Myth #5 - "My clients can't afford a Long-Term Care Plan because it's too expensive"
Fact: If someone tells you LTC planning is “too expensive,” but can’t answer what’s expensive or compared to what, they’re not talking about planning. They’re reacting to a number without ever building the plan first.
Planning must come before paying.
The right order is: Step 1 — Plan for it.
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Who makes decisions if care is needed?
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Where would care happen — home, assisted living, memory care?
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Who coordinates it — spouse, child, professional?
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Which account is used first to pay the first bill?
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How does this affect the spouse left at home?
Step 2 — Then, and only then, ask: “How do we pay for it?” Until you answer Step 1, the phrase “it’s too expensive” is meaningless. And when cost does come up, the only honest question is: Too expensive compared to what?
| If You Plan | If You Don’t Plan |
|---|---|
| Maybe $250–$500/month | $10,000+/month for care |
| Use existing assets creatively | Liquidate IRAs with taxes & penalties |
| Keep control and dignity | Family scrambles in crisis |
| Spouse stays financially secure | Spouse becomes a caregiver or bankrupt |
| Choices remain yours | Medicaid becomes the default |
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