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    • Home
    • LTC Basics
      • The LTC Planning Gap
      • The CAREfidence Process
      • Quantify The Need
      • Planning for LTC
      • The Self-Funding Realtiy
      • TAX-FREE Annuity Upgrade
      • Necessary Legal Documents
      • Don't Go It Alone
      • News & Notes on LTC
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  • Home
  • LTC Basics
    • The LTC Planning Gap
    • The CAREfidence Process
    • Quantify The Need
    • Planning for LTC
    • The Self-Funding Realtiy
    • TAX-FREE Annuity Upgrade
    • Necessary Legal Documents
    • Don't Go It Alone
    • News & Notes on LTC
  • Design A Plan
    • Could This Be YOUR Plan?
    • Customize A Plan For Me
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Planning Scenario #4

Charlie & Carol Cash: RMDs & LTC Planning

The Cash family, like many families, have put off discussing important issues regarding their aging parents, even though that discussion has financially significant implications.  However, proactive multi-generational planning can often lead to wise long-term decisions.  In this planning scenario, we have the following planning assumptions:


- The couple, both 70 years old, are quite active and healthy and receive a pension and Social Security that meets their income needs.


- They are concerned about burdening the children/grandchildren and would  “pay for care” with untapped $600,000 in retirement accounts, which Carol also sees as "legacy assets" to be passed on to their children/grandchildren.


- The couple must begin taking Required Minimum Distributions (RMD) soon, and their CPA indicates total RMDs for the couple will exceed $22,000.


- Their HALO Assessment projects a 6-year, $7,500 per month combined need for care, likely to begin well into their nineties.

If you or a loved one were in Charlie & Carol's position, which option would you select to maximize your funding sources and achieve the LTC Planning goal?

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