Bob Carlson

Copyright © 2016 Eric Tyson and Bob Carlson. All rights reserved. Long-term care (LTC) generally refers to any assistance you may need with your day-to-day living. When planning your finances after 50, you may need to consider your options. The forms of long-term care — independent living, home care, assisted living, and nursing home —depend on the level of assistance you need.

You may want to consider a long-term care policy when planning your finances after 50. Most states participate in a program known as the Long-Term Care Partnership Program. The purpose of the program is to encourage people to purchase private long-term care insurance that meets requirements established by the state.

When you're financial planning after 50, you may be faced with lots of Medicare questions. Medicare is administered and enforced by the federal Centers for Medicare and Medicaid. Chances are you have questions about Medicare, and finding answers can be a challenge, especially if you don’t know where to look. Here is some advice: Through the Medicare office: You can ask questions and order publications by calling 800-MEDICARE (800-633-4227).