Mike is 85 years old and has always handled his family’s money and bills. Unfortunately, Mike recently had a stroke, is in the hospital and incapable of paying the bills. His wife, Sarah, has never handled their money so doesn’t even know where to start. *********** Maria is 90 and has lived alone for the past 15 years. She missed paying a few bills in recent months and is now [...]
Financial Independence is having enough income to pay for regular living expenses without working for the rest of their life. Assistance may be needed with the preparation of bills or taxes. As we grow older, one of the main stressors that will never leave is the burden of finances. Handling finances becomes increasingly difficult with age, not to mention the added stress of wondering how to pay for care as [...]
So, you planned ahead. You purchased long term care insurance (LTCI). You paid the premiums religiously. You think that, when the time comes, you’ll just file a claim and receive a check. The process seems simple enough. Think again. Most LTCI policies require that the insured demonstrate either cognitive decline, as determined by the insurer, or show an inability to complete two activities of daily living (e.g., eating, dressing, personal [...]
Image a retirement that is all it’s hoped to be – fun trips, time with grandkids, long afternoons, gardening, and walks. Then it happens. A fall, an unexpected death, an illness, a slow but certain cognitive decline. The independence and freedom of a healthy retirement is gone. In the elder care world, we call this a “trigger event.” We have seen this happen over and over again. There is little [...]
