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Jonathan Pond, Financial Planner, says that 90% of estates are spent this way: 1) nursing home, 2) IRS, 3) children, 4) grandchildren, 5) charity. More people are worried about the IRS taking their money than about having to spend it on a nursing home.
With only about 10% of those buying long term care insurance (ht...more
"Long term care is the largest unsecured risk facing Americans today" – Money Magazine.
Some 75 million boomers are ill prepared to cover the costs of long term care especially since Medicare and health insurance does not cover the bulk of long term care and Medicaid only does once someone has spent their live savin...more
10/30/2011
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