Lily Vittayarukskul shares her remarkable journey from working at NASA in her teens to founding a company that innovates with AI to transform long-term care planning. We explore why long-term care remains one of the most misunderstood and underserved areas in wealth management, despite being one of the biggest retirement risks. We break down how long-term care works, who needs it most, the pros and cons of self-funding versus insurance products, and why many families fail to plan until it's too late. We discuss... <ul> <li data-end="148" data-start="0">Lily Vittayarukskul shared her early fascination with aerospace engineering, including work recognized at age 12 and a role at NASA's JPL by 16.</li> <li data-end="257" data-start="149">A personal long-term care event in her family at age 16 prompted her pivot from aerospace to healthcare.</li> <li data-end="385" data-start="258">She built technical expertise in genetics and AI at Berkeley before founding a company focused on long-term care solutions.</li> <li data-end="661" data-start="518">The ideal candidates for long-term care planning are typically 40–60 years old, upper-middle-class individuals with $2–5 million in assets.</li> <li data-end="787" data-start="662">Many financial professionals avoid long-term care due to its complexity, morbid nature, and time-consuming conversations.</li> <li data-end="1086" data-start="933">Traditional long-term care policies and hybrid/lump-sum products each have advantages depending on individual circumstances and predicted care needs.</li> <li data-end="1216" data-start="1087">Self-funding long-term care is an option, but many clients are risk-averse and ultimately prefer a structured insurance plan.</li> <li data-end="1358" data-start="1217">Lily's company uses decades of data to predict long-term care events and costs, helping advisors map policies to individual client needs.</li> <li data-end="1475" data-start="1359">Long-term care planning is as much about protecting family members and legacy as it is about financial strategy.</li> <li data-end="1624" data-start="1476">Conversations about long-term care should start with a professional, involve spouses, and eventually include children or trusted family members.</li> <li data-end="1918" data-start="1781">Many clients struggle with the emotional and logistical burdens of caregiving, which can impact their own health and quality of life.</li> <li data-end="2198" data-start="2071">The topic is often avoided culturally because it forces acknowledgment of aging, mortality, and potential loss of autonomy.</li> </ul> Today's Panelists: <ul> <li>Kirk Chisholm | <a href= "https://www.innovativewealth.com/">Innovative Wealth</a></li> <li>Barbara Friedberg | <a href= "https://barbarafriedbergpersonalfinance.com/">Barbara Friedberg Personal Finance</a></li> <li>Douglas Heagren | <a href="https://mergentcollegeadvisors.com/" target="_blank" rel="noopener">Mergent College Advisors</a></li> </ul> Follow on Facebook: <a href= "https://www.facebook.com/moneytreepodcast">https://www.facebook.com/moneytreepodcast</a> Follow LinkedIn: <a href= "https://www.linkedin.com/showcase/money-tree-investing-podcast">https://www.linkedin.com/showcase/money-tree-investing-podcast</a> Follow on Twitter: <a href= "https://twitter.com/MTIPodcast">https://twitter.com/MTIPodcast</a> For more information, visit the show notes at <a href= "https://moneytreepodcast.com/transform-long-term-care-lily-vittayarukskul-762" target="_blank" rel= "noopener">https://moneytreepodcast.com/transform-long-term-care-lily-vittayarukskul-762</a>

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