Planning For Care Costs
Doesn't Have to Mean Guessing Alone

The biggest risk isn't just needing care — it's how paying for it could affect your retirement income, your lifestyle, and your legacy. There's more than one way to plan for this, and the right one depends on your situation, not a one-size-fits-all answer.

I wrote about this for CNBC, but I've also lived it. When my father needed care, I saw firsthand how quickly a health change can reshape a family's finances and decisions — even for families who thought they'd planned carefully.

That experience is part of why I focus on this with my clients. Alzheimer's alone affects an estimated 1 in 9 Americans age 65 and older. This isn't a distant, hypothetical risk for most families — it's a real planning question.

Read Mv CNBC Article: "An Alzheimer's Wave Is Coming"

Three Ways Families Typically Approach This

There's no single right answer here — the right approach depends on your health, your finances, and what matters most to you. Broadly, families tend to consider three paths:

The traditional path: dedicated long-term care insurance policy — its own premium, its own medical qualification, coverage that activates when you need it. Often the most direct option, though premiums can rise over time and you're paying for a policy you may or may not ever use.

A hybrid path: Life insurance with a long-term care feature built in. You're building a death benefit for your family either way — if you need care, you can access funds early; if you don't, the death benefit remains. Premiums are generally fixed, but the overall cost is usually higher than the traditional path.

A path built into your retirement income itself, without a separate premium or a medical exam beyond what your retirement plan already requires.

Many people put off this kind of planning entirely because they don't want another premium, or they're worried they won't qualify medically. That hesitation is understandable — and it's exactly why it helps to walk through all three paths with someone who isn't trying to sell you just one of them.

How a Consultation Helps

There's no cost and no obligation to talk it through. In a free virtual consultation, we'll look at your specific situation — your health, your finances, your family's needs — and talk honestly about which of these paths, if any, makes sense for you. Sometimes the answer is a combination. Sometimes it's deciding you don't need to act yet. Either way, you'll leave with clarity, not a pitch.

Why Talk to Delancey About This

With over 30 years of financial planning experience, Ivory Johnson, CFP®, ChFC, works with families to evaluate long-term care options before a health crisis occurs. As an independent advisor, his goal is to help you analyze solutions tailored to your financial situation.

This free guide gives families a practical roadmap for planning ahead for long-term care. It explains key legal documents, the cost of care, Medicare, Medicaid, caregiver support, fraud prevention and a 30-day action plan. Think of it as a helpful starting point for organizing important decisions, protecting loved ones, and preparing before a health or caregiving crisis creates financial pressure.