WARNING: some of the topics discussed in this message may make you uncomfortable.

I’m going through all the legal & paperwork rigmarole of putting my father into a home.

Much of it comes down to asset protection.

Not losing or giving up everyone one worked for throughout their life.

And being sure the spouse is taken care of.

So…

What is perhaps one of the ultimate asset protection strategies?

Try this:
Own your own Residential Assisted Living Home.

Think about it…

Most investors will work their entire lives to build their business, a portfolio of assets, and retirement accounts, in the hopes of “being set” in their retirement years.

Unfortunately, many of them will live to see most or all of their estate being stripped away paying for their final few years of life as they are being taken care of in an assisted living facility.

That is sad.

Yet it’s avoidable too!

There is a solution to that problem.

The solution is to own your own Residential Assisted Living home.

Then when it’s time for you to be old and frail, you can live for free in your own facility.

Simply doing that allows you to pass on your hard-earned estate, or it allows you to spend it now anyway you want to.

The term “asset protection” is used a lot amongst all wealthy people and in investment circles. The principles are relatively simple, it’s the application that is the problem. Learning from professionals who guide you and assist you in getting your asset protection plan in place is critical to your long term financial health.

However, think about it this way…

“What is your most valuable asset?”

I would answer that by saying, my life and my health. (That certainly has been most people’s answer in the years since they’ve avoided travel, avoided human contact, and don the mask…)

That doesn’t seem to have a lot to do with “asset protection” at 1st blush, but it actually does.

Ben Franklin is credited with saying “there are only two things that are certain in life: death and taxes”.

I will let others counsel you on taxes, but I would agree those are both as certain as is aging itself.

What happens between now and “death” is what I will address here.

According to AARP, 70% of all of us will need help with our “Activities of Daily Living” for an average of 3.5 years.

* What does that look like?
* How much “help?” will you need?
* Who will provide that help?
* Who will pay for that help?

These are the questions most people will not even ask themselves, let alone answer.

Depending where you are located, the average private room in assisted living is between $3,750 and $8,400 per person PER MONTH.

That is the “average” price for an “average” home. Most of us will be spending much more then that because we would not want to live in an “average” assisted living facility.

Our care will be more like $9,000 or $11,000 or even $14,000 or more per month.

That could be for years and years and can drain an estate a lot faster than it took to assemble it. After just a few years that will total hundreds of thousands of dollars and it could all have been saved.

One of the keys to protecting yourself and your assets is to have the proper insurance in advance of needing it.

We all know the typical insurance products like: Health insurance, Disability insurance, Life insurance and they all have their purpose.

Some of these we will likely all use at some point in our lives like health insurance. Others, we will never personally enjoy like life insurance, which is designed to benefit those that are left behind after you pass away.

The most overlooked insurance or the least likely to be purchased is “Long Term Care Insurance”.

Most people assume it’s either “too expensive” or they choose to ignore the fact that they are getting older and will more than likely need assistance as they age.

As families get smaller and spread out across the country, they are not as close geographically, and they are busy and unable to take care of their aging parents like they could years ago.

There is a solution.

The ultimate asset protection strategy could very well be to own your own care home.

When it’s time for you or a loved one to get the care that you need, you can move into the master bedroom and live like a king or a queen for free. Thereby preserving your estate and solving the problem that so many people simply ignore.

In addition, you could be making hundreds of thousands of dollars in cashflow and profits as the owner of that home.

The solution is simple and you cannot ignore the fact that we all will be getting involved in assisted living one way or the other — Owning it or living in it.

The question is how will YOU be involved?

And right now, that choice is yours.

No one likes to think about their own demise. Or of a loved family member.

I get it.

But it’s actually a very important thing to do if you actually care about, and love, those close to you.

This could be a great solution for you. Definitely worth hearing it out.

To learn more about owning, operating or investing in senior housing and assisted living, join us for Isabelle Guarino’s Traction REIA event on Thursday April 18th ONLINE using ZOOM.

Works nationwide. Join us on Zoom from anywhere.

Main Monthly Meeting ONLINE

TOPIC: “How to turn one single family home into a $5-$15k/Month Cash Flow with Residential Assisted Living”

SPEAKER: Isabelle Guarino

***ONLINE REIA MEETING***
Thursday April 18th ONLINE using ZOOM.
6pm Eastern
5pm Central
4pm Mountain
3pm Pacific

Works nationwide. Join us from anywhere.

Click here to RSVP & Get the Zoom Link

See you soon!

Tom Zeeb
President
Traction REIA®

14+ Consecutive Year Recipient of the National REIA “Honors of Merit”
and the “Award of Excellence”
For Best Real Estate Investor Association!