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At we are dedicated to helping individuals evaluate their financial situations. We want to provide people with tools that can help them make informed decisions. We offer informational material on a wide range of topics because we understand that individuals have diverse financial needs. If you have any questions or concerns, we invite you to take advantage of our complimentary consultation. During the consultation, we can discuss your questions and begin the process of helping you develop a financial plan that provides protection and peace of mind.
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How To Offset Extended Care Costs: Protect Your Assets, Income and Legacy

All of us would love to pass on a decent-sized legacy to our heirs. But too many estates are all but entirely consumed by the high costs of medical care, especially as we get older.

Yes, we have Medicare to cover the major medical expenses of those Americans over age 65, but many people fail to realize that long-term and nursing home care is not covered under Medicare.

Medicare only pays for 100 days. After that, you will have to cover 100% of the costs for long-term care, either in a nursing home facility or in home health care.

Medicaid can help with basic expenses - but generally only after you have impoverished yourself by spending your assets down to less than $2,000 depending on your state.

Until then, you're going to have to either fund long-term care costs out of your own savings and pension income or have long-term care insurance in place.

The latter is the smart choice if you want to preserve your funds in retirement.

Chances of needing care

  • 1 in 3 individuals who purchase a long-term care policy at age 60 with a 90-day elimination period (benefits kick in after 90 days of chronic disability) will need those benefits before they die.
  • Half of everyone over 60 will have a need for nursing home or custodial care at some point during their lifetime.
  • The average woman who needs long-term care spends 2.6 years in a facility. The average man who needs long-term care needs it for 2.3 years.
  • 10% of those who enter a nursing home will stay there 5 years or more

The costs

The median annual rate for a semi-private room in a nursing home is $220 per day or $80,300 per year and increasing at 4% annually according to the latest "Cost of Care Study" by Genworth.

The median price of an assisted living facility is $43,200 per year, which is easily enough to consume most or all of a private pension and your Social Security income, as well as your retirement savings.

Medicaid requirements have teeth

If you have assets like a home, and receive Medicaid benefits, the state may place a lien on your home.

When you pass away, the state may seize your home out from under your heirs and sell it to recover any Medicaid benefits that were paid to you, under a State Medicaid Recovery Program.

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4 Steps to Protecting a Child with Disabilities
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The Changing Definition of Risk in Retirement
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Lots of Variables with Fixed-Rate Mortgages
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Registered Investment Advisor

Jennifer Lang Financial Services Launches Private Client Group

Our Registered Investment Advisors help ensure that your investments run smoothly. We offer: 

  • 401K Rollover | TSP Rollover
  • Customized Portfolio Construction
  • Asset Allocation
  • Risk-managed strategies for all market conditions
  • Tax Location and Tax Loss Harvesting
  • Security Selection
  • Trading and Rebalancing
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Retire Educated
Seminars and Events

We are committed to helping you make informed decisions about your financial future. We invite all clients, referred guests and visitors to attend our online financial planning seminars.

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PPP money is still available.

Act now because the window for this program is short, with the SBA only accepting applications through August 8th!

Time is short, but we have an option for you to apply for a PPP loan. Our lending network has developed an automated application process to allow you to quickly and easily apply for a PPP loan. Learn more.....

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Is a SEP-IRA Right for Your Business Retirement Plan?

A SEP can be established by sole proprietors, partnerships, and corporations, including S corporations.

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Long-Term Financing to Protect Your Commercial Real Estate Property

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Understanding SBA Loan Programs Under the Stimulus Plan's CARES Act

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Independent Wealth Planner Strategies with Jennifer Lang
Now On iHeartRadio! Independent Wealth Planner Strategies with Jennifer Lang
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Jennifer Lang
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Jennifer Lang Financial Services, LLC.

3139 W Holcombe Blvd, Suite 2031, Houston
United States

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