How much of retirement nest egg spent on house?

[tvguy]

Buying long term health care, if it’s even sold in 10 years, is going to be expensive and doesn’t provide much anymore. I’ve been shopping around and I can't find policies that last a lifetime, most will only have a few years timeline.

The average LTC policy owner needs care for a maximum of 18 months. But like all other kinds of insurance, it's all about the averages. My mom bought a policy with a maximum cash payout of $300,000. At the time she needed care, her care cost $4,300 so that would have covered almost 6 years. She ended up needing care for 13 months. My wife and I opted for a plan that pays a predetermined amount per month.....that increases by 5% a year.....for 5 years. You just make the best educated choice within the budget you have. Our premiums soared by $900 a year each in 2022, but our Financial Planner asked us to investigate if there were better options available, and sadly, since we bought our LTC coverage in our 40's, our premiums are $10,000 a year LESS than if we bought coverage today at age 65!!!!!!