Growth & Inspire
I am inspired by the vines that grow outside our house. Everyday, it climbs higher and higher.
Learning is the same. If you keep learning, you will climb higher and higher. .
Long Term Care with Claude Thau
Bonnie Yam welcomes Claude Thal, who shares his expertise in retirement and long term care planning. The episode covers key elements of developing a long term care plan, including understanding costs and types of care, and the timing for purchasing insurance. Claude addresses common hesitations, comparing self-insuring to buying insurance, and explores financial planning strategies. A case study highlights family dynamics in planning, emphasizing early discussions and optimal decision-making age. The conversation includes financial mechanisms for premiums, tax benefits, and New York's tax credit incentive. The episode concludes with final thoughts on long term care insurance and a preview of the next podcast topic.
Key Points
- Understanding the comprehensive elements of long-term care planning can significantly tailor an effective insurance product to suit individual needs.
- The cost of long-term care varies greatly depending on geographic location and type of care facility, making it essential to plan based on personal circumstances and preferences.
- Buying long-term care insurance earlier can be advantageous due to lower premiums and the benefit of compound interest, ensuring better coverage when needed.
Chapters
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| 0:31 | |
| 1:47 | |
| 3:23 | |
| 7:05 | |
| 15:13 | |
| 19:40 | |
| 23:00 | |
| 26:07 | |
| 27:29 | |
| 28:34 | |
| 30:56 | |
| 32:17 | |
| 33:02 | |
| 33:43 |
Transcript
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