Long-Term Care Planning

37. The Financial Planning Guide for High-Net-Worth Families [Video]

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37. The Financial Planning Guide for High-Net-Worth Families

Most high-net-worth families work with various professionals, such as CPAs, estate planning attorneys, and valuation experts.

How can you bring them all together and create a holistic financial plan?

Derek Myron and Kyle Malmstrom answer the question in this episode. Join them as they explain strategies to create a forward-looking financial plan, minimize income and estate taxes, and optimize your wealth transfer for future generations. They also walk you through Centura Wealth Advisory’s comprehensive wealth management process that liberates you from financial burdens.

Derek and Kyle discuss:

– Ways to know if a particular financial services professional is ideal for you
– How to avoid a silo approach to your finances and focus on long-term planning
– Tips for building a customized financial strategy based on your unique goals
– Best practices to help you prepare for the potential tax changes
– And more

Connect With Centura Wealth Advisory:

(858) 771-9500
Centura Wealth Advisory
LinkedIn: Derek Myron
LinkedIn: Kyle Malmstrom
LinkedIn: Centura Wealth Advisory

Long-Term Care Planning


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Long-Term Care Planning

Medicare Won't Cover Your Long-Term Care | How To Make Sure You Get The Best Care When You Retire [Video]

FREE GOLD INVESTMENT GUIDE: AN ACCOUNT TO START INVESTING IN GOLD*DISCLOSURE: Noble Gold Investments or any of its employees are not certified, financial advisors. Opinions, information, tips, and all contents expressed are for information purposes only.*#goldinvestmentira #securefinancialfuture #investmenttips_____________________________________________There are over 57 million people in the United States that are 65 or older. Medicare statistics show that by 2050, that number will grow to over 80 million and a very large percentage of those will be in the 85+ category. That is the category that requires the most long-term care or, in government-speak, LTSS or long-term services and supports. Why should you care about these fine points of the Medicare statistics? Because LTSS can cost you a lot of money. It costs so much, all the retirement fund you have will probably go into LTSS. In a new report issued by the Department of Health and Human Services, the figures are broken down:men who turn 65 in the next few years can expect to spend an average of $142,000 on long-term care needs. For women, that figure is $176,000. A shocking 56% of boomers mistakenly believe that Medicare will pay for long-term, sometimes called “custodial” care. They are sadly mistaken. Medicare was designed to cover medical care only. That means that if you need short-term care in a skilled nursing facility after a hospital stay, Medicare Part A will usually cover some of the cost for some part of your stay. It gets more complicated than that, but the point is that Medicare does not pay for the kind of long-term care included in the average cost figures above. This misunderstanding about Medicare coverage may be why boomers don’t think long-term care is a high priority, especially as they move into their 60s and 70s. A 2019 Bankers Life study of middle-income boomers revealed the following:· Just 18% of boomers report that planning for later life care is a high priority.· 30% of boomers surveyed have less than $1,000 saved for a financial emergency.· 74% of boomers are somewhat or very confident in their ability to manage their own and their spouse's healthcare costs as they age, however, 79% of boomers have no money set aside specifically for their long-term care needs.Some of this type of care takes place at assisted living facilities or residential care communities. These places are almost exclusively private pay. When a person’s financial resources have been exhausted, they can apply for Medicaid. If they qualify, they are most likely admitted to a skilled nursing facility because most assisted living facilities do not take Medicaid. _____________________________________________CONNECT WITH US ON SOCIAL:Instagram: stocksbuying goldgold etfsgold price historygold bullionsilver stocksbuying gold near mehistorical silver pricesgold barrickgold investmentbuying gold barsgold panningsilver stocks pricebest gold stocksbuying gold onlinebuying gold coinbuying gold and silvergold bullion pricebuy gold stocksgold fieldsgold stocks etfgold a good investmentgold price history chartbuy gold bulliongold bullion for salemining stocksgold mining etfsbuying gold and silver near megold panning near memining stocksgold dredginggold irasilver miner stocksgold mutual fundsbest way to buy goldbest way to buy goldgold commoditygold fundbest way to invest in goldgold bullion barsinvesting in precious metalspurchase goldbest silver stocksbullion dealerbest gold stocks to buygold historical chartbest way to invest in goldbest gold stocks to buyinvesting in gold and silverbuy physical goldgold stocks to invest infind bullion pricesgoldcorp stocksgold etf priceshistorical platinum pricesmining claimsgoldcorp stocksgold ira companiesinvest in gold stocksgold etfs to buysilver to gold ratio historygold companiesgold futures investingbest gold mining stocksgold stocks todaygold bullion coinhistorical silver chartprecious metals iraprecious metal iragold sharesgold and silver bullioncheap gold stocksgold and silver stocksbuying bulliongold spot price historygold price per ounce historyshould i buy gold nowgold ira rollovergold price investinggold ira rolloverbullion pricesbullion bankpurchase gold barbuying gold with bitcoinbuying gold bars onlinegold price history 2019gold coin investmentbest gold investment

Business Owners Long-Term Care Planning Retirement Planning

Goran Milic grew up in Serbia and moved to the US in his early twenties. Among many other roles, he’s a dad, husband, financial planner, and chief retirement strategist at Tesla Wealth Management. For the last ten years, Goran has been helping people with their financial, retirement, and insurance planning. He’s an actuary by trade, and actuaries are creators of all types of insurance, annuities, pension funds, and other financial products.Goran was always passionate about crunching numbers and explaining math to his non-math friends and family. Throughout his schooling, he has discovered his special gift in his ability to gather scattered information and bring it all together in an organized, well-researched, and actionable way. In addition, he loves to tackle complex financial topics and break them down for a layperson to understand.While working for a large national firm years ago, Goran realized that a vast amount of the advice given to clients was not aligned with their best interests. So he joined TWM with the conviction that while every client’s situation is unique, there is an optimal solution that perfectly suits each client. It may take more effort and sometimes thinking outside the box, but there is no other way for their team at TWM.As far as Goran’s education goes, he has a Bachelor’s degree in Actuarial Science from Roosevelt University. He’s also maintaining his Life and Health producer license and the CLTC designation, a certification for Long-Term Care insurance.When he doesn’t work, Goran loves to spend time with his wife and their two children, enjoying nature and an outdoorsy lifestyle. Learn More: Influencers with Mike Saunders

Long-Term Care Planning

Long term care is a subject which is confusing, daunting and often comes at a time of great stress. We asked SOLLA accredited Chartered Financial Planner David Summers to answer the questions he is most often asked when it comes to creating a long term care plan.    Please note that the upper limit of £23,250 only refers to England and Northern Ireland, Wales and Scotland have different upper limits. SeventySeven Wealth Management Limited is an Appointed Representative of and represents only St. James's Place Wealth Management plc which is authorised and regulated by the Financial Conduct Authority.IG Hashtags: #77 #77wm #SeventySeven #SeventySevenWealthManagement #SeventySevenWealthManagementUK #WealthManagementUK #WealthManagementAdvisor #WealthManagement #WealthManagementPartners #WealthManagementTips #FinancialPlanning #FinancialPlanningUK #FinancialWellBeing #FinancialAdviceUK #Finance #Investment #InvestmentManagement #Wealth #Pension #FinancialFreedom #RetirementFund #ProtectionPlanning #ManagingYourCash #InvestmentPlanning #RetirementPlanning #SchoolFeesPlanning #InheritanceTaxPlanning #IntergenerationalPlanning #CareInLaterLife #LongTermCare