@retiresmarttony: Most people are buying way too much long-term care insurance 💸 Here's what the data actually shows: The average nursing home stay is only 22 months—not the 5 to 10 years most policies cover. If you have over $1 million in net worth, you can typically self-fund the first year or two of care from your existing assets without touching your core retirement portfolio. Those inflation riders that insurance agents push? They usually increase your premiums by 30-50% without any guaranteed return. You could invest that extra premium money and potentially outpace the inflation protection they're selling you. For higher net worth families, a smarter strategy is often a shorter benefit period with higher daily coverage. This covers the catastrophic risk without overpaying for coverage you statistically won't need. Insurance should protect against the worst-case scenario—not insure every possible expense. For help creating the right long-term care strategy for your situation, follow @RetireSmartTony for more retirement planning insights. Slalom Wealth Management is a registered investment adviser. This platform is solely for informational purposes and is not offering advisory services or sales of securities. Investing involves risk and possible loss of principal capital. Comments by viewers and/or recognitions are no guarantee of future investment outcomes and do not ensure that a viewer will experience a higher level of performance or results. Public comments posted on this site are not selected, amended, deleted, or sorted in any way. If applicable, certain editing of personal identifiable information and misinformation may be deleted. Slalom Wealth Management is a registered investment adviser serving families that are preparing for retirement or have recently retired. #PersonalFinance #retirement #longtermcare #insurance #retirementplanning
