Senior Caregiver Financial Planning

Retirement Planning for Senior Care

Complimentary Financial Consultation for Senior Caregivers: 1-877-957-9851 

No, we’re not talking about the discussion parents feel compelled to have with their teenage children. Rather, this is the conversation you fear and the one your aging parents are reticent to have.

You know, it’s the discussion about their financial condition and well-being in retirement. Take some comfort in this: You’re not alone.

A recent study conducted by Endowment for Financial Education found that seven in 10 adults say they have difficulty talking to their families about who will make financial decisions on behalf of aging family members who becomes unable to handle their money.

But there is a far more important reason to have the conversation with your aging parents and why you need to have it now. And that reason is for your own financial health!

Consider the fact that Baby Boomers are increasingly stepping in to help their parents with financial needs, largely related to escalating health care costs they hadn’t either anticipated or planned for. And this couldn’t be happening at a worse time.

As Boomers struggle to climb their own wall of challenges – saving for retirement, reducing personal debt and getting their children through college – the added burden of helping support parents can be debilitating. The financial impact of caregiving alone has been estimated to cost Americans over $3 trillion per year in lost wages.

Fortunately, there are a variety of resources that can help you start the dialogue. Put a date on your calendar to speak to your parents – for their sake and yours.

Call for a FREE Financial Planning Consultation