Protecting Your Future: Insurance, Care, and Cash Flow Choices
For high earners, insurance decisions ripple into every part of financial life, from long-term care options to debt management.
This week, we’re diving into how long-term care planning intersects with life insurance, how insurance premiums fit into a cash-strapped budget, and a reader’s question about whether young, single professionals really need coverage.
The Wealth Minute
Long-Term Care and Insurance Planning
Many high earners assume long-term care is something to worry about in their 70s or 80s.
The reality? Planning ahead while you’re still earning is often the only way to make it affordable.
Traditional long-term care insurance can be costly, and premiums rise sharply with age.
But newer hybrid solutions — life insurance policies with long-term care riders — allow you to protect your retirement savings from being drained by unexpected health needs while also keeping a death benefit in place.
If you’re approaching peak earning years, this is the moment to consider how long-term care coverage fits into your broader retirement plan.
Waiting until retirement age can mean higher costs or limited options.
Pairing coverage decisions with retirement planning today helps ensure that tomorrow’s care doesn’t derail your financial independence.
Why It Matters
Long-term care is one of the largest uncovered expenses in retirement, and few families are prepared to pay out-of-pocket.
Insurance-backed solutions spread the risk.
Bottom Line
Long-term care coverage is still essential — but the safer path for many high earners is through hybrid policies that combine protection with stability, reducing the volatility and uncertainty of traditional LTC insurance.
Wealth Moves
Research life insurance policies with long-term care riders to understand the dual benefits.
Compare the projected cost of self-funding long-term care versus policy premiums.
Schedule a Financial Forecast appointment. Let's map out your long term care strategy.
The Freedom Path
Balancing Insurance Premiums in a Tight Budget
When money feels tight, insurance premiums can look like an easy cut. But canceling coverage often backfires.
Life insurance premiums are tied to age and health — if you cancel now, it may be significantly more expensive to reapply later.
The real strategy is learning how to balance fixed protection costs within your monthly budget without letting coverage lapse.
This might mean trimming elsewhere: subscriptions, dining out, or rebalancing categories in your budget. The key is reframing insurance as a non-negotiable line item — right alongside housing and utilities.
After all, the financial impact of being uninsured or underinsured is far greater than the short-term relief of skipping a premium.
Why It Matters
Insurance premiums are an investment in stability. Without coverage, one unexpected event can wipe out years of progress toward financial goals.
Bottom Line
Don’t treat insurance premiums as optional — treat them as core protection, just like your emergency fund.
Wealth Moves
Calculate what percentage of your monthly income goes to insurance. Aim to keep it in balance with your other essentials.
Identify 2–3 discretionary categories you can temporarily reduce to maintain coverage.
Automate insurance payments so you’re never tempted to “skip” a month.
Book of The Month
This month's book is The 5 Types of Wealth by Sahil Bloom.
Join me as we learn to live a well rounded wealthy life.
Coffee Chat Question
If we were to meet for coffee, what would you want to know?
Feel free to email me questions that will anonymously be added to this section during each edition.
Do I really need life insurance if I’m single with no kids?
I remember asking this question in my 20s, 30s and my 40s. I was 43 when I married Keith and the kids and always struggled with what to do about life insurance.
Remember that there are several different types of life insurance. While term insurance doesn't typically fit the plan for single high earners, cash value does.
A cash value policy offers another way to accumulate tax free growth while keeping future options open. Note: I just worked with two single 20-something clients last week getting theirs started.
Even without dependents today, life insurance can still be a foundational part of long-term financial security.
Why It Matters
Your life stage affects the type of coverage you may need, but being single doesn’t automatically mean you need none.
Planning ahead protects both your future and those who may be indirectly impacted.
Bottom Line
Life insurance for singles is less about dependents and more about protecting flexibility, locking in low rates, and building long-term value.
Reach out if you need more.
What single decision are you avoiding that’s costing you most?
Avoided decisions charge interest—in fees, stress, lost growth, and missed opportunities.
Each week of delay compounds the cost: balances linger, cash leaks continue, promotions pass, and protection gaps stay open.
Where “Decision Debt” Hides
High-interest balances you’re “managing” instead of eliminating
Scattered old accounts you keep meaning to consolidate/roll over
Benefit elections (HSA/401(k)/life & disability) left on last year’s settings
Pricing & income choices you’re postponing (raise, rates, job move)
Insurance/coverage gaps you suspect are wrong but haven’t reviewed
Tax moves you only think about at filing time (withholding, estimated taxes)
If one line stung, that’s your starting block—book a Financial Discovery Call and let's deal with it.
Book a 30–35 min Financial Discovery Call to:
Clarify — Identify the one avoided decision with the highest 90-day cost so that you know exactly where action pays most.
Simplify & Sequence — Break it into the top three steps with dollar targets and due dates so that progress is automatic, not heroic.
Decide next steps only after you’re clear on the path—no pressure.
Why move now? Indecision is a bill you’re already paying.
