I may not be the best at money management, but one thing I did right was buy long term care insurance at a young age. My previous employer offered it, and I signed up for it, and I could take it with me when I left. It is with a great company. My premiums are very cheap, but they will go up over time with inflation.
Dave Ramsey would tell me I did the wrong thing in buying it when I did--that I should have waited until I was older to sign on for the insurance. But I don't agree. Yes, I could have not bought the insurance and invested the premiums, yadda, yadda, yadda. But my annual premium is only about $350, and I don't think that money, divided by 12, would have made that much difference to me. I probably would have used it on another evening out. But that same $350 a year gives me peace of mind.
I guess I am just hyper about being able to control my own destiny. I have a strong fear of someone being able to tell me what to do or how to live, or taking care of me in a way that I don't like.
LTC insurance lets me feel like I will stay in control of what I want. After all, I could have a wreck tomorrow and need that care now, not when I am elderly.
