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Our Promise To You

We provide a comprehensive view of your financial life and all the factors that go into life planning. What this means to you is help with personal decision making and putting a date on things. We help you manage your finances and investments, while taking into consideration tax planning, professional moves, children, retirement, healthcare and other important priorities. It’s about life planning and gaining more comfort with your long-term financial security.
 

Long Term Care (LTC)

Long term care refers to medical and other personal services to provide ongoing care for people who have lost their ability to function independently. That may be due to physical impairments that prevent them from certain basic daily activities, otherwise known as activities of daily living.

The possibility of a prolonged stay in a nursing home weighs heavily on the minds of many older Americans and their families. That’s hardly surprising, especially considering the high cost of long term care. It’s estimated that 50% of Americans over the age of 65 will, at some point in their lifetime, need some type of long term care. As life expectancy continues to increase, this trend is likely to continue—and possibly increase in future years.

There are basically three ways to pay for long term care expenses:
  • Pay out of pocket from personal income sources, assets and investments
  • When still healthy enough, purchase a long term care insurance policy
  • Qualify for government benefits, such as Medicaid
At TWP, we will guide you through the process. We’ll complete a well structured LTC needs analysis, and recommend a strategy asa part of your overall, comprehensive financial plan.

What is Long Term Care Insurance?

A long term care insurance policy can cover the cost of care in a nursing home, an assisted-living facility, or even care in your own home. A long term care policy pays a specific dollar amount per day for a selected period of time. LTC insurance can be expensive and the premium depends on age, health and a number of other factors.

Medicare and Medicaid Myths

Unfortunately, many people assume that Medicare will pay for long term care costs. Medicare provides only a limited coverage for a short term recovery from an illness or injury - otherwise known as skilled care or rehabilitative care. Medicare does not cover indefinite, long-term care expenses for those in nursing homes, assisted living, or adult daycare because they can no longer take care of themselves.

To qualify for Medicaid, both your income and the value of your assets must fall below certain levels, which vary from state to state. Typically, you must spend down almost all financial resources, excluding a home, personal belongings, and necessary automobiles. Additionally, Medicaid eligibility rules are numerous and complicated. They involve a strict evaluation of how an applicant’s assets were used, up to a period of 5 years prior to applying for Medicaid. 
 
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INVESTMENT
MANAGEMENT

Our investment management process is focused on helping you maintain financial stability, preventing mistakes and accomplishing your investment objectives. We don’t just focus on market performance or predictions. We focus on what performance means and how it impacts your long-term goals. It starts with returns, but it is about making life decisions. Working together, you gain a degree of confidence when uncertain times come.

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RETIREMENT AND
TAX PLANNING

We help you determine how long to work and when to retire to continue your lifestyle. We analyze when and how to take money from your portfolio to replace your paycheck, with an eye on tax efficiency, spending, healthcare and social security maximization. We address the primary concern of having your money last for the rest of your life.




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HOLISTIC/COMPREHENSIVE
PLANNING

Our comprehensive planning focuses on real life. It’s putting a date to your goals and steering your life based on analysis, giving you choices and alternatives. You gain the ability to see how reachable your goals are. It starts with getting to know you and the way you want things done to fulfill your needs. We take into consideration your family and all the secondary factors that go into a comprehensive financial plan.


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WE'VE BEEN LISTENING
FOR OVER 30 YEARS

Total Wealth Planning’s team of Certified Financial Planners® are here to listen to you and your questions. We never want you to feel rushed. The real benefit is having a road map to help ensure the key elements of your financial life are in order.


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FORM CRS
   
4665 Cornell Rd. Suite 160, Cincinnati, OH 45241 4665 Cornell Rd. Suite 160, Cincinnati, OH 45241
513-984-6696 513-984-6696
info@twpteam.com info@twpteam.com
2021 Annual Retirement Contribution Limit Changes
Wednesday, November 25, 2020


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