self-funding
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ChatGPT says this about paying for LTC
Last week, I defaulted to Google Gemini to start our discussion about self-funding. I simply shared the results of the query – “what is the best strategy to fund a long-term care event”. The results were focused on asset depletion (self-funding) and only mentioned the leverage of insurance at the end under the premise that… Continue reading
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According to Gemini – funding LTC
It’s August and hot and humid and energy sucking. Which means that I got lazy and used AI to prime the creative pump. I asked AI the following question: “what is the best strategy to fund a long-term care event” Before I go any further and share the response, you need to pay attention to… Continue reading
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Annuity Exchange
If you are not familiar with what a Pension Protection Act compliant deferred annuity does … this 1 minute video will give you a highlight of what it does. Remember this …. not all deferred annuities meet the requirements to be PPA compliant. This means that income doublers & confinement waivers DO NOT meet that… Continue reading
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Consider the Consequences
I’ve done this before – asked AI for their summary of a topic. Today, I asked it to explain the consequences of not having a long term care plan. Here is what it said. “Neglecting long-term care (LTC) planning can lead to the rapid depletion of life savings, loss of control over your care preferences,… Continue reading
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Enhance your default plan
Last week, I shared with you a little bit about the gap that self-funding poses based upon information presented on the Federal Long Term Care Insurance Program website which made the case against self-funding LTC. I’d like to present an alternative to the risk-retention approach that most people accept. Using a similar set of numbers… Continue reading
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Can you self-fund?
A short time ago, I was looking at the Federal Long Term Care Insurance Program website and came across a page dedicated to self-funding. First off – I was excited that they actually used the terminology self-funding and not “self-insurance”. It is my premise that “self-insurance” in the context of LTC planning is faulty as… Continue reading
Fridays with Fisher 