Long-Term Care in New Jersey, Episode 362
Long-term Care in New Jersey is expensive.
Tom shares an example where eight years of LTC in New Jersey ran $1,000,000.
Long-term Care often happens when individuals reach their 80's. With a five-year look-back period, proper planning should be happening when individuals are in their 70's - or even late 60's. Only you will know the right time to begin planning for elder care.
It's important to keep in mind that with the 5-year lookback period, Medicaid will research every single financial transaction for the previous five years.
Assets transferred out of your name prior to five years before the Medicaid application should be OK, and not counted toward your ability to pay the cost of LT care... whether in your home, or in a facility.
Long-term Care is easily one of the most frequently asked topics when planning with our clients for the future.
Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. We act in a fiduciary capacity with our clients at all times.
Our family of investments advisors (Tom, and his three sons - Brendan, Tim and Casey) are all CFP® Professionals.
To our knowledge, we are the ONLY family firm - in the nation - with four fiduciary, fee-only investment advisors who all have earned CERTIFIED FINANCIAL PLANNER™ certification.
Tom Mullooly is an investment industry veteran of over 35+ years. The "Mullooly Asset Show," has over 350 episodes and over 450 unique podcasts, which can be found on the site https://www.mullooly.net.
The "Mullooly Asset Show" answers questions and cover topics that YOU bring up.
Our topics and questions range from those brought up, or sent in, by our viewers.
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None of the content on our videos, podcasts, website or social media should ever be considered to be investment advice, financial planning advice or a recommendation to buy or sell investments. Nor should our content be considered research. Please our website for complete details.
This video is not a recommendation to buy or sell any of the investments mentioned. None of the securities mentioned in this video represent past specific recommendations of Mullooly Asset Management.
We rely on fundamental and technical analysis. Neither fundamental or technical analysis can predict the future, both methods have flaws. Past performance is no guarantee of future outcomes. Any Point & Figure charts used have been provided by our good friends at Dorsey Wright & Associates.
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