Do any of U watch The Dave Ramsey Show on FoxNews? A friend recommended I tune the guy in. I'd never heard of him; he's a financial advisor, I guess. If any boomers listen to the man, what's your take on his recommendations. Also, do any of U have insurance policies that will [partly or fully] reimburse "Long-term Health Care," either at-home or nursing care facility situations? I'm doing a personal survey to determine if Wild Bill and I ought to look into such coverage. Or NOT! Would appreciate any in-put anyone wants to share.
Thank you in advance!!!

I have listened to DR on many occasions and like and believe what he has to say. I also highly recommend Mary Hunt, Debt-Proof Living Debt-Proof Living. They both have the same strategies for getting and staying out of debt and other things, among them the insurance thing. I recommend either/both of these people.

I have watched Susie Orman from time to time and she has practical answers for all of us. She is so down to earth and makes sense for the regulars Joes pocketbooks...

My oldest son-n-law listens to DR religiously. He's on talk radio on a Houston channel. I get the best stuff from my snl. I think DR has good stuff to share, but I also think times are changing so drastically that the old school rules don't apply as fixed as they use to. Everyone needs to be more flexible and creative. No one expert has a handle on the future, yet, IMO.

JJ, Chatty, Anne327 and gims,
Thank you ladies. Hubby and I went to a so-called, radio show financial expert years ago. We were not impressed, walked out and never went back. The thing is, if these guys are so smart, they wouldn't be working. They'd be retired and living on some island, they bought and paid 4. The friend that recommended DR, doesnt' need advice. I guess that couple just wished to listen for different points of view. I'm still examining the possiblity of long-term care insurance. Hubby is against it; so, I doubt if I go that route. I simply wanted to investigate that angle. GMA had a segment on how some insurance companies don't honor many policies and the clients have to fight 4 what's rightfully theirs. I'll report back on the pros and cons, when I amass all the valid information I can find. Thanks.
Prayers and blessings 2 ALL.....

I totally agree that no ONE expert has the right solution for all. Simply put, we all lead different lifestyles and have different needs. For instance, you couldn't pay me to invest in a boat. Yuck. But others would foam at the mouth at the mention of a sailboat, pontoon, etc...

I will say this. If you spend LESS than you earn...and you SAVE...then you are ahead of the game.

jj,
I agree! If everyone spent less than they earned, the economy would NOT B in the mess it's in now!!!
I'm not into boats, either. There was a time I thought I'd like a pontoon, but not anymore. Hubby had a sailboat when we first got married, but the thrill of sailing fades quickly. There's more work than relaxation involved in that sport!
My only financial concern is that health care issue. Medical costs are sooooooooo inflated, the thought of long
term care is really, really scary. If there were any way to head off unexpected devastation, I'd love to know about it.
I'd hate to my son and grandbabies inheritance unnecessarily depleted!

Guess I'm trying to figure out how to protect family assets and still have family members get needed health care, without making nursing home owners, multi-rich. Ordinary folks lose everything they have, while the rich get richer. Anybody have any well-thoughtout plans along these lines?

I had lunch a few weeks ago with several ladies. One was concerned about this exact question. Her DH has prostrate cancer and will likely need nursing home care at some point - and doesn't know how to protect their assets. Another lady happens to live in the Caribbean and suggested that she see a tax attorney. An accountant will only tell you what you can do legally - but a tax expert can possibly tell you what you can do to protect what you have. Another suggestion was to divorce him. That way he would only have to use his assets - whatever was her settlement was would be safe. Interesting ideas to say the least.

I love Dave Ramsey. I listened to him daily when I lived in TN. In fact, I sent both of my boys a copy of his book - in hopes that some of his recommendations might take hold. One son did use his 'snow ball' technique to pay off credit card debt.

I wish I had the answers for you, jabber. But I don't. Each person has to "weigh" their options and do what works best for them. I would say try talking with others who have bought the long-term care insurance and maybe had to use it for their mother/father, or someone. If you know someone like that, perhaps. Do some research online and look for stories about it. Google "stories regarding long-term health insurance," for one, or maybe "long-term health insurance stories," I did, here is one article I found interesting,

http://www.msnbc.msn.com/id/17264140/

And here is another one that says..."Nearly one in four long-term insurance claims in California is denied."

LONG TERM CARE INSURANCE IS IN TROUBLE

And lastly, you can read this article and it has some real live stories (supposedly) from people are planning for long-term care,

READ ARTICLE HERE

These were just a few I got by googling, "stories about long-term health insurance," and you could try many different things to find other resources. I say, do some research. Hope this helps!

Oh and one more thing...just because you read an article that says, "bla..bla..bla," doesn't make it so. Make sure you read things NOT written by someone in the industry. Hear both sides, so to speak.