’s in your portfolio ?
Link to comment from June 22, 2026
So, help me understand, the CCRC setup will cover any LTC expenses or are those expenses would be coming out of your money you gave them? I like the CCRC idea if I would pass before my dearest spouse but with the aging baby boomers it may be very hard to get into one in Alabama, or in the South.
Post: How do you prepare for the long term care cost as retiree?
Link to comment from June 22, 2026
Was the premium back then reasonable? Inflation-adjusted?
Post: How do you prepare for the long term care cost as retiree?
Link to comment from June 22, 2026
As a side note, traditional IRA as a legacy plan for your kids may not be a good idea. They would be subject to 10 years rule w taxation and they most likely in the peak earning years.
Post: How do you prepare for the long term care cost as retiree?
Link to comment from June 22, 2026
I am doing option 3. We have no debt, and our basic expenses covered w our SS benefits, we have set aside a brokerage account for this future needs that is about 7 figures because the markets are up so nicely.
Post: How do you prepare for the long term care cost as retiree?
Link to comment from June 21, 2026