In this episode, Wade and Alex introduce the long-awaited arc on long-term care planning. They discuss the importance of planning for long-term care and the impact it can have on retirement. They define what a long-term care need is and explain the activities of daily living (ADLs) that determine eligibility for long-term care benefits. They also highlight the distinction between ADLs and incidental activities of daily living. The episode concludes with a preview of the next episode, which will cover the costs and prevalence of long-term care. Listen now to learn more.
00:00 Introduction to Long-Term Care Planning
03:01 Personal Experiences and the Importance of Long-Term Care Planning
08:58 Budgeting for Long-Term Care
14:12 Determining the Amount to Set Aside for Long-Term Care
21:36 The Demographics and Increasing Need for Long-Term Care
26:39 Defining a Long-Term Care Need
27:56 Activities of Daily Living (ADLs) and Cognitive Impairment
32:46 Incidental Activities of Daily Living
36:53 Summary and Next Steps
Links
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