Ask Terry Questions Wealth Planning/Shielding – Taxation –

Wealth Planning/Shielding – Taxation –

By Terry Savage on April 06, 2024 | Financial Planning / Retirement

Terry – love listening to you on WGN! I have a couple of questions that relate to my fear of a possible long term care facility eating away from our investments. I do not have LTC insurance, nor does my wife. I somewhat cannot get it due to health issues. While I’m only 60, it is something that scares me. Is there specific planning or specialized attorney/financial planning professional for “elderly” topics to consider when retiring or planning for retiring….specifically to account for a possible LTC facility, taxation when tapping into non-ROTH funds, etc…..

Also today – I think you made a comment about not ever ‘giving away’ your money (i.e., to children) while you are alive……and I missed it if you said to instead have an ‘irrecoverable’ or ‘revocable trust’. I already have a trust set up but to be honest, I need to look to see what kind I have! I do not have a business so its just to cover personal assets.

Terry Says

You are at the “sweet spot” for finding a FEE-ONLY, FIDUCIARY financial advisor you can trust to discuss all those topics– from estate planning to long term care planning (you might qualify for a combo live/LTC policy).
Here’s how to get connected to someone you can trust — a matching system for carefully vetted Certified Financial Planners who are FIDUCIARIES, not trying to sell you something, no hidden commissions. REad this and try it,and let me know what happens!

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