Jay Zigmont

speaker

296 appearances 1 recordings 1 series first heard Feb 2025 last heard Feb 2025

Jay Zigmont’s voice in public audio — every appearance, attributed to the second.

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So this assumption that kids are going to take care of me when I'm older,

The data says no.

The difference is we know it.

So what we try to do with our clients, our goal is by about mid-40s to have a plan for long-term care.

That's either long-term care insurance, money set aside, or whatever type of plan works for you.

And we are doing that because long-term care is stupidly expensive.

It's $115,000 a year for a nursing home.

Men spend 2.2 years in it, women 3.7.

huge, huge numbers, and those costs are rising by 5% a year.

And we've tried to have a solution by mid-40s because that's actually when insurance, long-term care insurance, is most affordable.

Now, I say affordable.

That's kind of not really the truth.

It's when the price is reasonable versus really expensive.

We make that part of the plan.

The financial part is actually probably the easier part.

The harder part is who's going to make decisions for us?

So the way I look at this is for my wife and I, if we get a car crash, who makes our medical decisions?

Who makes our financial decisions?

And who lets our dog out?

Which sounds like a silly consideration, but my wife's going to be more concerned about the dog than she is me.

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