Good Financial Reads: Elder Care

GFR Elder Care

Financial Guidance For Dementia Caregivers

by Michael Fuhr, Evergreen Wealth Services

It is overwhelming caring for a loved one with dementia. It can be as or more challenging tackling their finances. Often, parents are uncomfortable sharing and discussing their finances with their adult children and adult children are often hesitant to broach the topic. However, not discussing the finances can cause more stress and turmoil in the long run. It is a lot of work and time-consuming to manage someone’s finances including paying bills, organizing, managing investments, selling real estate or other assets, and this does not include the emotional toll of managing health and other care needs. It’s even harder when the person does not live nearby.

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3 Factors Cause Almost 100% Chance of Seniors Fall

by Quentara Costa, Powwow, LLC

I recently read Being Mortal by Atul Gawande, MD. His insight perfectly blends medicine and emotion when it comes to the inevitable challenges of aging. What struck me most was a passage related to seniors falling.

“The danger for her was losing what she had. The single most serious threat she faced was not the lung nodule or the back pain. It was falling. Each year, about 350,000 Americans fall and break a hip. Of those, 40% end up in a nursing home, and 20% are never able to walk again. The three primary risk factors for falling are poor balance, taking more than 4 prescription medications, and muscle weakness. Elderly people without these risk factors have a 12% chance of falling in a year. Those with all three risk factors have almost a 100% chance.”

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When Sibling and Aging Parents Don't Get Along

by Quentara Costa, Powwow, LLC

It’s your birthday, and mom, age 81, gives you a call. After pleasantries, she mentions how short-tempered your brother has been. She appreciates his help which allows her to remain home, but there is still more she needs – particularly companionship. She’d love to play cards with your brother or have him bring by the grandchildren, but he’s always in such a rush. Instead of confronting him, she listens to him complain about his day and says nothing. 

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My #1 Most Asked Question on Elder Care

by Quentara Costa, Powwow, LLC

Whenever I discuss elder care I can count on being asked one question…

“What if I run out of money?”

Long-term elder care solutions come in many different varieties. Some people simply need to relocate to a more social and supportive environment whereas others need physical hands-on care. Your health is what likely determines the answer to your question in the event you run out of money.

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Gift Ideas for Seniors

by Quentara Costa, Powwow, LLC

It’s the holiday season and we’re in shopping mode. Kids and significant others may be relatively easy to navigate, but what about our parents? What haven’t they already received throughout the years? What would they truly appreciate? Is it right to be giving more “stuff” to someone who is planning to or has already downsized?

After careful consideration I’ve come up with some categories and ideas to help you find the perfect gift

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Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

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