Interesting how the math works for the top two examples for couples.. Taking 290k out of your IRA and paying the tax at 24% will net you 220k to pay for the top policy. Taking 290k IRA to pay directly results having 29k a year in taxable income for 10 yrs. Maybe less tax overall depending on your bracket. Most important thing said was near the end.. Without a firm plan of some kind, heirs will fight over how to handle the LTC problem, some unconsciously wanting a bigger inheritance so they put you in a cheaper and less desirable facility.
Great video on a very important topic of retirement. VERY interested in how the IRA option plan works, particularly around how/when taxes paid.
Interesting how the math works for the top two examples for couples.. Taking 290k out of your IRA and paying the tax at 24% will net you 220k to pay for the top policy.
Taking 290k IRA to pay directly results having 29k a year in taxable income for 10 yrs. Maybe less tax overall depending on your bracket.
Most important thing said was near the end.. Without a firm plan of some kind, heirs will fight over how to handle the LTC problem, some unconsciously wanting a bigger inheritance so they put you in a cheaper and less desirable facility.