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Let me guess, you make your money “Assets under management” averages don’t matter in retirement. You are really misleading people if you are withdrawing money and suffer a negative market. The average doesn’t matter unbelievable

The key to retiring with a 100% stock portfolio (I like VTI) is to manage that volatility, as the 10% is very unsteady...it is rarely, if ever, exactly 10%. I use a personal formula that sells stock of 'one year of forward expenses' at every 10% rise in stock price...it is working for me.

Every company should include this video in their retirement communication to employees. Good old plain common sense that gets muddied by all the sales pitches.

Newly retired, looking to downsize. I would love to live in a downtown condo or townhome but the HOA's scare the hell out of me. If I sell my paid off home and buy a condo outright an HOA could still price me out of a paid off condo resulting in my losing everything at an age I can no longer work? If this is true this should be criminal.

Thank you so much Mike. This is one of the best, least confusing videos on this subject.

I've owned both. Your analysis is very well thought out. I just subscribed.

this guy really does not have a clue about hybrid products...........he is in a different century. No one no every suggest LTC insurance as a stand alone........it is all attached to a life or annuity product

I’ve been debating whether it’s better to own or rent in retirement. Both options have advantages, but I’m not sure which one fits my situation

where from first? From your trust fund setup by your wealthy parents.... duh... JK, your advice is very good. thanks

Ownership is anchor, id rather just own my carryon flight bag in retirement

And the median?

Im 64 retired...dobt give a shit

Thanks Mike for the vid. Blooper included.

if I were young I would plan on having 125% of my best working years income in retirement because every thing goes up every year. I'm retired now and I see that happening.

Ask 10 people and you'll get 10 difference reasons. One size does not fit all.

For many, qualified dividends and long cap gains are also tax free but, like SS, it depends on income. I usually tax-gain harvest to get close to that limit in October - December. Unlike tax loss harvesting there's no wash-sale rule so I can re-buy my companies right after i realize the gain. It's not a lot of dollars but it's nice. One just needs to be sure not to disqualify dividends.

Your just as misleading, “a modest 6% return on investments over 30yrs” conveniently ignoring inflation and what if you aren’t magic at picking investments and pick the wrong ones and only make 3%, or you have to go into a nursing home at 75 not 85 and you stay more than 2 yrs….you have just as slanted an example as the companies do

I would say you might have wanted to include VA pensions for veterans out there. Since it is a disability pension, its not considered taxable. Those who were injured defending our country should be aware of this.

So is the Roth 401K the same as the IRA? and whats the difference and better choice?

What about us on disability, from illness at childhood? SS won't allow investments

Have had 5 condos. Give me a house 🏠 any day 😅

As a retired Army veteran divorced kids gone, I don't need to own a house, I am 65 years old, I only rent an apartment, I have a good pension due to my disability. I'm afraid to own property.

I live in the country. I don’t have HOA fees and would never live in an HOA. I don’t need a committee deciding what kind of storm door I’m allowed to put on my own house and charging me money for the privilege. So I would say living in an HOA is a top five mistake. I’m 15 minutes from a hospital. (Yes, we actually have hospitals in the country). I would say moving to a city is one of the top 5 mistakes. As we age, it’s harder to recover from being mugged and beaten by urban criminals.

Hybrid ltc

I was lucky i had long term care insurance before becoming disabled. I applied for it two years prior

I was lucky i had long term care insurance before becoming disabled. I applied for it two years prior.

I was lucky i had long term care insurance before becoming disabled. I applied for it two years prior.

Viewing housing as a utility changed my thinking on this subject.

With the pool hall anglers in LT. care, the policies should be described as instead long term "care" for the lizards and rodents down at the insurance animal farm. What a nauseating horrendous experience dealing with these insurers out on prison release time seemingly to haunt the public. Go swimming with Great White sharks off Cape Cod before stepping one foot inside a long term care Mafioso type "insurer." Disgraceful, nauseating institutions at all these long term snake dens aka as insurance companies. Caveat emptor above all!!!

Just some bad “logic” in this video. An example of how we consumers need to be wary.

If I could get LTC insurance at the same cost to potential payout as homeowners insurance I might bite, but a policy for me and my wife if we both lived to 100 ( which won't happen) would have us paying the insurance company approx. 670K and that's with a 26 week elimination period. Seems like a only a good deal for this national insurance company.

