Rising Long-Term Care Costs: Strategies to Safeguard Your Retirement

Brian Skrobonja talks about one of the most overlooked pieces of retirement planning — long-term care. He explains why preparing for care isn’t about being gloomy, it’s about protecting your freedom and keeping control over the life you’ve worked so hard to build. Expect to learn how to help prepare for care costs, protect your savings, and enjoy a stress-free retirement with clarity. Tune in to hear how to create a retirement plan that covers every “what if” retirement scenario. Brian starts by explaining why long-term care belongs in retirement plans. Long-term care is the piece that quietly shapes how much freedom you keep. Planning for it means you’re ready for life’s curveballs, not hiding from them.Brian reveals that if you’re 65 or older, there’s a 70% chance you’ll need some type of long-term care. This shocking number means long-term care is a reality worth preparing for. Brian shares what care costs today. Home health aid runs around $77,000 a year, assisted living about $70,000, and a private nursing room close to $128,000. And those are just today’s numbers, not tomorrow’s. Without a plan, those bills can eat through savings fast.For Brian, planning for long-term care doesn’t mean you’re pessimistic about life. A thoughtful plan helps keep your dreams alive even if your health changes.Brian shares Tom and Linda’s retirement story. They built a solid retirement, free of debt and rich with plans. Then Tom had a stroke, and their savings began to drain by $80,000 a year. Their story proves how quickly health events can rewrite even the best financial script.How long-term care shapes your life story. Brian says care isn’t just a medical issue; it’s a retirement event. It can shift finances, lifestyles, and even family roles. Brian reveals that having a strategy doesn’t erase every challenge. But it stops the burden from falling entirely on you, your spouse, or your children. Brian walks through planning choices, from paying out of pocket to using insurance. Each has pros and cons, and your goals decide what fits best. The key is to match your plan to your life, not someone else’s.Brian breaks down the pros and cons of traditional long-term care insurance. Brian reveals why Tom and Linda’s story is a wake-up call. They did almost everything right, yet one stroke changed everything. A clear plan could have protected their savings and eased Linda’s load. Stories like theirs remind us that planning is love in action.Without preparation, kids can be pulled into financial and caregiving roles they never expected. A solid plan keeps their lives intact and gives them confidence to support you. Planning helps protect everyone, not just your savings.How to see long-term care as part of a full life. Brian says it’s not just a health moment — it’s one chapter of retirement. You can decide whether it controls your story or blends into a life well lived. Final thoughts from Brian: He reminds us that ignoring care doesn’t make it vanish. Facing it gives you choice, dignity, and calm for the years ahead. That’s the gift every retiree deserves to give themselves. Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube Common Sense Financial Podcast on Spotify References for this episode: https://acl.gov/ltc/basic-needs/how-much-care-will-you-need#:~:text=Someone%20turning%20age%2065%20today,for%20longer%20than%205%20years https://acl.gov/ltc/basic-needs/how-much-care-will-you-need https://investor.genworth.com/news-events/press-releases/detail/982/genworth-and-carescout-release-cost-of-care-survey-results#:~:text=The%202024%20survey%20found%20the,home%20increased%209%25%20to%20$127%2C750. https://www.healthyagingpoll.org/reports-more/report/long-term-care-are-older-adults-ready Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. ---- BUILD Banking™ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary. Any descriptions involving ...