Map Your Money
Map Your Money aims to help you make smarter financial decisions.
Hosted by Jaime Benedetti, CFP®, CEO of BEAM Wealth Advisors, and Jeff Cone, CFA®, CAIA®, CIO, the show combines real-world financial planning experience with institutional investment insight.
We break down what’s happening, why it matters, and key considerations that are often weighed over time.
Map Your Money
#37 - The $113,000 Retirement Risk Nobody Wants to Talk About (Long Term Care)
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What if one of the most overlooked financial risks in retirement isn't a market crash, but the potential cost of needing long-term care?
In this episode, Jaime Benedetti and Jeff Cone explore the financial realities of long-term care planning. They discuss what long-term care actually is, the situations that commonly create a need for care, and why many families misunderstand what Medicare and Medicaid may and may not cover.
Jaime and Jeff also examine why long-term care planning is often an important consideration for middle-income retirees, review how care expenses can affect a retirement plan, and explain how traditional and hybrid long-term care insurance solutions are generally structured.
Whether you're approaching retirement or helping aging parents evaluate their options, this conversation offers practical insights to help you make more informed planning decisions.
Topics Covered:
• What long-term care is and when it may become necessary
• Common misconceptions about Medicare and Medicaid coverage
• The potential financial impact of long-term care expenses
• Why long-term care planning is often an important consideration for middle-income families
• Traditional and hybrid long-term care insurance strategies
• Key factors to consider when evaluating your options
Content is provided for informational and educational purposes only and should not be considered personalized investment, financial, tax, legal, or insurance advice. Any examples discussed are hypothetical and for illustrative purposes only. Individuals should consult their own qualified professionals before making financial decisions.
Source: Genworth Cost of Care Survey (2025). Costs vary significantly based on location, level of care, and provider. Example shown reflects private nursing home room costs in Georgia and is for illustrative purposes only.
Watch on Youtube: https://youtu.be/J3BW9Cov-DA