The True Cost of Moving to a Retirement Community
On the surface, staying in your home may seem more cost efficient than moving to a retirement community. But if you dig deeper and do the math, the numbers sometimes tell a different story.
Elder Guardianship: What You Need to Know
Elder guardianship is a legal process that is used when a person is unable to make their own decisions or communicate their wishes about health care issues, finances, property, etc. Once elder guardianship is granted to another person or entity through the court system, your individual rights to manage your personal affairs, money and/or property are removed.
CCRCs Can Help Aging Couples Stay Closer Together
About 70 percent of people over the age of 65 will need some type of long-term care during their lifetime, according to the U.S. Department of Health and Human Services (DHHS). On average, women will need care for a longer period of time (3.7 years), compared to men (2.2 years), and 20 percent of 65-year-olds [...]
Seniors’ Relationship with Their Primary Care Doctor is Key
Choosing a primary care doctor is an important decision that can affect seniors’ current and future health and quality of life. Here are some tips to help you select the right provider to meet your healthcare needs, now and as you age.
A New Year and a Healthier You
The beginning of a new year is often the time people resolve to establish and maintain a healthier lifestyle. Being active and exercising regularly are good for everyone’s overall health and well-being, but this routine is even more important to maintain as we age.
Community living can help you retain independence, quality of life
So it should not be surprising that a move to an independent- or assisted-living community—or a continuing care retirement community—can help you to more fully enjoy your retirement years. Such housing options can provide activities and social interaction, enabling you to be as active and connected as you want to be.
Holidays Are A Good Time to Talk With Parents About Retirement Plans
The holidays are about families coming together to celebrate and look ahead to a New Year. What better time, then, to talk to your parents about their future?
One of the more important—and complex—decisions your parents will make is where they will live in retirement. By initiating this conversation, you can help kick-start the decision-making process to ensure that everyone’s needs and wishes are met.
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.