How Can I Plan for Potential Long-Term Care Needs?
By Chris Dixon, Oxford Advisory Group
A: Planning for long-term care means preparing for possible healthcare costs later in life — and deciding how to fund them. Exploring options like insurance, savings, or hybrid strategies early can help protect your income and assets.
Why Long-Term Care Planning Matters
The cost of care in Florida in areas like Lakeland and Jacksonville, assisted living, and in-home care can exceed $4,000–$8,000 per month. Without planning, these expenses could potentially drain retirement savings meant for income or family legacy.
Should You Buy Insurance or Self-Fund?
There’s no universal answer. Some retirees prefer long-term care insurance or hybrid life insurance with care benefits, while others choose to self-fund from savings or home equity. Each approach depends on your health, budget, and family priorities.
Coordinating Long-Term Care With Estate and Tax Strategies
LTC planning is most effective when coordinated with your estate and tax strategies. At Oxford Advisory Group, we aim to help Florida retirees create coordinated plans designed to help better preserve savings and protect family assets from potential care costs.
Early Preparation Creates More Control
Planning ahead gives you more flexibility and choice — about where you receive care, how it’s funded, and how your family is impacted. Addressing this early can reduce stress and provide peace of mind later.
Long-term care isn’t just a medical issue — it’s a financial one. Early, coordinated planning can help you maintain control over your care and protect your family’s financial future.
Ready to Take The Next Step?
For more information about any of the products and services listed here, schedule a meeting today or register to attend a seminar.
