Eat Your Elephant

As the cost of long-term care continues to rise, more families are asking: How can we protect both our health and our hard-earned savings? One option that often flies under the radar—but offers significant protection—is a Long-Term Care Insurance Partnership Policy . What Is a Partnership Policy? A Long-Term Care Partnership Policy is a special type of long-term care insurance that allows you to protect more of your assets if you ever need to apply for Medicaid. These policies are designed through a collaboration between private insurance companies and state Medicaid programs to encourage personal responsibility and reduce dependence on public funding. How Does It Work? With a standard LTC insurance policy, you must "spend down" most of your assets before qualifying for Medicaid. But with a Partnership Policy , you can keep an amount of assets equal to the benefits your policy paid out —and still qualify for Medicaid if needed. Example: If your policy pays out $200,0...

Life can change in an instant. Accidents, illnesses, or simply aging can leave us unable to make important decisions for ourselves. That’s where a Power of Attorney (POA) becomes one of the most essential documents in your life plan—no matter your age or health. It’s not just for the elderly or the wealthy. It’s for anyone who wants to protect their future, their family, and their finances. A Power of Attorney is a legal document that allows you to appoint someone you trust—called an agent or attorney-in-fact —to make decisions on your behalf if you’re unable to do so. There are two main types: Financial POA – For handling money, bills, banking, taxes, real estate, and business matters. Healthcare POA – For making medical decisions, consenting to or refusing treatments, and advocating for your healthcare wishes. 🛑 What Happens Without a POA? If you become incapacitated and don’t have a POA in place, your loved ones may need to go through court proceedings to get guar...

What if you could be your own bank? It sounds like a bold idea, but that’s exactly what the Infinite Banking Concept (IBC) is all about. It’s not magic—it’s a powerful financial strategy that allows you to save, grow, access, and reuse your money … on your terms. Let’s break it down. The Infinite Banking Concept uses a dividend-paying whole life insurance policy as a private banking system . Instead of saving money in a traditional bank where it earns minimal interest, you build cash value inside your life insurance policy. This cash value grows tax-deferred , and you can borrow against it at any time—without needing approval. Why “Be Your Own Bank”? Because when you use this method: You earn interest while borrowing against your policy You repay yourself , not a bank Your money continues to grow uninterrupted , even while it’s being used You gain more control, privacy, and flexibility 📉 Infinite Banking for Debt Elimination Let’s say you’re paying off high-...

In today’s fast-moving job market, changing employers is common — but your retirement savings shouldn’t get left behind in the shuffle. Many individuals have forgotten or abandoned retirement accounts , especially from jobs held years (or even decades) ago. These accounts can quietly accumulate value, yet remain untouched simply because we lose track of them — or assume we’ll deal with them “someday.” But someday is now. Because the earlier you reclaim and consolidate those funds, the more potential they have to grow and work for your future. So, where do you begin — especially if your former employer has merged, closed, or disappeared? Here are five practical steps to find and recover lost retirement assets: 1. Start with Your Old Employer(s) - Contact the HR or benefits department and ask about your plan. They can direct you to the account custodian or administrator. 2. Search the National Registry - Visit www.unclaimedretirementbenefits.com — a free resource to locate retirement fu...

IBD, ROBS, 1031 Exchange - money tools. I used Investors Business Daily (IBD) strategies to quadruple my money in 2009 as the market was coming back up after the terrible 2007 real estate driven crash. Wasn't confident enough in what I had learnt; so had only invested $10K. Looking back, should have done better. Started my business in 2014 using that money and funds from my 401K using a ROBS (Roll Over for Business Startup) transaction. Had never heard of it; but its a legitimate IRS approved transaction (always use a professional company though to make sure its done by the books - I used Guidant). I exited the ROBS transaction last year to get back full control over my business. Its basically the same transaction done in reverse. Not to be handled by anyone except a professional organization following specific rules involving appropriate Attorneys. A few years back I did a 1031 exchange of a rental property to buy a similar property in my home state. Great way to defer capital gai...