👉Get started on your estate plan—watch our, on-demand workshop: https://www.daytonestateplanninglaw.com/how-to-not-go-broke-in-a-nursing-home-even-if-you-think-its-too-late/

Mike Moyer, owner of First Light Home Care, shares his path from construction to caregiving, highlighting the services his team provides, the vital role of caregivers, industry challenges, and the payment options available to families. He underscores the rewarding nature of caregiving and First Light’s dedication to delivering compassionate, high-quality care for seniors and others in need.

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Takeaways

• Mike transitioned from construction to home care in 2018.
• First Light Home Care serves a diverse clientele, including seniors and college students.
• Caregivers are trained in various areas, including dementia care and companionship.
• Home care allows clients to stay in their own homes while receiving assistance.
• The company has a centralized office and recruits local caregivers.
• First Light has no minimum hours for service, making it flexible for clients.
• They work closely with home health agencies for medical needs.
• Hiring and retaining quality caregivers is a significant challenge in the industry.
• The company has a good relationship with the VA for referrals.
• Client care coordinators assess needs and match caregivers accordingly.

Resources:

• Gudorf Law Group
• The Ohio Estate Planning Guide - Free Book
• Gudorf Law: What We Do and How We Help Webinar
• Don't Go Broke in Nursing Home Workshop
• When a Loved One Dies: A Legal Guide - Free Book
• Subscribe on YouTube

👉Get Your Free Retirement Assessment: https://gudorffinancial.com/get-started

Danny Gudorf, a financial planner, warns against leaning too heavily on cash in retirement planning. He explains the crucial difference between nominal and real returns, showing how inflation quietly chips away at purchasing power. To safeguard long-term security, Gudorf recommends a balanced approach—keeping enough cash for short-term needs while investing in growth-oriented assets that can outpace inflation and preserve wealth over time.

Key Takeaways

• Keeping large amounts of cash can jeopardize your retirement.
• Inflation can significantly reduce your real returns.
• Nominal returns are misleading without considering inflation.
• Cash does not increase buying power over the long term.
• Investing in stocks and bonds is crucial for retirement growth.
• A healthy cash balance is necessary for emergencies.
• Cash should not replace bonds in a retirement portfolio.
• Understanding risk is essential for investment success.
• Chasing short-term yields can increase long-term risks.
• Work with a financial planner for a balanced approach.

Resources:

• Gudorf Financial Group
• Get Your Free Retirement Assessment
• The Retire Ready Toolkit (free resource)
• Subscribe on Youtube

👉Get started on your estate plan—watch our, on-demand workshop: https://www.daytonestateplanninglaw.com/how-to-not-go-broke-in-a-nursing-home-even-if-you-think-its-too-late/

Attorney Ted Gudorf highlights the critical role of strategic planning in Medicaid and long-term care. He breaks down the complexities of the Medicaid system, including the five-year look-back period, and outlines legal strategies designed to safeguard assets while still qualifying for benefits. Key topics include the use of Medicaid Asset Protection Trusts, the function of annuities, and advanced planning options tailored for both married couples and single individuals. Gudorf underscores the importance of proactive elder law planning to help individuals maintain control over their care and preserve their legacy.

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Takeaways

• Strategic planning is crucial for protecting assets.
• Medicaid is the primary payer for long-term care, not Medicare.
• Understanding the five-year look-back period is essential.
• Timing is key in Medicaid planning; start early if possible.
• Medicaid Asset Protection Trusts can safeguard assets.
• Converting countable assets into exempt assets is a viable strategy.
• Medicaid compliant annuities can help couples protect excess assets.
• The Half a Loaf program allows partial asset gifting for single individuals.
• Comprehensive elder law planning includes various legal documents.
• Planning is necessary to ensure quality care and asset protection.

Resources:

• Gudorf Law Group
• The Ohio Estate Planning Guide - Free Book
• Gudorf Law: What We Do and How We Help Webinar
• Don't Go Broke in Nursing Home Workshop
• When a Loved One Dies: A Legal Guide - Free Book
• Subscribe on YouTube