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October 10, 2020 8:30 am
Hans and Robby go over all your options for where to receive long term care when you are older!
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This is Jim Graham from the masculine jury podcast where we explore relationship and stir the religion every week your chosen Truth Network podcast is starting in just a few seconds to enjoy it. Sure, but most of all, thank you for listening you for choosing The Truth Podcast Network. This is the Truth Network welcome to finishing well brought to you by Cardinal guy, certified financial planner belonged to Schild, best-selling author and financial planner helping families finish well for over 40 years of finishing well will examine both biblical and practical knowledge to assist families in finishing well, including discussions on managing Medicare IRA long-term care life insurance and investments and taxes. Now let's get started with finishing well welcome to finishing well certified financial planner Honshu Island flower it's already October and we are it's it's really neat sure we have lined up for my opinion. It is, like foundational. That's why you and I were calling it right setting the stage to finishing well and and foundational from the standpoint of you know Jesus talked pretty clearly in the sermon out about the wise man who built his house upon a rock right and so involved in that decision on his part is my guess is Hans. It was more expensive to build on the rocket. The real estate up there in the hills were probably a bit more expensive but because he'd made choices right in my opinion choices that please God choices that please God and he planned for storms right at at and so my good friend Hans who was the go to the steep East he's telling us storms are coming this to our and Emma are going to need a foundation and when Anita stage in a plan that that that we feel like God will be pleased with first enforced performance tied spent my career reading and analyzing statistics and specifically when it comes to long-term care and long-term care insurance and it comes to talking to clients and potential clients about we spend a lot of time talking about the odds of going in a nursing home or the odds of needing care and statistics to me are very close to worthless when it comes to me personally because I'm just, you know like if if I need care at some point in my life that I say that I have 100% chance of needing that I don't need care.
I'm not can I know that telling dad but but if I go through my lifetime and I can just completely avoid care. I'm not can I know that I was right about that, with a 0% chance and already be deceased. My family will know about that.
So here I was just, you know three weeks ago.
I think it was at all. But anyway, I was gonna trim my bushes that I failed to read the directions properly keep both hands on the hedge trimmer at all times and in so and I want ham got loose and next thing you know, the hedge camera decided to take a little shot at my little finger which you could see if you look at Facebook at and it seemed like you know yeah needed to be stitched up and yeah it was a bad unit was a bad situation but it wasn't in my view, life-threatening, and already didn't seem like it but the next thing I knew the storm was upon me, because the finger start of infection that went back into my old injury in my leg when I been crushed with the Jeep. The next thing I know my leg swelling up my blood counts gone high and so, oh my goodness, you have to do that for China buzz antibiotics. The biotics caused the diverticulitis flare up. Next thing you know I'm in the hospital with this thing and end the storm is upon me, you know, just very quickly and it's amazing how quickly things go downhill, but this is a movie that working to see time and time again and you know, have we build our house on the rocket.
We made plans for what this might look like yeah so today were going to really dive into where are you gonna receive this care if in fact you do need care. You know where I'm at.
Go back to the statistics is this pretty good chance if you listen to the show and you're in your 50s 60s 70s 80s 40s at some point in your life you really need help with the basic stuff of life, you need somebody to watch over you carefully by I express that just last. I need somebody to take me to hospital with my wife was leisure I have that you just 65 years old, but I can imagine something like this happens to you when you're 82 is going be a whole different movie exactly, but the nice thing about the first level of the first stage that we want to set would be the one that clearly I would want to fall in nor my family is doing the caregiving yeah and so will talk about today is we really have several different settings that were going to talk about her and talk about family caregiving and talk about home healthcare homemaker services, adult day care continuing care retirement communities assisted living and nursing homes. So we got a lot of ground to cover so let's get started. So the first category appear were talking about family caregiving, and this is where most care all care starts when you're at home right or you just been released from the hospital pretty good chance before you went into the hospital. Some your family did some family caregiving below just say they didn't just when I can give credit to the exit when you could be that they're not can send you home from the hospital or release you in less somebody in the family agrees to be there with you for could be your spouse when your adult children, but it just so family caregiving, and that's one way that it happens another ways just real slowly over time where people don't even realize that there is a caregiver for their spouse but just at some point it starts out we're doing things for them that they can't do themselves to very loving thing starts. It starts out that way and I have many clients that I've helped the candidate do that for each other, you know, told the story about my mom where she was a essentially a caregiver for her friend that was that. She described my mom is nurses 60 years or whatever and she was. She described Betty as an invalid.
