We are living in uncertain times. A new health care bill has been proposed. This bill will replace the Affordable Care Act (Obamacare). I have read the proposed bill and many opinions about it. If passed as is (which almost never happens) it will have a very negative financial impact upon the aging population. Of course the politicians, those who lobby politicians, advocacy groups, and political donors all have changes they want to this proposed bill, so the final bill may be better or worse than anticipated. If you are turning 65 soon, you need to protect your ‘pot of gold’ from the financial impacts of the high cost of health care. With approximately 9,000 people turning 65 each day, the fact is the cost of providing health care services will increase as the “Baby Boomers” start having strokes, dementia, Parkinson’s, cancer, heart attacks, and the myriad of diseases that come with aging. The older and sicker you get the more money is spent on your health care needs. These costs will “go through the roof” if you need long term care.

I know you have worked hard to create a “pot of gold” for your retirement years, and you don’t want it to all be lost just because you or your spouse has expensive long term care needs. Protecting your assets, enabling you to access Medi-Cal and/or Veteran’s benefits, or leveraging your money using the Pension Protection Act will enable you to preserve your “pot of gold” so that you can get the best care possible and make sure you don’t run out of money before you die. Planning now will enable you to enjoy your retirement with some peace of mind that when the time comes you are prepared for the expense of a health care crisis. There are many strategies that are currently legal which may not be legal months from now, so don’t procrastinate. The government wants to steal your pot of gold. Run like a leprechaun to make sure you don’t go broke in a nursing home.