Tips for Planning Your Retirement: Plan for Long-term Care Assistance

LONGMEADOW, Mass. (Mass Appeal) - There are ten things you should know when planning your retirement. Each week we'll share a new tip with you. This week, Dylan Bond, Owner of Bond Financial Services , explained part four, planning for long-term care assistance.

Bond Financial Services
171 Dwight Rd, Longmeadow, MA 01106
info@bondfinancialservices.com
(413) 754-4747
BondFinancialServices.com

10 Things You Should Know When Planning Your Retirement Income:

Tip #1. Plan for a Long Life
Tip #2. Health Care Expenses Will Increase
Tip #3. You'll Need a Housing Plan

Tip #4. Plan for Long-term Care Assistance

• Assisted living averaged $39,000 a year and nursing homes average more than $70,000 a year per person.
   
• Medicare pays for acute care, not long-term residency.
   
• Medicaid pays for long-term care but requires that you "spend down" your assets before coverage kicks in.
   
• Individuals who delay buying long-term coverage are typically considered high risk, and can expect to be denied coverage or charged sky-high premiums.

Upcoming Investment Seminars - "7 Fundamental Strategies to NOT Outlive your money":
Designed for people 50 and older with questions about retirement income planning.

Wednesday, February 27th
La Cucina di Hampden House
1 Allen Street, Hampden

For more information or to make a reservation call (413) 246 - 7608.