Episode 118: Long-Term Care Planning: Nursing Homes and CCRCs (Part 4)

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

• Nursing homes provide 24-hour care for individuals who need significant help with daily activities and medical issues.
• Hospice care focuses on providing comfort and pain relief for individuals with terminal conditions.
• CCRCs offer multiple levels of care within one community, allowing individuals to transition as their needs change.
• It is important to review CCRC contracts with an elder law attorney and consider the financial stability of the facility.
• 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 

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?"