I plan that Friday’s show generally be a Q&A show and today, I planned to answer two questions: one about planning for long-term care needs and the other about what to do with a less-than-stellar 401(k) plan.

Unfortunately, I was really only able to answer the first one.

But, I hope the answer will provide some light into how to plan going forward for long-term care needs (when poor planning was done in the past) as well as some motivation and ideas for others to avoid the same problems.

I received this scenario from a listener: “My 81-year-old father (who hasn’t been able to work in 30 years) has just had a stroke and has been diagnosed with dementia. My parents don’t really have any money–just Social Security income and my mom’s earned income. What can we do?”

I really do my best to give them some ideas about what they can do as well as give some planning tips for others who aren’t in that situation.

We discuss:

  • Starting with the non-financial planning first.
  • The major sickness and death statistics affecting caregivers.
  • VA benefits (including the Aid & Attendance Pension and How to Qualify)
  • Qualifying for Medicare and Medicaid (and planning for it).
  • Community health programs.
  • Social Security planning

Thank you for the iTunes reviews. I really, really appreciate them! Keep ’em coming!

Not the usual financial fodder…
by: Leftybe (United States )*****(5 stars)
Joshua dives deep into interesting topics; not the typical financial fodder we usually hear. He really gets me thinking. His friendly, candid manner makes the show an enjoyable listen. I was glad to hear a mention of finances with special needs kids in mind. Hoping to hear more on this subject.
Hands down my favorite podcast!!!
by: Quin9701 (United States )*****(5 stars)
Daily podcast filled with detailed and thought provoking financial information. Especially enjoyed the episode on taxes. Keep it going!
Great Information
by: Love this game2 (United States )*****(5 stars)
Great Financial Information out there. Very Informative.

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