In this episode, Wade and Alex continue their discussion on long-term care, focusing on nursing homes and continuing care retirement communities (CCRCs). They also touch on hospice care and the importance of having a power of attorney in place. They highlight the need to carefully review contracts and consider the financial strength of CCRCs. Listen now to learn more!
Takeaways
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- Nursing homes provide 24-hour care for individuals who need significant help with daily activities and medical issues.
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- Hospice care focuses on providing comfort and pain relief for individuals with terminal conditions.
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- CCRCs offer multiple levels of care within one community, allowing individuals to transition as their needs change.
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- It is important to review CCRC contracts with an elder law attorney and consider the financial stability of the facility.
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- Upcoming topics will include funding options for long-term care and interviews with experts in the field.
Chapters
00:00 Introduction and Correction
00:31 Continuing Care Retirement Communities (CCRCs)
10:02 Hospice Care
25:52 Considerations for CCRCs
30:38 Upcoming Topics and Conclusion
Links
Click here to watch this episode on YouTube: https://youtu.be/2MwY0v_-X0w?si=xq_WpWG8ZS0SVsRB
The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/
This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/roth/ to download McLean’s free eBook, “Is a Roth Conversion Right For You?”
