Care - Are You Ready

Planning for care is never easy.  I most cases these responsibilities happen for many out of necessity. A parent breaks their hip .... and then the choices have to be made.

For many baby boomers they are also dealing with their own issues like job loss, health concerns and their own retirement concerns. Add the responsibilities of an aging parents this can create pressures that many have not planned for.


When talking about care issues there are four main issues we all deal with (and make sure to check the video from CBS below for more ideas too)



Health
What issues are your aging parents dealing with and what drugs do they take? Who are their doctors, specialists etc. Physcial, or emotional it is important to know what is going on to be a better care giver.


Financial
How are your parents doing financially. Are they able to pay their bills, and do they. Are managing debt, and are they able to manage a fixed income. If they are playing on moving or downsizing, what impact will this have on their income? As a care giver it might make sense to meet with your parents and their financial advisor.


Legal
Have your parents updated their will, representation agreement, and power of attorney. Have they shared their desire of type care they want, or need. Do they have a DNR order and have they discussed this with their doctor.


Living Arrangements
How are they doing their own home? Does downsizing make sense? If moving makes sense where would they move ... assited living.... independent living. Many parents like the idea of not having to cook or clean ... but are unsure if this is for them or if they can afford it. Moving at the right time can mean the difference between living together and not.

CBS - Many Baby Boomers Are Not Ready for Elder Care

For some great answers follow our RSS feed or attend our next Boomers and Parents Event.


Post provided by Mike Hassard contributor to "Boomers and Parents". For more ideas regarding aging, downsizing and the financial issues that go with it check my blog at http://mikehassard.blogspot.com.