Long Term Care costs
I wish to purchase and enter long term care expenses. Is the "special expenditures" the proper method for entering or should these numbers be budjeted in "consuption"?
Secondary menu
Forum Navigation
Recent Posts/Comments
Recent Case Studies
Press Reviews
Endorsements
Recent Press
It's Your Living Standard!
Maximize Your Social Security
Beware of Bait and Switch
RSS Disclaimer: ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO, are educational calculators designed to give users input in mapping out financial futures, but should not be acted upon as a complete financial plan. The creators of these programs are not certified, registered, authorized, or any other type of financial planners. These programs are simply tools for helping you think through economic futures. Its "recommendations" should be viewed as informative inputs into your own decision-making with respect to saving and the purchase of life insurance. ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO provide neither economic, financial nor tax advice, which can only be delivered to you by authorized professionals.
You got it right the first time. Special expenditures is the right way to do it since it's an "off the top" expense as far as you're concerned.
Note that due to the way we treat special expenses internally (we don't know that you won't be making those special expenses if you're dead) you may see life insurance expenses late in life. We're thinking about a solution to that problem but in the mean time, just enter non-taxable special receipts to offset the insurance costs if they turn up.
Best,
Dick Munroe