As we get closer to retirement, many of us start thinking about how our savings will last and whether our money will truly support the lifestyle we want. Retirement planning is not just about stashing away funds in a 401(k) or IRA. It is about creating an income strategy that helps us sleep better at night, knowing our bills will be covered and our loved ones protected no matter what life brings. One powerful tool that often gets overlooked in this conversation is insurance.

When a loved one begins to need help with daily activities, many families feel an instinctive pull to step in and provide care themselves. It’s a compassionate and loving response, but one that often comes with hidden costs. Becoming a family caregiver may seem like the right thing to do emotionally, but financially, it can be life-altering. As healthcare needs grow and longevity increases, so does the demand on family members, especially in a state like California where the cost of care in cities like Los Angeles continues to climb.

​Many people assume that as they age, Medicare or regular health insurance will cover the costs of long-term care. Unfortunately, that’s not the case. Medicare only provides limited short-term care under specific conditions, and traditional health insurance doesn’t cover ongoing assistance with daily activities like bathing, dressing, or meal preparation. As a result, individuals and families are often left scrambling to figure out how to pay for home health aides, assisted living, or nursing home care when the need arises.

Most people believe they’ll never need Long Term Care (LTC). Others assume they’ve saved enough to cover a short period of care. It’s a common mindset—after all, no one likes to imagine themselves needing help with basic daily activities. However, this way of thinking can leave you unprepared for the future.