Senior Issues

As the oldest members of the Baby Boom generation reach their 80s in the next few years, the number of Americans needing assistance with the challenges of aging is, not surprisingly, on the increase.

Some of you who read the title of this post can already feel the sweat breaking out on your forehead; for many of us, the thought of asking our parents about their finances is a daunting prospect. After all, these are the people who raised us, who guided us into adulthood; what gives us the right to think we need to know about their financial plans?

These days, we are becoming more and more familiar with the term, “Sandwich Generation:” those who are faced with the dual prospect of providing ongoing financial support for struggling adult children and simultaneously watching over aging parents who are becoming dependent.

New research from Northwestern Mutual released in November revealed some surprising insights into the emotional and financial implications of delivering care to an elderly relative or friend.

What can you do if you suspect your parent should no longer be driving? Inspect the car for dents. Meet with his/her physicians to review their health and medications. Suggest a test drive to observe and assess their ability. And, if your suspicions are confirmed, it’s your responsibility to convince your parent to surrender the car keys.

When I read Tim Prosch’s book, The Other Talk: A Guide to Talking with Your Adult Children about the Rest of Your Life, I knew I had to have him come and talk to our clients and their guests. The event is scheduled for September 4th beginning at Noon.

While it’s relatively easy even from a distance to hire someone to help your parents or older relatives with snow plowing or grocery shopping that practical help but doesn’t solve a big problem for many older people — loneliness.