Laura Peery

Every financial plan is really trying to answer three questions. What happens if you die too soon? What happens if you live too long? And what happens if you get sick along the way? Most people have answered one, usually the first, because it’s the one everyone has heard of. The other two get left for later. Later is where plans fall apart. Dying too soon Your income stops, but the mortgage, the kids’ expenses, and final costs don’t. Life insurance replaces that income. Term coverage is the...

Most people plan for aging in pieces. A Medicare plan here, a retirement account there, maybe a will in a drawer. The pieces rarely talk to each other, and that is where families get hurt. November is National Family Caregivers Month, Alzheimer's Awareness Month, and Home Care and Hospice Month. Together, they point to one truth: aging is a family event, not an individual one. A complete plan answers four questions. Who will help? Name your caregiver and your backup before a crisis, and talk...

Once someone accepts that they need a plan for long-term care, the next question is usually: what kind of plan? There isn't one right answer — there are four major categories of products, each built for a different financial picture, risk tolerance, and set of goals. Here's how they compare, in plain language. 1. Traditional Long-Term Care Insurance This is the original long-term care insurance model: a standalone policy purchased specifically to cover care costs. How it works: You pay a...