Too Late? Not Quite—Protecting Your Retirement Savings Now

You’ve been enjoying your well-earned freedom for 3 to 14 years, tending your garden, swapping stories with neighbors down at the feed store, and soaking in the sunrise over rolling fields. But lately, you’ve noticed that talk of long-term care planning seems to surround people turning 65—feel like you’ve already missed the boat? Rest easy. There are solutions designed for folks just like you, and you aren’t too late to get the coverage and peace of mind you deserve.

Option 1: Short-Term Care Plans

Short-term care (STC) plans are built to bridge the gap between a hospital stay and any long-term care you might need down the road. Think of it as a cash benefit you draw on for a predetermined period—typically 3, 6, or 12 months—to pay for in-home help or a stay at your favorite assisted-living community.

• Affordable Premiums: Unisex rates mean husbands and wives pay the same, and many retirees find a 12-month benefit for well under $150 per month.
• Simple Underwriting: Most STC plans don’t require the deep dive of medical exams that traditional long-term care policies demand, so prior health events often aren’t deal-breakers.
• Freedom of Choice: Use the cash benefit where you want—hire a trusted neighbor or a professional aide, or cover part of a facility bill without being locked into a network.

For early retirees who thought they’d missed the window, STC offers an entry point to protection without dipping heavily into savings or waiting on lengthy approvals.

Option 2: Asset-Based Long-Term Care Strategies

If you’ve got a Bank CD, a modest IRA, or a chunk of savings gathering interest, you can convert that nest egg into a two-to-three-times multiplier for long-term care expenses. These asset-based solutions—often structured as an annuity or life insurance contract—turn today’s dollars into tomorrow’s care benefits.

• Leverage Your Savings: $50,000 could translate into $100,000–$150,000 in care benefits, depending on the contract design.

   

• Guaranteed Growth: Many products include guaranteed minimum growth, so if you never draw on the care benefit, your heirs still receive the remaining value.

   

• Tax Advantages: Under IRS Code 7702, qualified LTC benefits paid from these contracts may be received income-tax-free.

   

This approach is especially powerful for early retirees who didn’t lock in a traditional policy at age 65 but still want substantial coverage that won’t drain retirement accounts.

You’ve spent your life planting seeds, raising a family, and watching your savings grow. Now it’s time to let someone else help cultivate your peace of mind. A brief call with Mark Rogers, CLTC, can clarify which option—or blend of both—best fits your unique situation. Whether you need a short-term solution to get you started or a robust asset-based plan to maximize your benefits, Mark’s experience serving rural retirees means he knows how to find creative answers that protect your savings and your freedom.