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.