Okay, your friend, but she was an invalid and my mom initially befriended her and she was taking care of Betty had trouble getting out of the car and my mom would drive her to church and driver to the grocery store and driver to weathered play cards and just when it whatever else they did and then as my mom developed memory problems in Alzheimer's and that's a progressive thing and I was down there. You still wondering whether my mom should drive and I was riding in the backseat with my mom driving petty riding shotgun in my mom or I helped her get into the car and I realized that between the two of them they were caring for each other is my mom knew how to drive she just didn't know where they were, or when they were going to get there how to get there. Betty couldn't drive and she couldn't work the steering wheel on the break in the gas pedal and the turn signal. But she insisted between the two of them. They were like driving Miss Daisy so you know there are couples older couples that there essentially caring for each other and there's a point where when it's one person taking care of another person, and many times it's a woman might be a year or two younger several years younger taking care of the man who tend to get sicker at a younger age. That's why you don't see a lot of the men in these in their 80s and 90s. In these facilities are the percentage of their mostly women, because the guy died several years ago and she took care of him and now she's in the place so we talk about family caregiving. It's just the statistics on this are huge is that that's your first point of contact and word becomes a problem is when the healthy caregiver is getting sick themselves and their giving run down and they're not taking care of themselves and they're not able to do effectively the things that need to be done Are you may be the child that really it's gotta be able to take care of their own family and their own work and there's there's distresses on this thing that that you really don't want your chin children to have to face in orbit or your spouse sure. And so that's part of what pleases God is from my perspective as you go okay when this reaches this level, you know how to call the Calvary until the next category were talking about home healthcare, and so home healthcare is talking about here is professional home healthcare home healthcare that's delivered through a professional agency and that in many cases.
In most cases insurance will pay for. If you have the right kind of insurance to prepare for this.
But before we talk about the insurance. I will be on some of our later shows.
We just want to talk like what is in its mostly delivered by home health aides professional train home health aides in there helping you with bathing, dressing, just those of the two easiest criteria to meet toileting, transferring, and then once there paying for that, or once the insurances you're getting that. And if you have insurance for this. They have a thing called homemaker services within those home healthcare agencies where there good you don't mow your lawn, clean your house and go shopping for you. Take it to the doctor so closer. Typically it's another category on our list here of homemaker services typically administered through a home healthcare agency and you can't really get the homemaker services unless you qualify for the regular home health aide healthcare. So we've got a lot to cover. As you know them today show, setting the stage for finishing well wait. We got a lot more stages to set more stories and again in of the ideas what what kind of rock would please God that we set up not only you know that we would be able to talk to our spouse, but actually bring our children in the equation and say hey these are the things that were planning guys. You know when these swimming storms in our family and this is this is these are in conversation is not easy to have but nonetheless necessary and were so grateful Hans that you're goading us into these so as always this is brought you by Cardinal guy.com you go to Cardinal guy.com find Hans's book the complete cargo guide to planning for and living in retirement versus having well in the email and there we got a lot more finishing well today show, and upstate. Hans and I would love to take our show on the road to your church and Sunday school Christian or civic group. Here's a chance for you to advance the kingdom through financial resources and leveraging Hans expertise and qualified charitable contributions veterans aid and attendance IRA Social Security care and long-term care. Just go to Cardinal guy.com and contact Tom to schedule a live recording of finishing well at your church, Sunday school, civic group contact time to Cardinal guy.com that's Cardinal guide.com welcome back to finishing well, a certified financial planner Hans Schild today show setting.
The stages to finish well in the different stages that are involved in.
