Michelle Tolmoff

07/14/2026

Read the latest issue of Retire Wise here:

Inflation works quietly in the background, and over time, even a modest rise in the cost of everyday goods and services can chip away at the lifestyle you…

07/14/2026

Strategy #8: Use Existing Life Insurance for Long-Term Care

Did you know that your existing life insurance policy can help fund long-term care? Some life insurance policies offer "accelerated benefits"—a cash advance against your death benefit to cover LTC expenses.

Alternatively, you can sell a traditional life insurance policy to a life settlement company or explore accelerated benefit riders. Just be aware that using these options could reduce the death benefit for your beneficiaries.

07/13/2026

Earnings season begins this week, with major banks kicking off a six-week stretch of quarterly reports. Join CIO Gene Goldman as he explains why earnings matter, what investors should watch for in the latest results, and how markets may respond as companies report against elevated expectations in .

“Cetera Financial Group” refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. All firms...

07/13/2026

Strategy #7: Home Equity Line of Credit (HELOC) for Long-Term Care

A Home Equity Line of Credit (HELOC) can be a flexible and cost-effective option to pay for long-term care. It allows you to access the equity in your home without needing to sell it.

Benefits include:
✔️ Lower closing costs than reverse mortgages
✔️ Interest can be tax-deductible
✔️ Flexible repayment options

However, be cautious—if you can’t repay the loan, the lender could foreclose. Make sure you have a solid repayment plan in place.

Stay tuned for the last strategy tomorrow!

07/12/2026

Strategy #6: Reverse Mortgages to Fund Long-Term Care

If you own a home, a reverse mortgage may help you cover long-term care costs. This loan allows you to access the equity in your home, and it doesn’t need to be repaid until the home is sold.

The key benefits include:
✔️ No monthly payments
✔️ Funds can be used for home modifications or Long-Term Care Insurance premiums
✔️ The borrower can stay in the home for as long as they wish

But remember, reverse mortgages are due when the homeowner dies or moves out. Understand the pros and cons before making a decision.

More strategies to come!

07/11/2026

Summer is sizzling these topics are even hotter:

🔆Social Security
🔆Medicare, Medicaid, Long Term Care
🔆Retirement Income Planning
🔆Wealth Transfer
🔆Estate Planning

Come get your burning questions answered at my preparing for retirement workshop! If you haven't registered yet, now's the time.

07/11/2026

Strategy #5: Leverage Your Health Savings Account (HSA)*

Health Savings Accounts (HSAs) are often overlooked but are a fantastic option for long-term care planning. Contributions to an HSA reduce taxable income, and withdrawals for LTC costs are tax-free.

For individuals over 40, HSAs can be used to pay premiums for long-term care insurance (LTCI). Plus, after age 65, HSA funds can be used for any medical expenses without penalty.

Maximize this strategy for tax-advantaged LTC planning!



*You can receive tax-free distributions from your HSA to pay or be reimbursed for qualified medical expenses you incur after you establish the HSA. You may be able to claim a tax deduction for contributions you, or someone other than your employer, make to your HSA. Certain limits may apply to employees who are considered highly compensated key employees.

07/10/2026

Strategy #4: Roth IRAs for Long-Term Care Planning*

Roth IRAs offer tax-free growth and withdrawals, making them a powerful tool for covering long-term care costs. You can use a Roth IRA to pay for LTC expenses or insurance premiums, and there are no required minimum distributions (RMDs).

Higher earners can also use a "backdoor" Roth IRA strategy to fund LTC needs. Just be aware of tax implications when converting funds. Always consult with a tax professional for the best approach.

More strategies coming tomorrow!



*A distribution from a Roth IRA is tax free and penalty free, provided the five-year aging requirement has been satisfied and one of the following conditions is met: age 59½, disability, qualified first-time home purchase, or death.

07/09/2026

Strategy #3: Use Pre-Tax Savings Like an IRA for Long-Term Care*

You can tap into pre-tax retirement savings, like an IRA, to cover long-term care (LTC) costs. Here's how:

◾ Tax Benefits: While IRA withdrawals are taxed as ordinary income, using your IRA to fund LTC can be a tax-efficient strategy.

◾ Hybrid Life Insurance: One option is using IRA funds to buy a hybrid life insurance policy, which provides both LTC coverage and a death benefit. If LTC isn’t needed, your beneficiaries receive a tax-free payout.

◾ Rule 72(t): For those under 59½, Rule 72(t) allows penalty-free IRA withdrawals for LTC, as long as you follow a specific distribution schedule.

Stay tuned for more strategies!



*Always consult a tax professional before taking action. Withdrawals made prior to 59½ may be subject to an early withdrawal penalty.

07/08/2026

Strategy #2: Self-Funding Long-Term Care

If traditional long-term care insurance isn’t an option, using your own savings or investments might be necessary. Setting aside money for at least 2-3 years of care is a good starting point.

However, there’s a risk: if care extends beyond that period, your savings could be depleted. For example, Alzheimer's patients may require up to 8-10 years of care. Planning early is key to protecting your financial future.

Keep following for more strategies!