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Dealing with all of this with my mother has made me think a lot about my own future. I do not want to leave my kids in a bad position. I’ve been reading a lot about long-term care annuity versus long-term care insurance. I’m leaning towards going the annuity route. Do any of you have experience with a long-term care annuity?

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Why not just invest wisely and long term. See an advisor. The down side of annuities is if someone dies early there is a tax liability. My brother died at age 62. As executor and the way he left that to 2 beneficiaries they were advised to take payments over 5 years so that the tax hit was less. If money came from stocks or mutual funds, they would have inherited on a stepped up basis
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www.bogleheads.org for the best UNBIASED financial advice.
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You need good and solid financial advice. Annuities are sold by insurance companies and their salesmen support themselves on commission. They make money selling them. They aren't always the best investments, dependent on your particular situation.
Long Term Care Insurance is costly, and often tricky when you try to access it. Being self insured (read, having a lot of money) is the better way to go. The question is how to get there.

Dependent on age you will want good diversity of investment to make yourself financially self-insured. And that happens over a lifetime unless you strike gold or oil.

Do you listen to Dave Ramsey's podcasts/programs? Have you ever attended his seminars? You will get for little money a really good basis in how to save and how to invest. He also has great books. He is faith-based, and I am not, but I truly admire this man. He also has a list of trusted financial advisors. If I needed help that's the route I would go--my starting place. Because you would meet people who could help support your plan.

Right now there are good interest rates and you can get 5% on your savings at FDIC insured bank. Chuck your savings away a while and let it grow while you educate yourself before trusting a salesman from an insurance company would be my advice. He's making a commission. (as in "follow the money". I am not saying annuities are wrong. I am saying they are not for everyone.
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Oedgar23 Jul 2023
I have recently begun watching Dave Ramsey. And Suze Orman! I’ve always been a saver, but with one kid in his senior year of college, and the other in her second year, not much saving going on these days! Husband I are 50 and 51. He has major longevity in his family. Grandparents lived to 99 ( and counting!), 98, and 96,, and 89 years old. My family not as much! I think I’ll live into my 80s like my grandparents. I just don’t want my kids to worry. One of mine has Aspergers, and truly won’t be equipped to do the things we’ve done for our elders!
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