Long-Term Care Coverage in Your Retirement

Feb 7, 2024

Having a long-term care policy can be a great way to pay for expensive long-term care costs. However, it’s important to carefully consider the tax implications associated with this decision.

Travis Johnson, TRS financial planner and educator, helps us explore this topic in an excerpt from Retirement University’s online course, “Tax-Saving Strategies in Retirement.”

When planning for your long-term care costs, it’s important to evaluate:

  • The tax implications of using a long-term care policy, as compared to using an IRA, for expenses like in-home care
  • The potential impact this decision could have on your beneficiaries
  • How this decision fits into your overall retirement plan

We encourage you to look at your retirement plan holistically so you can better assess how each part of your financial plan aligns with your goals. A great first step is to learn more about how tax strategies can evolve throughout your retirement. Check out “Tax-Saving Strategies in Retirement,” our flagship course at Retirement University!




Investment advisory services and insurance services are provided through The Retirement Solution LLC., a Registered Investment Advisor.

The general views outlined in this material are those of The Retirement Solution LLC. and should not be construed as individualized or personalized investment advice. This is for general information only and is not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial planner prior to investing.

All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly. Any economic and/or performance information cited is historical and not indicative of future results. There is no guarantee that the strategies discussed will be successful. Risk accounts are not FDIC insured, not bank guaranteed, may lose value, not insured by any Federal Government Agency and not a bank deposit.

The Retirement Solution LLC. is an investment advisor registered or exempt from registration in each state The Retirement Solution LLC. maintains client relationships.

The Retirement Solution LLC. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser, tax professional, or attorney before implementing any strategy or recommendation discussed herein.


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