CAUTION: This Can Destroy Your Nest Egg…

There has been a huge spike in the life expectancy of Americans over the past several decades.  We have been conditioned to diligently save for our retirement.  We have been encouraged to have a retirement distribution strategy in place to help us maximize our retirement assets while mitigating and eliminating heavy, immediate and unnecessary taxation.  But what about that event that nobody likes to talk about that can destroy your nest egg?  This event is typically sudden, unanticipated and blindsides many Americans.   What is it?...

Today you may look and/or feel great.  Your spouse may be active and strong.  What happens if you or your spouse suddenly takes ill?  What if you or your spouse is suddenly faced with a debilitating injury or other health problem?  If you haven’t allocated some of your assets to handle a sudden illness or long-term care event, you have essentially allocated ALL of your assets to address this type of crisis. 

It may be hard to imagine yourself in a dire position now, but ignoring the fact that most Americans (or their spouse) will encounter a long-term care event at some point in their lives, will only serve to help erode the assets you have earmarked for retirement.  To give you an idea of what to expect, below are the average annual cost statistics in a few states from coast-to-coast for nursing home care.  The statistics are based on semi-private room accommodations:

If you are not sure how to handle and plan for a long-term care event, don’t keep putting it off.  All Americans should have a solid, well thought out plan to help protect themselves and their loved ones from financial and emotional devastation.  A long-term care planning assessment is a FREE service that retirement distribution specialists offer.  He or she can help you understand what options are available and what strategies make sense for you and are appropriate for your personal situation.