Dear Bruce: My friend, who is 71, is considering a long-term care policy that sounds like life insurance along with LTC. I've had a stand-alone LTC policy for a number of years, with the premium at $3,000 a year. Her premium would be about $8,000 a year, but would include a death benefit. Is this the best choice, including the choice of no LTC insurance? - Pat

Dear Pat: There's no right or wrong in terms of selection. Let's put aside the life insurance. How much insurance would you be purchasing for $3,000 or $8,000?

The idea of having a partial or full long-term care policy makes a great deal of sense. The cost can be very considerable; it would not be at all unusual for long-term care to cost $75,000 or more a year, which can eat up a very substantial amount of money.

As to the life insurance, that's an "if" I wouldn't be too concerned about. All that would do is increase what you're leaving, and your first responsibility is to yourself.

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Dear Bruce: My husband and I have been reading about investments in the marijuana industry, especially the penny stocks. We have a few hundred dollars that we are interested in investing in the stock. Neither of us knows anything about the stock market and how to invest. We thought we'd invest a few hundred and see how it goes.

What would you recommend for us to get started? Do we contact an investment firm, do it online such as E-Trade or what? Any information would be helpful. - T.L.

Dear T.L.: I have no quarrel with investing in many commodities, including marijuana, but I wouldn't recommend penny stocks. Penny stocks have very few lucky winners. On balance, individual investors are the last ones to know when to make a move and, as a consequence, you'll see your money evaporate.

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Dear Bruce: A former business associate owes me over $1,000 and won't pay. Can I file a complaint against his credit report with the credit bureaus? What information do I put in the complaint? - Reader

Dear Reader: The reality is, for $1,000, you're better off to forget it. Yes, you can file a complaint in small claims court, but the chances of collecting are very slim, and putting the information in the form of a complaint, even if it's all acknowledged, will do you no good. It's unfortunate that he stuck you for $1,000, but I encourage you to stop spinning your wheels.

by Bruce Williams​​ | Apr 19, 2017

 

Author: Bruce Williams​

Source: Reading Eagle Company

Retrieved from: www.readingeagle.com