3248: Long-Term Care Insurance is a Waste of Money by Mike Ballew of EggStack on Wealth Preservation

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8d ago 10:46

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Episode 3248:

Mike Ballew challenges the conventional wisdom around long-term care insurance by exposing how misleading statistics and industry practices inflate the perceived need for it. He presents a compelling case for self-insurance, showing how investing the equivalent of monthly premiums could offer better financial protection and peace of mind in retirement.

Read along with the original article(s) here: https://eggstack.com/blog/2019-07-28-Long-Term-Care-Insurance-is-a-Waste-of-Money/

Quotes to ponder:

"Only 25 percent of nursing home stays last more than a year, and only five percent last more than two years."

"You can pay an insurance company $300 a month for decades and hope they’ll be there if you ever need them, or you can insure yourself."

"If you don’t need it, you can pass it on to your heirs. Try doing that with long-term care insurance."

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3258 episodes