Caring for Mom as You Near Retirement -
Mom’s aging. And the faithful caregiver who has been there for you throughout your life may now be starting to show signs of aging like forgetfulness or anxiety over making big decisions. If dad's passed away or unable to help care for mom, sooner than later, whether she wants to admit it or not, she will need your help.
As life expectancy increases, and baby boomers advance well into senior years of their own, the need for caregiving will only continue to rise. But who will provide caregiving for mom once her memory really fades or she needs regular nursing care? What happens if a nursing home is necessary? Do you know whether mom has a plan for nursing care expenses if she might need institutional or in-home care? What legal documents does she have in place to express her wishes for care?
According to Wealth Psychology Expert and Coach Kathleen Burns Kingsbury [https://www.breakingmoneysilence.com/podcast-2/], 61% of women would rather talk about their own death than money. Many older women were raised thinking that “it’s a man’s job to manage money,” and therefore, women are often uncomfortable talking about money or finances or may simply be unaware of their own financial situation. Yet, you may find in your conversations with mom about planning for the future that she’s grateful to have help with these issues. As she continues to age, it’s more important than ever to plan a discussion now.
Here are some tips on how...