Thank you for common sense advise. My wife is worried. This should help.

You don’t come out ahead in long term care insurance, you can’t, otherwise the insurance company wouldn’t exist. Invest in yourself, stop giving your money to other people

Excellent points, very thoughtful.

I'll take house upkeep over barking dogs, screaming kids and loud parties. Plus with a house, you will get more exercise.

Ok ..my bad the average age of an admit to a NH IS 84-85...my other arguments remain unchanged

Your arguments are specious: 1) it is estimated that 70% of Americans > 65 will need long term care. This is due to increased longevity of boomer and the rising incidence of dementia . The 1% you quote is for all ages of Americans and totally misleading 2) how many children are willing/ able to give even part time care to an ill parent 3) if an insurance company fails, by law, does it not have another company or companies assume the policies? 4) try getting consistent 6% on anything. Even Treasury notes don't do that 5) your example is of a man aged 85....most NH residents enter at a younger age and don't live to 85 6) yes, it is a big expense....so can flood/ fire/ malpractice insurance.....but what are the consequences if you DON'T insure? Really would love to hear your response

Just trading one type of pain for another 😢.

What is the longterm care insurance companies expense ratio? If they are collecting way more than they are paying out IMO it’s unnecessary. Auto and homeowners insurance payout closer to what they collect, most their profits are made on investments from premiums.

Don't go to an assisted living facility, like Jennings terrace in Aurora ILLINOIS!! The directors don't give a damned about you!! The director of the facility is a dictator who doesn't give a damned that it's your home!!

is there an asset base long term accnt?

I currently have a policy that I bought about 18 years ago (Im turning 55 this month). I bought the cheapest policy that provides $100 per day in protection for 5 years with a 90 day waiting period, and is not an inflation protected policy. However, it offers increase protection for a new premium every 3 years, so I kept opting in except for one time, so now the policy offers $180 per day after a 90 day period for 5 years. It currently cost me $1,000 per year for both my wife and I combined ($500 each). I think Ill keep the policy for now, but we’ll see how it goes in the future.

You forgot to inflate the value of the homeowners house maybe 3% per year, realistically a lot more in recent years.

TRUMP 2024 !!!!!!!

My friend if you are a registered fiduciary and you were counseling this to a client why don’t you put it in writing for them that they don’t need long-term care insurance on your business letterhead and sign it I guarantee it you won’t do that. If you did and they need care your errors and omissions insurance will deny paying any judgments adjudicated again you once that letter from the family your E&O insurance will not pay any claim. This is incredibly irresponsible counsel

This is why we need to vote the requirement out of Washington State. Just save the money in your retirement.

There is a lot of bad info here. We are both physicians. We pay $2500 per year combined for a $100k policy for each of us that we bought in our late 50’s. Premiums are tax deductible and refundable through an HSA. We are in FL and insured with Mutual of Omaha. Rates have been flat for 7 years. Florida has a highly regulated market. The criteria for LTC are quite clear. Getting the insurance company to pay is the same as with any other insurance product. I agree that the need for LTC is over estimated, but having the option of in home care or ALF care is nice, and does get quite expensive if you need it. Obviously nursing home care is very expensive. Our policy only pays after 90 days, but that is also typically when Medicare stops paying. Saving and investing the same money is an option, as is using your home as a last resource. For us a modest policy makes sense and is affordable. Our outlay over 30 years would be $75000, to get $200k of benefits. So far the premiums are flat, but there is a small inflation rider on the benefits. No regrets. Moving my Mother-in- law into an ALF next week. She does not have LTC insurance, and has minimal home equity. I suspect we will be helping her out in the next couple years.

Why wouldn’t you address the increasing chance and length of stay for dementia? Makes everything you said incomplete and misleading.

Our mortgage is 0. So our payment is $212.a month, tax and insurance. It's a new home so we're good for a while. Reverse mortgage is an option only for emergency. Because we're dept free, we only use 30% of our retirement income to meet our budget. We also carry a current $ 27,000.00+ cash savings for maintenance on our cars or home, which we deposit$ 500.00 every month. Having a home is better.

You have not understood LTC clearly .