Planning for home

This is Robbie Gilmore from a Christian card I am king in pursuit where we hear how God takes your passion and uses it to build the kingdom your chosen Truth Network podcast is starting in just a few seconds. Enjoy it and share it but most of all, thank you for listening and for choosing the truth that work your listening to the Truth Network and TruthNetwork.com. Welcome to finishing well brought to you by Cardinal guy, certified financial planner Lonza Schild, best-selling author and financial planner helping families finish well for over 40 years of finishing well will examine both biblical and practical knowledge to assist families in finishing well, including discussions on managing Medicare IRA long-term care life insurance and investments and taxes. Now let's get started.

Finishing well welcome to finishing well with certified ratio of this title, there's no place like home healthcare, especially in today's environment. You know I think it's more than fascinating that the Jewish Torah or what we now know as the Bible.

It starts with the letter that doesn't seem to fit. When you first look at it like why would the beginning of the Bible, start with this letter and the letter is a bat which in Hebrew is the word for house and with the Hebrew seed sages teach and I think very much the case of course you know that the Bible starts in the beginning but the letter there that starts in the beginning is called bear sheet and its E sound.

That means house and they teach that God wanted a place where he could call home where he could take his shoes off and be himself and interestingly, when it comes to healthcare, especially in today's environment. Hans you know that's exactly what I look forward to is being able to get that care in a place where I can take off my shoes in the end be myself as a really this is no place like home.

He ended today's scenario I just had a minor procedure done Friday will route to outpatient surgery and I spent the whole week going over to do to get tested and screening didn't the people got the hazmat suits on the glass over their face.

It is really something and just actually the surgeon that I went to visit the Duke cancer center because I had this thing that involved my skin. My dermatologist referred me to the best surgeon around and she's in the in the Duke cancer center and just this covert thing has just changed everything in the run in the hospital and they got to be cautious.

Otherwise, people wouldn't go there. John is not a very homey feel, or does it very warm and and and so all the sudden you know you made it a great point as we were talking about doing this, that if if we walked in the trees broadcasting and we did a survey of you know, asking each person here. What is in a home healthcare and in what would that actually look like there be few people that knew and who would you call me just after you answer that question in most people would not be able to answer the question that if they could really try to come up with something you say will you needed it or your parent needed it. Your brother or sister who would you call and most of them just don't know all the reasoning on the phone today as I had this procedure last week and then I woke up Tuesday morning with a whole bunch covert systems that symptoms such as I had that headache and the holistic amount really need to go over them in the air, but I was very very concerned that I had caught covert having the surgery because I read in five days after the incubation period.

Anyhow, I went did a covert test yesterday and I got the results back this morning and that's why were on the phone. You and I and thank God for the prayers that you know that I received in that that I'm not positive or whatever is going I'm in the clear. But it really woke me up to just quit. People are facing, you know, in these in these nursing homes and if you look at all the statistics around the country of that of the � a lot of the people who died of coveted and they maybe died in a hospital, but before they went to the hospital.

They were living in a nursing home or assisted living or some type of facility and has really sad because just this week.

Many people know me well know that for years and years. Actually, since the year 2000 for 20 years I've gone into an Assisted Living Pl. in Marksville that was right behind the dealership and I did a devotion every Thursday morning and I would tell my jokes and I have these papers that I would always handout that had the job so they can laugh later and I was known as the man with the papers and of course come March they would let me in the nursing home.

Understandably, and so this week as I sent off my jokes as I do every week as they still are asking for the just. I was like whoa when you think I'm I could come back you know because I miss my friends and I love a minute you know and she said oh Robbie, I don't.

I I doubt if if you come back before the first of the year, if ever in Anaheim like what I mean. My heart just went like oh my goodness, you know that's how I feel. I can imagine how the people feel that there are that get no outside visits and and they don't have any social interaction. It's it's it's something that says wow. The game has changed in the planning needs to change. Well it does and I think that if were able to get over this and we look to the future.

This is going to have a long-term impact on us because because this is not necessarily a new problem where people catch something in the facility therein, and then they ultimately die from that disease that they caught in the facility I and so where all this is leading the discussion in the show today is preparation and planning to receive your care when you need it you want to do that at home Like a first hand experience.

When I finally got my dad out of rehab and and I realized how these people come right in your house till Hapeville help your dear my dad with toileting.

They'll help him with transfers in and out of the bed they'll help him with his medications that will help them was wound in intensive target bedsores and and all my lab and get dressed right will prepare meals for him. They'll really allowing to keep it independent, which is valuable to older people. They they they want to stay independent and you know what I'm sitting here at 62. Looking forward, I want to stay independent and so what I want everybody to know is there's the care is out there.

Just as an example, and I'm sure you've all seen and for those visiting Angels there.

One of the national firms or does that measurement there's a whole bunch of John London supports and she's the spokesperson for another national company such the care is out there, but it's custodial care it's it's it's somebody who is a professional, but they're not giving skilled care.

They're not going in and doing things like respiratory therapy and physical therapy. There really helping you with the bath, get dressed, get transferred.

