Staying at Home Requires Planning
Most retirees prefer to live in their home for as long as possible. The idea of “aging in place” and staying in your home can be symbolic of maintaining your independence. However, to paraphrase John Lennon, “life happens,” so it is wise to have a back-up plan.
VA Benefit Helps with Assisted Living Expense
Although Veteran’s Day was last month, I wanted to share some information about a valuable benefit for veterans and their surviving spouses.
If you qualify (see below) the Aid and Attendance Benefit can help cover costs you incur of long-term care at home or in a facility. As of 2014 compensation from this benefit is not dependent on service-related injuries and can provide as much as $25,000 or more in assistance, depending on your income level and whether you are married, single, or a surviving spouse of a veteran, or if you have any dependents.
Cost of Senior Care vs. Access to Senior Care
During my years as a financial planner I would often hear people in retirement say that they had already planned for the latter stages of retirement because they had purchased long-term care insurance. In fact, there was a time when I, too, felt that owning long-term care insurance was a plan.
The Potentially Devastating Impact of a Fall
As described in this New York Time article titled, “A Tiny Stumble, a Life Updended”, life can change in an instant for older adults who fall. Yet, quite often, the impact is felt by close family members as well. This article is a reminder of why it is so important for older adults and close family members- typically the adult children- to be in discussion about how such a situation would be addressed.
LifeSite Logics Mentioned in St. Louis Post-Dispatch
We are pleased to see LifeSite Logics mentioned in an article released in the St. Louis Post-Dispatch this morning titled: Retirement Communities: Plush Living for a Plush Price.
Financial Impact of Family Caregiving Continues to Rise…with No End in Sight
A recent Washington Post article highlights a new study revealing that if all unpaid family caregivers who are caring for an older adult were paid for their work the total cost would well exceed $500 billion annually. Additionally, many of these caregivers are paying out of their own pocket for various needs of their loved ones.