Click the following link to a pdf with my comments on a Journal of Accountancy article: Meeting the financial planning challenges of the future. My comments are from a fiduciary viewpoint in response to article discussions about robo-advisers, use of long-term cash projections, and spotting and planning for dementia. This is a good article, although short in length, and it does not purport to cover these issues entirely. In any event, every situation is different. Click on the following link: Tate comments J of A article meeting the financial planning challenges of the future
I found this article today – discussing that the “system” for financing, i.e., paying for, long-term care is crumbling. Click Here For Article.
I just have to say, that isn’t news. Long-term care is unbelievably expensive. Husbands/fathers, wifes/mothers, and their children have been paying huge costs for long-term care for years. It’s expensive in an outside facility, and at-home care is expensive. And then sometimes there are issues relating to the level or manner of care provided.
I’m not an expert on the financial aspects of the long-term financing programs. But I can hope that at the governmental level we have some legislators who understand it and who have developed a strategy for the long-term sustainability and improvement. But I never hear anything that sounds comforting or impressive.
Dave Tate, Esq. (San Francisco)