It rally depends on your SWAN requirements (Sleep Well at Night). You have medical insurance you hope covers you adequately. Same with Car insurance and Homeowners. I don;t know of anyone who makes sure they get their moneys worth using any of them. Some people have pensions, and along with social security use that as their "bond allocation" to protect against stock market variability. Others like annuities (I DO NOT). According to experts, there is a high likelihood that you will need Long Term Care somewhere during your lifetime. As an example, my dad had a stroke at 78, which left him unable to care for himself. He never went back home. He lived for 6 years in a very nice Assisted Living facility, and the last six months of his life in a Skilled Nursing Facility. I managed the money as tightly as I could, and picked up some little known veterans benefits for him at a crucial time. He had no idea about the money situation, but for the grace of God he passed at about the same time as the money was about to run out. he was a lifelong blue collar worker on the railroad, and managed to squirrel away enough money to take care of himself.
others aren't so lucky. While my wife and I are in much better shape than he was financially, medical costs and assisted living costs have skyrocketed. Often, in the case of couples, the first to need it puts an undue burden on the other. several years ago, when LTC was just coming out, we were both offered really good plans and really good rates way before we hit the "recommended" age of 60 for such insurance. We jumped at the chance, and have never missed the money from the premiums. We hope we never have to use it.. but, as part of our overall financial picture, we are able to Sleep Very Well at night ..
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