[Topic is now in Personal Finance (Not Investing) - mod mkc]
I have LTC insurance but my wife does not. I am 69 and recently retired. She is 67. I have deposited 50K in SCHG (Schwab Large Cap Growth) specifically earmarked for her possible long term care needs in the future. I am not counting this money as part of our 60/40 AA portfolio that will be used for our retirement withdrawals. Obviously have no crystal ball as to if or when she would need LTC, but if she does require it let's say in her early eighties there will hopefully be over 100K in the account (depending on performance, of course). My question is do most of you carve out some of your portfolio strictly for LTC and not count that as part of your retirement AA portfolio or do you just have your portfolios and if LTC is eventually needed just take he money out from wherever. Also, my plan is to eventually sell some SCHG little by little (so to have minimal tax effects) and buy some bonds as she gets older to decrease volatility. Am I making it more difficult than it has to be by keeping a separate LTC account? Thanks for all your input.
I have LTC insurance but my wife does not. I am 69 and recently retired. She is 67. I have deposited 50K in SCHG (Schwab Large Cap Growth) specifically earmarked for her possible long term care needs in the future. I am not counting this money as part of our 60/40 AA portfolio that will be used for our retirement withdrawals. Obviously have no crystal ball as to if or when she would need LTC, but if she does require it let's say in her early eighties there will hopefully be over 100K in the account (depending on performance, of course). My question is do most of you carve out some of your portfolio strictly for LTC and not count that as part of your retirement AA portfolio or do you just have your portfolios and if LTC is eventually needed just take he money out from wherever. Also, my plan is to eventually sell some SCHG little by little (so to have minimal tax effects) and buy some bonds as she gets older to decrease volatility. Am I making it more difficult than it has to be by keeping a separate LTC account? Thanks for all your input.
Statistics: Posted by drspine — Fri Nov 01, 2024 4:23 pm — Replies 14 — Views 815