When we left our heroes, they were at the home healthcare stage yet what we were talking about the settings that you received.
From I get back to the language that the people in the industry to deliver this third note. So one of the settings and we've Artie talked about family caregiving, which basically means your family thing. Which is going to be part of everything and all levels of care in all settings or can involve your family. It's not like they're going to be kicked out to the curb or something so family caregiving, home healthcare talked a little bit about that we talked about homemaker services, or what are generally incidental benefits in long-term care or home healthcare policy. The homemaker services are a incidental benefit and then next up is adult daycare so what is that is just if you think about the daycare that you use when you're younger person with young children.
When you take them there. They stay there all day and then you pick them up after you're done with work now you're adding another element is first of all your 20, 30 years older than you were when you were taking your kids to daycare and now you're taking your mom or dad to daycare is typically what it is and he gotta get them ready guy, get yourself ready and then you got an extra stop on the way to work and you gotta get them in their gotta be responsible for Miguel be ready to go there if they have to be picked up or just like your kids, but is not your kids know it may seem difficult to get your toddler in their car seat and get them home and they were sick or something, getting ready for that you try that with her parents and many of you know what I'm talking about and then you get the health same thing in the evening in reverse but nonetheless these bodies are wonderful places something they they really look forward to today have social activities that healthcare is basically sit and listen writing whenever they need during the day disastrously thick map memory care that Alzheimer's sure stuff like that.
We just can't label on that you just can't relate things they need to get up the Fed they may be told when to be fed and windy and serve some to need somebody to sit there with them, help them along. Talk to mother doing that because as I guys go back to how easy it is to just fall right and that fall if it's like me could start a whole chain reaction did my death case for can lead to all sorts of things that that that if you can avoid the fall begin with, you know, with more consistent care and allow the same bank so the national average for adult daycare 75 bucks a day to be last in your area could be more. That's the national average for adult daycare, which is three and 75 bucks. We I'm guessing probably similar to childcare.
Yeah, continuing care retirement communities is the next category CCR season know what that is, as it is really kind of an old term of these places many times you get a big downstroke of money to go in there sometimes not, we had my mom and up and see CRC and they didn't have the hundred or $200,000 deposit. They had more like a $12,000 deposit for her to get in and then they had high rent and that so there you have an independent living or you can move into a cottage on apartment or something where your basically living independently in your have access to meals in the common meals and their Genzyme spices are beautiful and then you got the assisted living, which is usually a completely separate section.
And that's where you need help start the look and feel like a nursing home. But it's not because it's nicer now and it's so it feels more like home, but it feels less like home than your independent living. Cottage did and then you know beyond that you got your beyond assisted living when you're going to have memory care and a full-blown skilled care nursing home wing and allow these places and they vary as many result tons of variances but the point is is that the setting you can move there retire and you can have multiple different settings, all within the same facility so want one of the things that has been developed over the last several years is the assisted living facility. Many of these around and many of these are very nice, though I thought Donna devotion that one in Marksville for 20 years and now a lot of times we see couples coming in out and then after allowing for same.
Usually last night and then the ladies left and then over.
Time mixing on a she's gone and they've taken off no because she can no longer even function assisted living. So fortunately clearly for the ones that I'm another family had set some kind of plan in effect they had options because they had invested the money to know that the stars were coming in and so they had built essentially bear finishing well house on the rock tour will my plan and my choice is home healthcare and I intend to finish well there at home. Now she's got driving out to to an adult daycare just just get away from me, even though we got home healthcare people there during the day than so be it but but but I would just say that when that doesn't work anymore for whatever reason that I'm saying, choosing, assisted living, you know what I really want to because it just began at my father in the very last stages of his life. It was all at home.
I mean, he chose it was like any other management that was his choice is no, I don't want to go back to hospital stay right here and we had all his people come in and the same kind of physical therapy people the same kind of people help in getting out of bed. The people that did all the stuff they came in the house on stamp me I am friends and people that I know very well that own and run these home healthcare agencies in they can take care you from first day you need care to where you call the undertaker at the end of the deal system daycare in the hospice people are great help and insurance will actually pay for that and Medicare will to.
