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The LynnLeigh JournalLife. Investing. And Everything in BetweenIt’s hard to think about, but long-term care is an important need for which you shouldprepare.How much care might you need? On average, women will need 3.7 years of care, andmen will need an average of 2.2 years.Approximately half of people turning age 65 will require some type of paid long-termcare in their lifetimes, according to Morningstar.About 60% of us will need assistance with things like getting dressed, driving toappointments, or making meals, according to the Administration for Community Living(ACL), a division of the U.S. Department of Health and Human Services. Not all of theseactivities will require paid assistance.Some of us may require home care, which would include those who need minimalassistance with health-related tasks. Others might benefit from adult daycare, whichoffers daytime supervision, including meals, recreational and therapeutic activities. Itoccurs in a community setting.TACKLING LONG-TERM CARE NEEDSBy Kelly L. Olczak, CFP® 6 Steps to long-term careplanningMedicare vs MedicaidDeveloping financialstrategiesNewsletterHighlightsBrief Market UpdateN O V E M B E R 2 0 2 3V O L U M E 1 1War in the Middle EastInvestor’s Corner

Gauge the likelihood of needing care.Review potential costs.Assess available resources.Create a long-term care fund.If insurance is the answer, investigate whether a stand-alone or hybrid policymakes sense.If government-funded care is part of the solution, think through theramifications.Planning is critical, but many people are not sure what is covered by insurance,and others are often misinformed about what is covered by Medicare. Here aresix steps to help you think—and begin planning for—your possible long-termcare needs.Medicare and most health insurance plans, including Medicare SupplementInsurance (a Medigap policy), do not pay for long-term care.6 STEPS TO LONG-TERM CAREPLANNINGShopping for groceries or clothesManaging moneyHouseworkCaring for petsBathingUsing the bathroomTaking medicationThe ACL defines long-term care as “a range of services and supports you mayneed to meet your personal care needs. Most long-term care is not medical care,but rather assistance with the basic personal tasks of everyday life, sometimescalled Activities of Daily Living (ADLs).”The definition seems a bit on the dry side, so let’s take a more practical approach.ADLs include:What does Medicare Cover?Medicare covers up to 100 days of nursing home care. Formany, that may not be enough.Medicare can help with costs for skilled-home health or otherskilled in-home services. What is skilled-home health? It is awide range of health care services that can be provided in yourhome for an illness or injury. These might include monitoring aserious injury or illness, injections, patient and caregivereducation and nutrition therapy. The goal is to help you recover, regain independence, become moreself-sufficient, or slow any decline in health.Generally speaking, long-term care services by Medicare are providedfor a short period of time.Medicare does not pay for non-skilled assistance with ADLs, whichmake up most long-term care services. If needed, you will have to pay for long-term care services that are notcovered by a public or private insurance program.N O V E M B E R 2 0 2 3 V O L U M E 1 1

Which option is best will depend on various factors, includingage, health status, the likelihood of needing care and yourfinancial situation.Some people use their own assets to pay for care. Be advised youmay have tax consequences for drawing on an IRA, 401k orqualified plan. Discuss this with your tax advisor.A reverse mortgage, long-term care insurance, hybrid lifeinsurance policies, and annuities can provide much-neededflexibility.DEVELOPING FINANCIALSTRATEGIESMedicaid is available to those who meet strict income and asset guidelines. Unlike Medicare, which is health insurance, Medicaid ispublic assistance.Medicaid will count wages, Social Security benefits, pension, veteran benefits, bank and investment accounts, trusts and annuitiesand your property.In most states, Medicaid looks at your income over the last five years, according to the American Council on Aging. Californiareviews your data going back 30 months. Assets that were transferred or gifted during that period may count against you. So, wewould advise that you not try to transfer financial assets to qualify for Medicaid.Medicaid eligibility occurs on a rolling basis. You could make just $1 over the monthly income limit and end up on the hook for thecost.N O V E M B E R 2 0 2 3 V O L U M E 1 1W H A T A B O U T M E D I C A I D ?Let’s look at these potential resources:A reverse mortgage can be complicated, but it may offer you the cash needed to help with long-term care. Other borrowing optionsmay be available, too, including a home equity loan.Long-term care insurance is an alternative. The cost will vary depending on the benefits. Younger, healthy people who are at lowrisk of needing long-term care in the next 25 years may benefit from a long-term care policy.Costs will rise for those who are older or have health problems. You may not qualify if your health is compromised, or you are alreadyreceiving end-of-life care services.Typically, you become eligible for benefits when you can no longer perform two ADLs. Most policies have a waiting period before youreceive benefits.

