| You’re Going To
Need Long Term Care
“
Don’t give me LTC give me TLC”
In the twilight years of our lives we may need tender
loving care. We can be grateful that we have come this
far…through the years reaping the rewards of a
long life span that now for some continue past 100.
And, now the greatest financial risk is the cost of
Long Term Care. We know the cost is going to soar from
the sheer numbers who have lived long, worked hard, and
helped America into a greater nation.
Our longevity has rewarded us to a point where we now
see our children reaching their Golden Years and our
Grandchildren following very closely behind.
Two generations, approaching three generations in retirement
brings about another great challenge as the number of
people in retirement more than doubles to 80 Million.
It will bring about employment opportunities; the positions
vacated by the retiring baby boomers, the building and
constructing of Retirement Villages and Long Term Care
Facilities with properly trained administrative and medical
and staffs. Even the supply channels will open new opportunities.
It’s a new frontier of opportunity.
Retirement Villages, Assisted Living Facilities, and
Long Term Care Facilities can provide the tender loving
care needed during our twilight years.
The purpose of this chapter is to help you manage the
cost of Long Term Care so that you live with dignity
and pride during your twilight years.
We’re reminded constantly by the Wall Street Journal,
The Boston Globe and the likes that 70% of all women
and 50% of all men over 65 will spend time in long term
care. They serve as a constant reminder that the average
cost is now approaching $50,000 annually and the average
stay is 2 ½ years.
We men like to think that we are tough. That’s
the reason only one out five of us men will spend time
in long term care compared to 7 out of 10 women who will
need long term care.
But…we men know the truth! The truth is women
are tougher and they take care of us men and when they
need care, we men are gone.
Let’s take a look at some ways and better ways
to pay for TLC.
Money in the Bank
The Average Cost is now approaching $50,000. That means
we need $125,000 in the Bank. At the rate of $50,000
annually it’s gone In 2 ½ years.
Long Term Care Insurance & Money in the Bank
Take the interest from the Bank Account, pay income
tax, and buy a Long Term Care Policy.
Long Term Care and Annuities
Transfer $24,000 into an Income Annuity generating a
tax-favored income to pay Long Term Care Premiums. I
recommend a 10 year to life income option. Live or die
it pays for 10 years, you keep on living – it keeps
on paying.
Transfer $66,000 into a Deferred Annuity for guaranteed,
safe, secure, tax-deferred growth. If the interest rate
averages 6% the deferred annuity grows to $132,000 in
12 years; if it averages 7.2% it grows to $132,000 in
10 years.
The above illustration takes care of Long Term Care,
keeps $35,000 in the Bank.
Bank Money to Annuities to Long Term Care to Bank
1. Transfer $24,000 to an Income Annuity
2. Transfer $101,000 to a 10% Bonus Annuity
3. 10% Bonus goes back to the Bank; available on the
anniversary date
Or you can enhance [synergize] your money more by leaving
the Bonus in the Annuity until you need it. With annual
10% penalty free withdrawals your annuity could be your
personal money bank.
Another option, transfer the 10% Bonus into an income
annuity on the first anniversary, thereby, developing
a cash flow.
So many options to consider. It will pay you to talk
with an ANBC Certified Annuity Consultant.
When asked ‘What’s an annuity?’ Certified
Annuity Consultant Jay Radcliff, Little Rock, AR said, “It’s
the best and safest investment tool for senior citizens.”
And, Darrell Shanks, Certified Annuity Consultant, with
offices in New Jersey and Pennsylvania said, “Annuities
can be a tax-deferred accumulation plan or an immediate
income stream, but they all offer guaranteed liquidation
of money with interest that can’t be outlived.”
Now that puts an end to the fear of outliving your money.
That’s peace of mind!
Rest In Peace
“Relative to my investments I like my annuities
best!”
My annuity portfolio provides me with a special peace
of mind. Silent performers accumulating wealth for nearly
three decades providing substantial guaranteed growth
without generating annual 1099s. Each year the growth
[interest] of my annuities is credited and sheltered
from the IRS and sheltered from market loss.
My annuity portfolio provides me with a special peace
of mind. It bears no expenses, no annual fees, no administrative
charges, and no buy or sell expenses.
My annuity portfolio compared to my Wall Street Investments
provides me with a very special peace of mind. My gains
[interest] are credited annually, locked in and sheltered
from the IRS, from market losses, corporate scandals,
and bankruptcy. With my annuities, unlike the stock market,
I don’t worry about market movements, I don’t
have to know when to pull the trigger and sell to lock
in gains or to cut my losses.
My annuity portfolio compared to my Real Estate Investments
provides me with a very special peace of mind. With my
annuities I pay no buy and sell realtor commissions,
I pay no management fees, no upkeep costs, no real estate
tax, no public liabilities, and no insurance premiums.
My annuity portfolio doesn’t keep me awake at night
nor does it call me out in the middle of the night.My
annuity portfolio provides me with a special peace of
mind knowing that it’s protected for me, for
my spouse, my children, and my grandchildren. Knowing
the full value is immediately available and payable to
my family without going through the painful, costly,
time delays of the probate courts. It lets me rest in
peace.
You too can enjoy that special peace of mind…with
annuities. |
