Flash Report - How to Help Parents - and Yourself - Live Better at 80, 90 and Beyond
They say we get wiser as we get older, but let’s face it: Many new uncertainties and challenges can crop up as people get deeper into their golden years. Changes in physical health and issues with memory can mean you—or your elderly parents—might require new types of never-before-needed assistance.
With that in mind, here’s a look at two key issues that may impact your life or the lives of your elderly parents—aging in place, and safeguarding wealth from costly cognitive mistakes.
There’s no place like home
More than 75 percent of Americans age 50 and older want to stay in their current homes and communities as they age instead of moving to a nursing home or elsewhere, according to AARP.
But wishing doesn’t make it so. To potentially make that happen for you and your spouse or for your parents (or all of the above), you need to plan with the same level of seriousness that you plan for your financial future.
According to Kim Evanoski, CEO of care management company Care Manage for All, some of the key issues surrounding the idea of aging in place include the following:
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How to Help Parents - and Yourself - Live Better at 80, 90 and Beyond
Robert J. Pyle, CFP®, CFA is president of Diversified Asset Management, Inc. (DAMI). DAMI is licensed as an investment adviser with the State of Colorado Division of Securities, and its investment advisory representatives are licensed by the State of Colorado. DAMI will only transact business in other states to the extent DAMI has made the requisite notice filings or obtained the necessary licensing in such state. No follow up or individualized responses to persons in other jurisdictions that involve either rendering or attempting to render personalized investment advice for compensation will be made absent compliance with applicable legal requirements, or an applicable exemption or exclusion. It does not constitute investment or tax advice. To contact Robert, call 303-440-2906 or e-mail info@diversifiedassetmanagement.com.
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