In the end of the come right in your home and in let you finish finish. Well, I mean finish with them in your in your house so you know when you go through is what we got one more category which is the traditional nursing home and this is the buggy that people really are going to shut down the conversation when I'm going to have them in this could be the point you turn the dial offer you changeover to a radio show that plays music or something is up and heard her talking about nursing home because it's it's it's a place that nobody wants to go and what I'm telling you is you. You don't necessarily have to guy that doesn't have to be in the picture. If you plan well and it takes us back to the beginning of the show where we talked about choice and the resources that you've worked so hard for, and that you saved in the income that you have in retirement.
And when you get in this situation where your needing care which you probably will. It's nice to have some choice in this. A lot of people look to the medical professionals to just tell him what to do what you need to go to a nursing home or you need to go home.
Or, you know, the summer has to go with you and I'm telling you that you can challenge those people. You don't have to do exactly what they finally did with Micah. Eventually we just had to say no I didn't get it anymore sure and and the economy was he was not having a plan and that's with the family comes in where we talk, family caregiving, and having a plan that all involves your family are we doing planning and financial planning, long-term care planning, estate planning, as we involve the family right now, we get the powers of attorney so they can going to do that stuff for you and they can act legally and they can say no IEEE in going over the place gone home and work in a higher home healthcare privately and we know Medicare doesn't pay for. That's why we have this insurance that does where he got that set up so that's what were doing it so you just it's having that ability to make choices or have your family able to make choices that are good for everybody right cousins. You talked about. We really know. I know in my I want to please God and I and I know I got really concerned not just about how I finish well but the stresses that go on the caregivers in my family and in what we can do to make arrangements ahead of time so that is I do have a dear friend that you ended up in that nursing home because he actually put kids first by don't start all too well at end the suffering that they saw him go through. They were wishing that thou that didn't happen and and I don't guide. I can't believe that the God was pleased as he saw what I'm What all happened as result of this particular plan and and so if they'd sat down and done this, you know, I just think the heartbreak that all these people endured were not about to happen. Sure this to the client lists the show regularly because he just became client is almost 99 years old.
Why say seven there great help them understand their own and their home is two thirds of their all assets and the other further assets is still an IRA and they don't really have much money, that's not an IRA and savings and she's outlived many and most of his friends and they lived in all these different things up and down the list are in this fellow has lived a good life and that an executive and in and PT even said to me said you know I'm not.
My doctor tell Mama live 200 and I somehow trauma lived 100 that I got all the turning to enjoy.
And so in the real problem that he came to me with is the note they want to stay in their house. They don't want to go to assisted living or an independent living in one of one of them has to go there house you can pay for and you know it was really fascinating to me to sit down and talk to somebody at his age still in great health and it's a pleasure to me to help them solve the problem and work onto to some fairly simple solutions and he wants to stay at home they like her house. They like with a live one gets sick the answer to this is working to be utilizing home healthcare and I think there to finish well at home. I think about that was that had my dad in the best facilities for last three weeks of his life or whatever it is unthinkable to me on times really glad that that you know we had the resources of Targa guide Cardinal guy.com the complete cargo guide to planning for living in retirement. You know, the idea is to please God and finish well. How can we build our house on the rock will help you do that all you do is go to Cardinal guy.com you can order houses book organelle asked for a counselor and he would love to help you finish well.
Thank you for listening.
Thank you. We hope you enjoyed finishing well brought you by Cardinal guy.com visit Cardinal guy.com for free downloads of the show or previous shows on topics such as Social Security, Medicare and IRAs, long-term care, life insurance, investments and taxes as well as cons best-selling book, the complete Cardinal guy to planning for and living in retirement and the workbook once again for dozens of free resources past shows to get Hahn's book go to Cardinal guy.com if you have a question, comment or suggestion for future shows. Click on the finishing well radio show on the website and send us a word. Once again that's Cardinal guy.com Cardinal guy.com. This is the Truth Network