Hi Reader,

Do you have a plan for the rising costs of extended healthcare as you approach retirement?

Many are caught off guard by the financial impact of caregiving, both for themselves and their aging loved ones.

​Nancy Dykeman has over 45 years of experience in caregiving, nursing home administration, and long-term care insurance advocacy. She has spent the last 20+ years as a national specialist and educator in the long-term care industry and is a former instructor of the CSA designation as a Certified Senior Advisor.

She brings her personal caregiving experiences for her parents, daughter, stepdaughter, and now her husband through education and planning, providing consumers and professionals with stories and interactive techniques to make her a very successful expert in planning for future health events.

In part 1 of a 2-part series, Eric Blake sits down with Nancy to discuss why it’s critical for those nearing retirement to think beyond traditional savings and begin planning for extended care. Nancy shares her personal journey and dispels common myths surrounding long-term care, offering practical strategies to safeguard your financial future.

This episode offers vital insights for those approaching retirement, helping them navigate long-term care planning with confidence.

Key Highlights

• Women and Caregiving: Women over 55 face unique risks, often juggling caregiving for aging parents while managing their own retirement plans. Learn how to mitigate these risks with proper planning
• Nancy’s Journey: Discover how Nancy’s personal and professional experiences led her to advocate for long-term care insurance, helping families stay financially secure while aging at home
• The Financial Toll of Caregiving: With costs ranging from $5,000 to $10,000 per month, long-term care can cause significant financial strain. Nancy explains how to prepare financially to avoid these burdens
• Cognitive Decline and Care: Memory loss and cognitive decline require extended care. Nancy shows how to protect your financial future through early planning
• Fiduciary Responsibility: Financial advisors need to address long-term care with their clients—failure to do so could put retirement plans at risk. Nancy stresses the importance of including care planning in retirement strategies
• And Much More!

Actionable Takeaways:

• Begin planning early to safeguard your financial future
• Start open conversations with family about caregiving roles and financial resources
• Consider long-term care insurance or alternative financial plans to cover care costs and protect your assets

Click the image below or tune in on your favorite podcast app!

Episode Resources

• ​Join the Simply Retirement Newsletter​
• ​Ask a Question or Suggest a Topic for the Podcast​
• ​LinkedIn: Nancy Dykeman​
• ​Website: LTCI Partners​
• Email: nancy.dykeman@ltcipartners.com

Have more questions about retirement planning? Just hit reply to this email. I read and respond to every message. 😃

Keeping Retirement Simple,

Eric Blake, CFP®

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