However, many insurance companies no longer offer traditional policies. Those that do may raise premiums annually, and thecost may be high.Hybrid life insurance offers unique features that may offer financial assistance. What is a hybrid policy? It combines lifeinsurance with long-term care insurance. The policy may pay for long-term care or a death benefit if the policy isn’t used to payfor care.Another option is a long-term care annuity, which provides a benefit based on your investment. However, it has becomechallenging for insurers to provide these policies due to today’s interest-rate environment.Other avenuesSome states offer PACE (Program of All-Inclusive Care for the Elderly), which is a combined Medicare and Medicaid program.It may pay for some or all the long-term care needs of a person with Alzheimer’s disease.SHIP, the State Health Insurance Assistance Program, is a national program offered in each state that provides one-on-onecounseling and assistance with Medicaid and Medicare.Final thoughtsHow you should approach long-term care will depend on your circumstances. We have offered a basic outline of variousoptions. If you have additional questions or concerns, we encourage you to reach out to us.N O V E M B E R 2 0 2 3 V O L U M E 1 1B R I E F M A R K E T U P D A T EOctober has been associated with frightening incidents inthe financial world.Perhaps this is because two significant stock market crashesthat occurred in 1929 and 1987 happened in the month thatsports Halloween.However, it may surprise you to know that broad marketindexes such as the S&P 500 have historically performed wellin October (data provided by the St. Louis Federal Reserve).Nonetheless, last month was an exception to the usual trend.STOCKS WAVER IN OCTOBER

N O V E M B E R 2 0 2 3 V O L U M E 1 1It can sometimes be challenging to pinpoint the ‘why’ behind market movements. This was true last month.Are investors getting anxious about the economy? Gross Domestic Product accelerated to a robust annualized pace of4.9% in Q3, per the U.S. Bureau of Economic Analysis.However, weakness in smaller company stocks, as illustrated by the sell-off in the Russell 2000 Index (these firmsobtain their business primarily in the U.S.), might suggest there were some economic jitters.In the broadest sense, market sentiment was depressed by rising bond yields, with the 10-year Treasury brieflyexceeding 5%, marking its highest yield since 2007 (CNBC).In part, “higher for longer,” as Fed officials have been fond of saying, is playing arole. By that, they mean they expect the fed funds rate will remain elevated for anextended period of time.In part, the enormous federal deficit and the accompanying need to borrow anever-increasing amount of cash jolted the bond market.It is not easy to measure the precise effect of Fed policy and the federal deficit onyields. When a bond is bought or sold, there is no explicit justification for thetransaction on the trade ticket. However, it is fair to assume that both factors areimpacting yields to some degree.For investors, all else being equal, higher interest rates and higher bond yieldsprovide income but create stiffer competition for stocks.

N O V E M B E R 2 0 2 3 V O L U M E 1 1W A R I N T H E M I D D L E E A S TOn October 7, Hamas, a designated terrorist group by the U.S. and European Union, launched an appalling andunwarranted attack on Israeli citizens and the nation of Israel.It is difficult to be clinical and objective following the tragedy. Real emotions surface. They have their place. But inthis forum, our job is to analyze what is happening through a very narrow prism—i.e., how it might affectinvestors.When such an event occurs, investors attempt to measure the potential impact on the U.S. economy.So far, investors believe the violence will be contained. Oil prices, which briefly rose following the attack, ended themonth slightly below where prices stood on October 6 (MarketWatch data).Perhaps that is because past geopolitical shocks have not had a longer-term impact on stocks. Knee-jerk reactionsare rarely profitable.While what happensed in the past is no guarantee of future performance, reviewing 23separate geopolitical events since Pearl Harbor, the average loss for the S&P 500 on the firstday was 1.1%, and the average pullback was 4.7%, according to LPL Research.The 1973 Yom Kippur War led to the OPEC oil embargo, soaring oil prices and a steep U.S.recession, but it was an outlier. Today’s oil market is different, geopolitical dynamics in theMiddle East are different, and the U.S. is a leading oil producer.That said, any significant disruption in oil supplies would send the price of crude higher.Such an event can’t be completely discounted.Long-term performance is about time in the market, not timing the market.Your behavior plays an important role in long-term returns. How do you react when stockssoar or falter? Does euphoria lead you to become too aggressive? Does market weaknesspush you to sell after equities have already faltered?What is the best approach to your financial plan? Your mix of stocks, bonds and cash (andany other diversified asset classes) plays a role. Much will depend on your appetite to takeon risk and your time horizon. Successful long-term investors recognize that a disciplinedapproach has been the shortest path to achieving one’s financial objectives. Your financialplan helps enforce that discipline.We always emphasize that you should control what you can control. I know, I sound like asqueaky wheel... It’s not something that is set in stone. Life events can create the need for adjustments, but theplan is your blueprint for financial success.I N V E S T O R ’ S C O R N E R

N O V E M B E R 2 0 2 3 V O L U M E 1 1I really hope you found this review helpful! If you have any questions or concerns, please feel free to reach out to meor anyone on my team. We're here to help!To our valued clients, thank you for choosing us among the many advisors available to you. Your decision to workwith our firm is truly appreciated, and I am deeply honored to be your financial advisor. If you are not yet a client but are intrigued by our exceptional client experience, I would be thrilled to have aconversation with you. Let's meet and discuss all the possibilities!Wishing you and your family the Happiest of Thanksgivings!LynnLeigh & Company - A Registered Investment AdvisorThis information is provided by LynnLeigh & Co. for general information and educational purposes based upon publicly available information from sources believedto be reliable – LynnLeigh & Co. advisors cannot assure the accuracy or completeness of these materials. The information presented here is not specific to anyindividual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayerfor the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or herindividual circumstances. The information in these materials may change at any time and without notice. Past performance is not a guarantee of future returns.