Elder Care

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Vital Elder Care Details

Submitted by Mark Rogers on Monday, February 1, 2016 - 12:00pm

Health-care costs for seniors receive a lot of attention, but many people fail to consider other important aspects of elder care. Tackling difficult conversations about elder care now helps you make informed decisions about this unavoidable stage of life.

Advances in medicine and nutrition mean that people live longer. According to the Center for Disease Control, Americans who live to age 65 have about 19 years of life ahead, including nearly 14 years in relatively good health.

Avoiding Senior Scams

Submitted by Dan Crimmins on Tuesday, January 26, 2016 - 12:00pm

Old age should come with a caution label for many reasons. Most of us expect to live longer than our parents or grandparents. And with longer life come difficulties – and sometimes financial predators.

We all know the major difficulty of making sure that your income can keep pace with your cost-of-living increases, especially if your retirement lasts 30-plus years. We often speak about the need to plan and have your portfolio designed to account for that length of time.

Elder Care Discussions

Submitted by Eric Hutchinson on Tuesday, January 19, 2016 - 12:00pm

Emotions involved with caring for the elderly can seem almost as overwhelming as the finances. As your loved ones age, what topics must you be ready to discuss? Beyond money, you need to talk about independence and basic preferences for the way individuals want to live or die.

Aging Parents and Money

Submitted by Maureen Crimmins on Thursday, December 17, 2015 - 12:00pm

Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully.

When you hit a certain age of your life, you may realize that one topic keeps coming up in conversations with your friends: care for aging parents. The concerns aren’t limited to health care; managing money is also a big problem.

Parents aren’t likely to recognize their own declining abilities, so knowing when and how to step in to help is important. Here are some tips:

Divorce as Elder-Care Solution

Submitted by Eve Kaplan on Thursday, December 10, 2015 - 12:00pm

A confluence of circumstances can conspire against marriage amongst older couples: longevity, soaring elder-care costs and a lack of long-term care (LTC) insurance. Divorce, even if painful, may hurt less than living in near poverty untilMedicaid finally kicks in to cover an ill spouse.

Medicare insurance only covers up to 100 days of nursing care. If you or your spouse need nursing or LTC, you either pay out of pocket until your assets fall below a low threshold or tap your LTC insurance.

Top Tips to Help Aging Parents

Submitted by Tom Orecchio on Wednesday, December 2, 2015 - 12:00pm

Whether they want the role or not, adult children often find themselves in the position of primary caregiver for their parents. Unfortunately, many of us are not prepared for that role.

We often find ourselves so engrossed in how fast our children are growing up that it’s easy to sometimes forget that our own parents are also aging. Finances can be very dicey for members of the “sandwich generation,” which simultaneously cares for children and parents.

Talking About Death

Submitted by Rick Kahler on Friday, November 20, 2015 - 9:00am

One of the challenges in financial planning is the strong taboo in our society against talking about money. Another powerful taboo is talking about death when someone has a serious illness.

Insuring Long-Term Care?

Submitted by Brad Mueller on Tuesday, November 3, 2015 - 9:00am

You know the day’s coming when you need extra care – at home, in a hospital, in a special residence. You also know your care in those times will cost big bucks. Here’s how big, and how to prepare.

Choosing Care for the Aging

Submitted by Patrick Brault on Friday, August 21, 2015 - 3:00pm

If you’re like many Americans, you get a look at the effect of our aging population right in your own family. Looking after graying parents and other loved ones can mean a rough transition and sometimes discussions on who will manage a charge’s welfare come too late. When and how should you start planning?