“Bear markets can be devastating. Taxes can put a big dent in your wallet. Inflation can eat away at your quality of life. If you’re retired, though, you face an even bigger danger to your financial well-being — your health, as this can be a potential threat to your finances.

Your level of health can change drastically as you age. You may get ill. You may become disabled. Your mental capacity could change. These are unfortunate realities of life and they’re very, very expensive, which is why I encourage my clients to consider long-term care insurance, even though my firm does not sell it. Since November is Long Term Care Awareness month, I’d like to take this opportunity to encourage readers to think about long-term care insurance — or “portfolio insurance” as I like to think of it too.”

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