A Painless Strategy for Long-Term Care Insurance

I’m constantly amazed by how little planning people are willing to do. Take long-term care for example. People will spend money on a cruise or two annually, yet ignore the fact that they may live longer than they think.  They may need assistance, either at home or in a nursing facility. A medical emergency could deplete their savings very quickly. The children they don’t want to depend on will be forced to help with their medical costs.

I have a painless way for siblings to help parents who can’t or won’t purchase long-term care insurance. It’s called the Latte LTC Savings Act.


If three adult siblings give up one latte daily, at a savings of $12 collectively, they will save $84 weekly. In one month, they will save $336 collectively. In one year, they will save $4032. That will buy LTC insurance for one parent for two years.

That’s only one latte daily. What if they gave up three lattes a week and covered both parents. Run the numbers for yourself.

I don’t sell insurance. I’m not a financial adviser. I’m not an economist. But this isn’t rocket science . It’s common sense that kids may have to make a small sacrifice to make sure they and their parents are not bankrupted by long-term care costs.

If your parents won’t plan for themselves, you can do this for your parents. Everyone wins.

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