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Independence or Assistance: Planning for the Financial Impact of Your Long-Term Care
Content developed by CUNA Brokerage Services, provided by Dwight Lee & Jason Persinger

Without careful planning, you may exhaust your assets simply trying to cover your expenses during the "sunset" years. Consider the following strategies to help manage or reduce the cost of maintaining your independence while ensuring you have the care you will need throughout retirement:

Hired Hands
If the daily upkeep of your home proves to be more challenging than it used to be, consider hiring a cleaning service, a local lawn service, or contacting a meal service. And if you require more supportive help, there are many community-based services available.

Consider Relocating
If the single family home with a yard and driveway is too much to take care of, consider relocating into housing that was designed and built for the aging population.

Get the Least Amount of Care You Need
If you do need more care and support than you can reasonably get at home, seek a supportive care facility that matches your needs. Nursing homes are designed and staffed for varying levels of care. The more medical care that's required throughout the day and night, the greater the cost may be.

Plan Ahead. Consider Your Options.
Neither Medicare, nor standard health insurance policies, fully covers long-term care. That leaves many people with two options when faced with such expenses: pay out-of-pocket or rely on private long-term care insurance.

An Essential Piece
Long-Term Care can be an essential piece of an individual's retirement plan. However, it is not for everyone. Consult an experienced financial advisor to help you outline your options.

Dwight Lee and Jason Persinger are Financial Advisors with Members Financial Services Program located at NuVision Federal Credit Union. If you have any questions, or would like to provide feedback, regarding the information presented in this article, you may contact Zack Seitz at 714.375.8151 or

Representative is not a tax advisor or legal expert. For information regarding specific tax situations, please contact a tax professional. For legal advice, consult an attorney.

Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Long-term care insurance is sold through multiple independent licensed insurance carriers. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. FR061021-902D

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