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  • John Todd

“My Friend said it’s too late . . .”

My daughter came home from work this week and was telling me about a co-worker who is always giving advice.

First it was that she needed to buy a new car.

“Umm, this one’s paid for and I’m staying out of debt.”

Then she was told that marketers would expect her to be an impulse buyer, based on her age, because when SHE was in her 20’s she got a credit card and maxed it out.

My daughter’s thinking, “What part of dumb do I look like. Of course, I’m not going to get a credit card and max it out – that is just stupid. And by the way, if you did THAT, why would I listen to any life advice you might have for me?”


That reminds me of a conversation with one of my customers this week.

I help people qualify for Nursing Home Medicaid, while helping the spouse and children to preserve as much of their life savings as the rules allow.

You see, I worked in the Long-Term Care Medicaid office for five years, and I know the rules inside and out. I had advised one family on how to preserve the home for a disabled adult child. . . then I got the call.

“My friend says that it’s too late . . . I can’t do that.”

Of course, I had to ask, “Is your friend a Medicaid expert? Because, most of what our friends know about Medicaid is only partially true.”

Another example comes to mind.

If you were to ask your friend, whether you are expected to pay taxes on income you received, probably they would say “YES.”

But if you ask your accountant or tax preparer if you have to pay taxes on income, the might say, “Well, it just depends . . .

Was the income earnings from a job?

Or was it a gift from your parents?

Was it from an IRA or a Roth IRA?

Was it income from your farm or business? Did you have any expenses?

You see, when the accountant knows the rules, he also knows the exception to the rules . . . and the details matter.

Whether the amount you pay in income taxes is a little or a lot or none at all depends on the specific type of income and the complex IRA rules.

Have you heard some “Free Advice” about paying for Elder Care? It would mean the world to me to hear about it. You may kindly reach out to us on the contact details below.

I personally read every email, and may be able to address you question in a future email.

John Todd



PO Box 2216, Lewiston, ID 83501

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