It can be heartbreaking when one of your clients dies and leaves a grieving spouse behind. During this sad and often tumultuous time, it’s hard for some surviving spouses to know how to move forward amidst their grief. As you know, after a spouse dies, there are many tasks that have to be tended to. Luckily, they have you as an advisor who can point them in the right direction [...]
Across the globe, nearly 40 percent of older adults (aged 60 and older) live with extended family who are there to assist them when they need it. But in the United States, older people are far less likely to live this way. In fact, only about 6 percent do, according to a study by thePew Research Center. This leaves a large proportion of older adults either living on their own [...]
When it comes to retirement and aging, many of us don"'t think twice about planning for our golden years. It can be exciting to look ahead and prepare financially for that time and place to do what we"'ve always wanted to do like traveling, taking up a new hobby, visiting grandchildren or even starting a second career. Aside from the enjoyable aspects of life in retirement, we also have [...]
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 [...]
Much has been written regarding “getting your affairs in order.” Too often planning is geared towards incapacity; a will, power of attorney, and advanced directives are created. What is overlooked is the importance of planning for what happens in the years prior to incapacity. There is a stage between independence and incapacity that require careful planning. The interdependent stage of aging is when the person can manage their life but [...]
Aging alone is challenging and scary! “Solo Elders” is the term used to describe older individuals who have no partner or children. This can also include seniors with children who are estranged. Often, estate planning and long- term care are the biggest issues they face. They do not know who to leave their estate to and they are concerned about who will care for them. In addition, they face fears of isolation and loneliness. [...]
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 [...]
As published by Independence Advisors, May 14, 2018. We have all heard the story about: The grandmother who fell victim to a financial scam The widow’s house that fell into disrepair The son who had to take Dad’s driver’s license away because he crashed the car These costly mistakes may have been avoided had the individuals relinquished responsibility for the tasks before they were no longer capable of managing them. [...]
For many older adults, life after retirement is busy and full of meaning. Grandkids, volunteer work, travel and hobbies keep them active, engaged and full of life. But inevitably, something happens — an illness, a fall, the death of a spouse, or even a mild cognitive decline — and life becomes more stressful and difficult. Daily tasks that were once easy to manage start to slip through the cracks. Bills [...]