Clean your house getting your meals there some socialization involved just this kind of the whole works at somebody taking care of, and a lot of this is provided by family if you're fortunate enough to have healthy enough family and a just if you have a spouse than than you know you we can wind up with two sick people and there's a lot of 87-year-old spouses taking care of their more sick or more needing care 87-year-old spouse and that doesn't go very well. This is very taxing work and so here's an opportunity right. This is is a caring child or your spouse to really begin the plan.

While this is this is a movie that is coming to a theater near you and I don't mean that to make light of it is just that. Oh my goodness, I really see this course my age being 65.

I see them on the horizon than I ever did and in and so what can we do in preparation for this before the you know the barn catches on fire yet and Emily. So if you're in your 50s and 60s, maybe even I just had a lady that purchased one of these hybrid long-term care policies yesterday. This 49 and that we certainly have clients come to us in their 40s but your 50s in your 60s and you still have your health or you could have one or two chronic illnesses, but they haven't progressed to a point where the insurance companies can attorney down for coverage based upon your health.

You got a whole lot of options to plan for this financial starting with traditional long-term care just the old-fashioned, but by a policy that pays benefits for home healthcare or a facility if we have to go there and then there is hybrids where people can pay for with a single premium to transfer money out of their IRA. All that we talked about extents extensively and finishing well and even in your 70s if you got health which is still reasonably good and stable.

There's options on either the traditional long-term care or especially the hybrid. We haven't talked a lot about the recovery care and recovery care home healthcare policy like you purchased on yourself Robbie and those are available all the way up to 90 and you can still have some health conditions and get that covered and it's it's wonderful to have a fear needing care I took today show is about all of that, but it specifically what we wanted to talk about is the people who you know have illnesses in the have a need for care that makes them not able to qualify for any of those policies. We still have options for my son when we come back we got to go to break.

I'm sorry� And listening to finishing well certified financial planner Hans child across all this information is available in his wonderful book the complete cargo guide to planning for living in retirement, which is their available cargo guide.com as well as just email hunting can really send out to you how that works so we come back just to get into, what happens when things get really Hans and I would love to take our show on the road to your church, Sunday school, Christian or civic group.

Here's a chance for you to advance the kingdom through financial resources and leveraging Hans expertise and qualified charitable contributions veterans aid and attendance IRA Social Security and Karen long-term care. Just go to cargo guide.com and contact Tom to schedule a live recording of finishing well at your church Christian or civic group contact contact Cardinal guide.com that's Cardinal guide.com welcome back to finishing well with center funds certified financial planner Hans Shiloh today show is there's no place like home healthcare so you might have heard it is long-term care about your hope in its long-term care at home it off all possible and resources along those lines, but you know right there at the end of that last segment.

Hans you are talking about a situation where listener called in email. You guys actually Rhodian yeah and it was real obvious that the solicitor had been watching my stuff and listen to the shows watching the videos on the website and she basically wrote in the she's she's ready to buy short-term care on her dad yet Parkinson's and dementia, and she really thinks it's time bring in outside care and so she wants to may give her a call and it started with that and you know it's it's real discouraging for me to just an unfamiliar dad 86 and and and he just is not can be able to buy short-term care with Parkinson's and dementia and brings out a lot of questions like this taking care of them now and I don't know that yet. I'm gonna find out that I'm guessing that somebody's there with him now really have to be with somebody with both of those illnesses would be very difficult for them to be living alone with her daughter in another state and so I'm guessing it's it's a spouse. This taking care of and/or it might be a another sibling of her so I need to find all that out, but I had to deliver the news that you just he won't be able to buy what you're asking for. But I also think that he possibly could qualify for some of these other coverages that we have that really the only questions are going to ask him.

And screening is is somebody caring for you now or do you need help bathing, dressing, eating, transferring, toileting, that sort of thing and at.

I have a sense that does need help with those things now and that's can it disqualify him from even these policies and memberships that we have thought so II don't think were going to be able to help him.

Even with those I want to talk up a little bit about those because of many people we can help them.

So to be able to help her because I will want to find out the answers all my questions like who is caring for now and then I want to encourage her to access facilities, resources, something like visiting Angels or the local version of them up there where he lives and you know I would want to encourage. He has the assets and the money to spend it on this care, and then help her and give her some tips to negotiate with them.

Perhaps call a couple three of them up and go do an assessment of father and just be prepared to spend his own money to pay for the care and that you know I don't know what her situation is, or is situation but I can tell you that 86-year-old person talking them in the spent pan 25 bucks an hour for somebody to come help him is an easy sale now sent with my father.

But the other thing that that you know and I love the advice of call these people because they may know angles of other resources that are available in their particular markets or something that they might do with Medicare or something that can help a little bit at least offset some which are, and you know I want to encourage her to keep him at home is legitimate reader email he still known so that's good. Somebody is caring for.

I would guess.

And then that somebody we really need to talk to them. Then we also need to find out what planning they've done.

If it's a spouse for when they get situation because he's not can be able is if it isn't wife that's providing the kind of limited care.

