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Jasmada posed theses questions:
Could this have been prevented ? Would all of this money been protected with a long term care policy ?
Where could this money have been better spent ?
If it were protected, using the Fools Wisdom, could it have grown to larger and larger amounts of money for
future generations or charity work ? Is it better to protect this money or spend it in long term care ?

rjm1 responds:
The first question is what does she want to do with her money. Many fools are not worried about leaving the mony to heirs so spending it all is not that important.

Jasmada responds:
I never said they should be worried about inheritance.
Where could this money have been better spent ?

However, I would assume most of these same people do not want to run out of money.

jasmada: this is true for all people I have yet to find someone who does not care about this.

rjm1: Therefore the cost of LTC as a percent of total income is important to them. How much should someone spend on LTC as a percent of there income?

jasmada: You never use monthly income to pay premiums, because you couldf not afford to (most people) pay for care out of monthly income and still retain lifestyle.
I have stated this time and time again you pay ltc premiums from a % of interest earned on principle so as to protect the principle and preserve assets for future earnings. Dont't want to spend interest or part of your assets then you better have this overage because you may well spend it all.

rjm1: To protect an estate, wouldn't life insurance be cheaper and a more reliably way than LTC?

jasmada: life insurance works best when you are dead and have tremendous debts, young and working, kids and wife depend on you, however it will not "protect" anything if all the kids and family are independent and you are retired. It then becomes a final expense thing .
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