Financial Advisors

[ChuckMK23]

BTW, VA is strongly suggesting that I apply for disability under PACT Act - which is based on presumption of exposure during my time flying Pax/Mail/Cargo in KSA during DS. I'm researching the implications of this first - especially since my employment requires a FAA 2nd Class medical.

 

[robav8r]

Tricare does not cover any long-term care costs.
The VA has some long-term care options. I suppose there are some hoops that must be traversed, but you might be able to suss that out before you need it.

I can't tell you how many times families would bring Grandpa into the ER saying "We can't do it anymore". The expectation was that I would admit him to give them a break, find him an amazing assisted living facility, and after all the family was consulted, visited the facility and concurred with the choice, he would be transferred into that facility where he could live out his life at no cost to them, and all would be wonderful. Sadly, unless an acute medical condition was present, he probably wouldn't even be admitted, and he'd be back at home that night. Even if I could get him admitted to treat something acute, the "length-of-stay" clock starts ticking as soon as he gets admitted, and I was expected to get him out the door as soon as that problem was addressed. When they found out that the only assisted care facility with available memory care beds was going to cost them $8000/month, and Medicare paid exactly nothing, things got quiet fast.

Figuring this out before it becomes a crisis is key.

Yeah, this is what scares the hell out of me . . .

 

[SynixMan]

1) Most brokerage accounts offer some kind of advisory services once you meet a certain balance. That might check your box

2) Consider a fee based financial planner. Planners make money via fees, selling you products, or a percentage cut of Assets Under Management. I prefer paying them for their services up front, as I don't want investing advice/active portfolio management. Your near term concern might be tax planning.

3) As others have mentioned, have a plan for longer term care. VA, state veterans homes, long term care insurance, etc.

 

[Gatordev]

Since switching over to the VA, I've had nothing but positive reviews. Not sure if that is location dependent, or not.

It very much is.

3) As others have mentioned, have a plan for longer term care. VA, state veterans homes, long term care insurance, etc.

I would want to visit any state or government facility before I planned on using them. If you're a drooling bag of mush, maybe it doesn't matter, but if you're someone cognizant of your reality but need assisted living, they might be a scary place to be.

Obviously it will be different in different places, but I give rides at work to a lot of long-term care patients and sometimes it's pretty sad (and sickening) to see the care their given. There just aren't enough care givers out there, let alone facilities.

 

[Mos]

drop me in the Rocky Mountains with two days of supplies, a light weight sleeping bag, and a map of Disney World after kissing my forehead and saying, “I’ll see you at our home in San Francisco.” (Hint, we don’t live in SF, but I won’t remember that).

Similar option:

 

[taxi1]

Similar option:

Was not expecting to see Harrison Ford as the jumper

 

[taxi1]

BTW, VA is strongly suggesting that I apply for disability under PACT Act - which is based on presumption of exposure during my time flying Pax/Mail/Cargo in KSA during DS. I'm researching the implications of this first - especially since my employment requires a FAA 2nd Class medical.

I popped positive for prostate cancer about 3 years ago (on active surveillance, get tested every six months) and did not realize I was eligible under the PACT Act for 100% disability until a year in (thanks, Djibouti, Iraq, and Afghanistan burn pits!) I now get that tax-free chunk of money and free massages, along with the other medical care. I kept my civilian provider for urology under the "community care" program.

I also hold a Class 2 medical. Just have to get the urologist to send a note saying I'm good to go and provide it to the AME. Has been zero problem. I have the gouge, if that is your malfunction.

 

[robav8r]

I popped positive for prostate cancer about 3 years ago (on active surveillance, get tested every six months) and did not realize I was eligible under the PACT Act for 100% disability until a year in (thanks, Djibouti, Iraq, and Afghanistan burn pits!) I now get that tax-free chunk of money and free massages, along with the other medical care. I kept my civilian provider for urology under the "community care" program.

I also hold a Class 2 medical. Just have to get the urologist to send a note saying I'm good to go and provide it to the AME. Has been zero problem. I have the gouge, if that is your malfunction.

. . . and free massages . . . wait, whut?

 

[Spekkio]

One item I found frequently neglected was planning for assisted living. Medicare does not cover assisted living expenses, and income after retirement often falls short of meeting costs. Basic assisted living (not memory care, or services other than basic hotel level support) averages between $4 and $5K/month. Even if you decide to stay in your home and opt for home care, the expenses are 100% out of pocket. Those kind of bills can up your nest egg in short order.

Tricare's website says it pays for at-home nursing care, to include hospice. I don't have any first-hand experience attempting to use the benefit, but at least it's in black-and-white that it should be covered.

I agree that it clearly says it will not pay the cost to live at an assisted living facility.

From a mathematical perspective, an O5 @ 20 pension plus $900k in retirement accounts at age 60 will support the $8k a month of assisted living expenses,* assuming no other costs. Which means you should have roughly $300-350k saved by age 40.

*All numbers inflation adjusted to 2025 dollars.

 

[taxi1]

. . . and free massages . . . wait, whut?

12 per year, you just have to have a sore body part that they can treat. Who doesn’t?

First one was an hour, others are 1/2 hour.

 

[Griz882]

12 per year, you just have to have a sore body part that they can treat. Who doesn’t?

First one was an hour, others are 1/2 hour.

Are these at a VA medical center?

 

[JTS11]

I popped positive for prostate cancer about 3 years ago (on active surveillance, get tested every six months) and did not realize I was eligible under the PACT Act for 100% disability until a year in (thanks, Djibouti, Iraq, and Afghanistan burn pits!)

Was the process fairly straightforward with the VA to get that covered under the PACT Act, or was there any bureaucratic headache involved?

My understanding is that there is a list of conditions that are covered under the PACT Act, that if you deployed to areas where burn pits were used, it is presumed that the condition was caused by that exposure, ie. you don't have to prove anything. Is that correct?

Also, glad to hear you caught it early enough. Best of luck!

 

[TimeBomb]

Tricare's website says it pays for at-home nursing care, to include hospice. I don't have any first-hand experience attempting to use the benefit, but at least it's in black-and-white that it should be covered.

The definition of "nursing" is key. Both cover "skilled" nursing, like administration of IV antibiotics, wound care, and the like.
Neither cover custodial care like help with feeding, dressing, medication administration. That isn't considered "nursing". Home health and hospice are different as well.

 

[robav8r]

Are these at a VA medical center?

Or can I choose a local Asian Massage Parlor (totally respectable of course)?

 

[JTS11]

Or can I choose a local Asian Massage Parlor (totally respectable of course)?

If the VA is backed up, I believe you can be referred to a provider out in town (community care), so why not?

Although it appears you only rate 1 full session a year. The other 11 are short-time. 😄