Long-Term Care Planning

Hey Coach,

Most financial plans focus on retirement income.
Very few address what happens if health changes first.

That’s where long-term care planning comes in - not as a worst-case scenario, but as smart defense.

What Is Long-Term Care?

Long-term care (LTC) covers help with activities of daily living, such as:

• Bathing

• Dressing

• Eating

• Mobility

• Cognitive support (Alzheimer’s / dementia)

This care can happen:

• At home

• In assisted living

• In nursing facilities

And here’s the key point:

👉 Medicare does NOT cover most long-term care.

Why Coaches Should Care

Long-term care isn’t just a money issue - it’s a family issue.

Without a plan:

• One spouse often becomes the caregiver

• Retirement assets get drained quickly

• Adult children may be forced into decisions under stress

With a plan:

• You protect your spouse

• You preserve flexibility

• You maintain control

That’s defense.

How Common Is Long-Term Care?

Rough averages (not guarantees):

• About 1 in 2 people over age 65 will need some form of long-term care

• Care may last months - or several years

• Costs can easily exceed $5,000–$8,000 per month, depending on location

You don’t need certainty to plan.
You need awareness.

Last Time the Market Was This Expensive, Investors Waited 14 Years to Break Even

In 1999, the S&P 500 peaked. Then it took 14 years to gradually recover by 2013.

Today? Goldman Sachs sounds crazy forecasting 3% returns for 2024 to 2034.

But we’re currently seeing the highest price for the S&P 500 compared to earnings since the dot-com boom.

So, maybe that’s why they’re not alone; Vanguard projects about 5%.

In fact, now just about everything seems priced near all time highs. Equities, gold, crypto, etc.

But billionaires have long diversified a slice of their portfolios with one asset class that is poised to rebound.

It’s post war and contemporary art.

Sounds crazy, but over 70,000 investors have followed suit since 2019—with Masterworks.

You can invest in shares of artworks featuring Banksy, Basquiat, Picasso, and more.

24 exits later, results speak for themselves: net annualized returns like 14.6%, 17.6%, and 17.8%.*

My subscribers can skip the waitlist.

Skip waitlist

_{*Investing involves risk. Past performance is not indicative of future returns. Important Reg A disclosures: masterworks.com/cd.}

Three Ways to Plan for Long-Term Care

1. Self-Funding

You plan to pay out of pocket if needed.

Works best if you:

• Have significant assets

• Are comfortable with variability

• Have flexibility in spending

Risk: a long care event can derail even solid plans.

2. Traditional Long-Term Care Insurance

Pays benefits if you need care.

Pros:

• Leverages insurance dollars

• Protects assets

• Predictable coverage

Cons:

• Premiums can rise

• Use-it-or-lose-it structure

• Medical underwriting required

3. Hybrid Policies (Life + LTC or Annuity + LTC)

Combines insurance with long-term care benefits.

Pros:

• No “wasted” premiums

• Benefits paid for care or to heirs

• More predictable costs

Cons:

• Higher upfront cost

• Less flexible once purchased

When Should Coaches Start Thinking About This?

Typically:

• Late 40s to early 60s is the planning window

• Health is still good

• Options are broader

• Costs are lower

Waiting until retirement often means fewer choices.

⚠️ Common Mistakes

• Assuming Medicare covers it

• Waiting until health declines

• Ignoring the impact on a spouse

• Treating LTC as an all-or-nothing decision

You don’t need perfect coverage - you need a plan.

Final Whistle

Long-term care planning isn’t about fear.
It’s about control.

✔️ Protect your spouse
✔️ Preserve your retirement plan
✔️ Reduce stress on your family

Great coaches plan for what might happen - not just what they hope happens.

Subscribe here → Wealth4Coaches Newsletter

Coach Mike Klinzing
Founder, Wealth4Coaches
"Coach smarter. Save better. Live freer."