5 Key Considerations for Long-Term Care Planning

May 7

Planning for long-term care is an essential part of your financial journey. As you prepare for the future, here are five important factors to consider:

1. Understand Your Potential Needs

Take time to assess your personal situation, including your health, family history, and lifestyle preferences. Statistics show that about 56% of people turning 65 today will require some form of long-term care services in their lifetime. Consider where you'd prefer to receive care-whether at home or in a specialized facility-and what type of assistance you might need.

2. Start Planning at the Right Age

The timing of your long-term care planning affects both coverage options and cost. While premiums increase with age, waiting too long might mean paying less overall. For example, a healthy 55-year-old couple might pay around $2,100 annually, while a 65-year-old couple would pay about $3,700. However, the decade of savings could offset the higher premium.

3. Evaluate Coverage Options

Long-term care insurance is just one of several financing options. Today's market offers traditional policies, hybrid life insurance policies with long-term care riders, and qualified longevity annuity contracts. Each option has different benefits and drawbacks depending on your specific situation and goals.

4. Consider Inflation Protection

This feature is crucial, especially for younger buyers. Nursing home costs have been increasing by approximately 5% annually. Without adequate inflation protection, a facility costing $180 per day today could cost $480 daily in 20 years-potentially creating a significant shortfall in coverage.

5. Incorporate LTC into Your Overall Financial Plan

Long-term care planning shouldn't exist in isolation. It should be woven into your broader retirement strategy to ensure all your financial goals remain achievable. Consider how potential care costs might impact your retirement lifestyle and other financial objectives.

Planning for long-term care can feel daunting, but you have support to guide you through it. We're here to help you develop a personalized strategy that protects your assets and provides peace of mind for you and your loved ones.

Contact us today to discuss how we can help you prepare for a secure future with a long-term care plan tailored to your unique needs.

Ready to Take the Next Step?

Don't leave your long-term care planning to chance. Schedule your personal 30-minute consultation today by calling 570-279-6099 or email brook@stahlneckergroup.com. During this complimentary session, we'll discuss your specific concerns and outline potential strategies tailored to your situation. Your future security is too important to postpone-reach out today. Let’s start the conversation

Advisory services through Discipline Wealth Solutions, Inc.

The Stahlnecker Group and Discipline Wealth Solutions, Inc are separate and independent entities. The articles and opinions expressed in this newsletter were gathered from a variety of sources, but are reviewed by Discipline Wealth Solutions prior to its dissemination. All sources are believed to be reliable but do not constitute specific investment advice.

Investing involves risks. Investments are not guaranteed and may lose value. No representation is being made that any account will or is likely to achieve future profits or losses similar to those shown. You should not assume that investment decisions we make in the future will be profitable or equal the investment performance of the past. Past performance does not indicate future results.

Brooks Stahlnecker

Brooks Stahlnecker is not your typical financial strategist. As the founder of The Stahlnecker Group, he has dedicated his career to helping individuals and families achieve financial security through proactive planning. With a background as a firefighter, he knows firsthand the importance of being prepared before disaster strikes.

That same urgency and strategic mindset led him to develop The Financial Fire Drill™, a system designed to help individuals and families build financial resilience before they need it.

A lifetime member of the Warrior Run Area Fire Department, Brooks has served as a Firefighter/EMT for over 25 years. He is also a proud member of Masonic Lodge #401 in Watsontown, PA. His dedication to service extends beyond financial strategy—he applies the same discipline, preparedness, and leadership to every aspect of his work and community involvement.

A natural problem-solver, Brooks thrives on simplifying complex financial concepts into clear, actionable steps. Whether he's coaching clients on securing their financial future or tackling emergencies in the field, his approach remains the same—anticipate risks, take proactive steps, and ensure peace of mind.

When he’s not working to protect lives and livelihoods, you’ll find Brooks enjoying the great outdoors, sharing a laugh with family and friends, or diving into his next challenge with the same passion that fuels everything he does. If you’re looking for someone who brings both strategy and heart to financial preparedness, Brooks is the guy to call.

http://www.stahlneckergroup.com