Financial advisers should incorporate health care planning into their practices.
Advisers need to make sure they understand where clients are coming from and how this decision will impact their retirement security.
Both the 2016 and 2017 proposed fiscal budgets included a $3.4 million limit on retirement savings for an individual.
Few have planned for such care, but 70% of 65-year-olds will require it in their future.
This underutilized method can provide a variety of benefits, such as reduced risk of rising taxes and the ability to better control taxes on Social Security benefits and Medicare premiums.
Young investors' conservative investing mindset will work against them in saving for retirement.
