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Easter Message for Those with Retirement Plans: Don't Put All Your Eggs in One Basket
Put Some in Long-Term Care Insurance 'Basket'
KIRKLAND, Wash., April 20, 2011 (SEND2PRESS NEWSWIRE) -- Regardless of your faith, you might benefit from the following Easter-week advice: Take some of the nest eggs in your nest-egg basket and put them into another basket, one devoted to long-term care needs. Otherwise, your retirement dreams could be suddenly shattered. So says Jonas Roeser, Senior Vice President of Marketing and Operations for LTC Financial Partners LLC (LTCFP)."The money you're counting on for retirement - stored in your home equity and your 401(k) or IRA account - may not be as safe as you think," Roeser says. "It could easily be wiped out by long-term care needs of you, your spouse, or another family member. Retirement nest eggs, like Easter eggs, should be put in more than one basket for safety's sake." Roeser points out that the cost of long-term care can easily use up a couple's entire retirement account, including assets accrued over a lifetime. "According to a MetLife study, the annual cost of a private room in a nursing home is now more than $83,000," he says. "In-home care now costs about $21 per hour on average." If care is needed for an extended period, or for more than one family member, the total cost could exceed the balance in the average 401(k). "That's currently just $71,500 according to Fidelity Investments; how far will that go in an emergency?" "We at LTCFP, along with many financial advisors, recommend that people consider putting some of their money into long-term care insurance," Roeser says. "That way you're less likely to break the bank, and more likely to enjoy the retirement lifestyle you've planned for." "Long-term care insurance is more flexible and affordable than many people think," he says. "There are policies to fit all budgets and personal requirements. We have over 500 specialists, serving all states, ready to advise people on the best plans at the lowest rates from competing carriers." More information is available at http://web.ltcfp.com/ltcfp/consumer.aspx . LTCFP is one of America's largest and most experienced long-term care insurance agencies. The company is a co-founder and sponsor of the "3 in 4 Need More" campaign, which seeks to multiply the number of Americans protected by long-term care planning. - RSS news feed for LTCFP: http://send2pressnewswire.com/author/ltc-financial-partners-llc/feed .
NEWS SOURCE: LTC Financial Partners LLC
Permalink: http://www.send2press.com/newswire/2011-04-0420-001-Retirement-Plans.shtml
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REFERENCES: Easter Message for Those with Retirement Plans: Don't Put All Your Eggs in One Basket, financial planning, senior finance, retirement, 3 in 4 Need More campaign, LTC Financial Partners LLC, long-term care insurance agencies, LTCFP, Washington state business news, MetLife study, easter, holiday, 401(k), press release, Apr 20, 2011. |
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