Planning for Long Term Care Key to Protecting 401k

With the ups and downs of the stock market many people are concerned about their future retirement savings. One area many people don’t plan on is Long Term Health Care costs.

Matt McCann, a nationally recognized specialist in Long Term Health Care Planning, told a group of IT professionals in Cincinnati that protecting their 401k’s, IRA’s and other assets is easy and affordable. 

“I know you pay close attention to your retirement savings. You keep your investments diversified. You contribute to your 401k’s. However, a Long Term Health Care event, which can happen at any age but increases as one ages, will devastate your retirement planning. It will have a significant impact on your lifestyle, your spouse’s lifestyle and create an emotional and financial burden on your family,” McCann explained.

McCann told the group an affordable plan protecting assets from the financial costs and burdens of extended Long Term Health Care will provide a large amount of peace-of-mind in an unpredictable world.

“We know the advances in medical science push lifespans to even older ages. We survive health events and accidents more today than ever before. The problem is it is harder than ever to die … this results in many more people requiring extended custodial care which health insurance and Medicare will not pay for. This issue of aging has to be part of a retirement plan,” McCann explained.

Long Term Care Insurance, which can help pay for these costs, is very affordable as more people in their 40’s and 50’s make it part of their retirement planning.

McCann noted a recent White House Conference on Aging (WHCOA) Report indicated Americans have a very high risk of needing help with activities of daily living or supervision due to memory issues.

The WHCOA report said a person turning age 65 has a 69 percent risk of needing Long Term Health Care services for an average of three years during the remainder of their lifetime. The report said many Americans are unaware of this risk.

“This is why affordable Long Term Care Insurance should be part of your plan to address the physical, emotional and financial burdens that come with extended care,” he said.

McCann noted the internet has a number of good resources which consumers can learn more about LTC planning. These sites include:

This site is run by the US Department of Health and Human Services site on LTC Planning and information:

This site has news stories, videos, links and other resources:

LTC Planning News:

This is the site run by the American Association for Long Term Care Insurance. It includes a large amount of consumer information:

Matt McCann’s site has a strong educational section and other resources:

“Protecting your assets from the financial costs and burdens of aging is one of the most important things you should consider well before retirement to take advantage of your good health and low premiums,” McCann explained.

Consumers can also reach Matt McCann at 866-751-7957. Consumers can obtain free quotes from all the top companies at:

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