That's why she's can bring somebody in that situation may be a lot worse than she even thinks it is. And then secondly if we start spending their money to pay for his care to help both of them. Then what she can do for money for paying for the same care when she needs it, which might be a few years from now and so we gotta sit down and assess her and get her some insurance to protect her and then with him. We just need to get the care and get it in of the best care and get it at the best price and most reliable and good good company doing it and we just need to encourage her to spend their own resources, providing there are restrictions of Manama need inquire about all that. So I mean everybody needs to plan for this and not as part of the reason I love the show.

Hans is he really gives people an idea to look at a world that that a lot of the seven say East and wow how wonderful it would have been in hell for me to have heard the shelf two years ago before I walked into some of the stuff that I walked in I feel like I could have helped my father more and I really mean my hope was that he would never need anything like that and I just hoped on it without ever planning and so then you find yourself there, and now anointed sure so. So let's talk about another client so we we know what were able to do for somebody who is in very poor health.

There needing care, but they're not getting here yet.

Okay. I mean it's just may get a little bit to help from the spouse or from the daughter but they're getting around in there making it just fine that these people can see the writing on the wall and so we actually have insurance that we can write it provides 360 days of skilled care. So which is really going to keep you out of a nursing home or it will enable you when you're leaving the hospital to actually get what you get in the rehab to get that privately and get it at home so it provides benefits for that and it provides 60 days of what is called custodial care and 60 days of an indemnity benefit. And you know I don't sound like very long until you needing care and if you needing care. 60 days is a lot better than zero days and if you know it gets it somebody started and get somebody coming out there and help in them and perhaps you can space the days out. Regardless, it has a benefit that is very useful and has a very easy qualification just means are you in a nursing home or assisted living, are you receiving home healthcare from an agency now if you if you receiving that you can't buy a spouse and that that's kind of it. That supply sold it to a gentleman that had as ALS and I sold it to people with severe back problems and kidney problems and look but they weren't getting any home healthcare so and they were any of those facilities so they can buy it now and it's a blessing and then added that what we found and we worked with his membership company called true freedom healthcare and get really has no health questions and has no age limit so you could buy this in somebody in their 90s and you're buying the lifetime membership hours of home healthcare so they they send in the care they provide the care and it's got number of rules with it that I would want to try to explain on the air but you're able and again it has a question if you receiving this care now. Even from a family member size sling your family has to help you get out of bed help you move from chair to chair help you get dressed you basically help you with it. Activities of daily living. If you getting that help from a family member, you can't buy this membership tank has a very clear question that we have to ask, but there's a lot of people that get a little assistance with that, but it's not completely necessary over they could do the stuff on their own in the that's the only determining factor for this thing.

They can they can buy a block hours and they can get some help.

That way, and it's been a real blessing for me in a week written a number of these memberships in combination with an insurance policy that pays for 60 days and it's just been a real help to some books and Claire called accidents.

Wow if we'd only been at when we're 49, 61, or at whatever point before and it becomes no emergency. It it's a lot better planning gives you more options well in almost every case where we take care of this person there married and you know where we've written a lot of these plans it's the guy it's the main and the woman is in good health, or reasonably good health. Depending upon her age and we've been able to write her the same policy that you thought which is a recovery care policy that can give you a year of home healthcare in a year of facility care, which is which is great and and you know you can buy those policies all the way up through age 89, and we've we've written among people and offer anybody 89, but I know we've written somebody 88, and we've written a bunch of people in their 80s who just has some basic questions so if you got if you just had a stroke six months ago and you you you can't even buy that policy. But if he had a stroke four years ago and you can get around is a certain basic level, you might be able to buy that policy. So you know a lot of these cases were just doing this one program for the person who's in very poor health, needing the care pretty quickly here and then were writing some other insurance on somebody who still up there in the years and not necessarily in the greatest health were getting them covered on something so that they'll have really good coverage when and if this happens you can see that there's a lot to this topic.

And so it's it's a Lotta resources@cardinalguy.com don't forget the guide after carnal and in there you can get a free PDF of the of the chapter that were talked about today long-term care or you can get the whole book just email Hans.

We got lots of previous shows on this topic.

You can listen to.

Of course the podcast page. It carnal guy.com or just tell Siri on a list of finishing well podcast const wow I I know there is so much we have to learn and so grateful for the time that you're investing in us in being able to figure out how to finish well.

It's awesome yeah in a you know I just discovered it woken everybody up woken me up in you know this is this is coming in our lives. This is the season in our lives. In the earlier you begin planning for it and then the earlier that you allocate some of your retirement resources toward that. Whether that's an annual premium or its lump of money within a course which you can afford it, it's really good feeling knowing that you're prepared for this and just knowing that at least you're prepared financially to where you'll be able to call on something to just call the people and you'll have services after thanks Hans we hope you enjoyed finishing well brought you by carnal guy.com is a carnal guy.com for free downloads of the show previous shows on topics such as Social Security, Medicare and IRAs, long-term care, life insurance, investments and taxes as well as constant best-selling book, the complete carnal guide to planning for and living in retirement and the workbook once again for dozens of free resources past shows to get Hans book of Cardinal guy.com if you have a question, comment or suggestion for future shows. Click on the finishing well radio show on the website and send us a word. Once again that's Cardinal guy.com Cardinal guy.com