As Rosalyn Carter eloquently stated:

There are only 4 types of people:
those who have been caregivers, those who are caregivers,
those who receive care, and those who will be caregivers in the future!

 

  • How many children are really prepared for that phone call from one of their parents or loved ones that will turn their lives upside down?
  • If you are the parent, are you prepared and have you talked with your children about your wishes if something should happen to you and you need assistance?

The secret is to be prepared so when a triggering event should happen, you will feel confident making decisions and everyone involved will understand what’s expected.

My goal this month is to inspire you to become prepared for this role in advance so that when a triggering event should happen, you will feel confident in making decisions, and everyone involved will understand what is expected.

This is a difficult topic because we must deal with either our loved one’s disability and mortality or plan how we want our own end of life affairs handled.  But I promise, it doesn’t need to be morbid or difficult.

As a Certified Senior Advisor, I have helped clients for the last 30 years plan for their “golden years,” including how they will address the issues of aging and remaining independent. I also have experienced it personally as the Designated Daughter® with my own parents, my grandmother, my great aunt, and dozens of clients.

One of the biggest issues many face when it comes to long-term care is how to pay for it.  Savings or long-term care insurance are two financial strategies, but for many, they are simply not an option.  With statistics that show 68% of those over 65 will become cognitively impaired or unable to complete at least two “activities of daily living” (including dressing, bathing, or eating) during their lifetime, it’s time to look at other solutions.

This month, I am thrilled to be interviewing two experts who will show you how to access several government benefits that can allow you or loved ones to age in security by tapping the equity of their home or to protect assets for loved ones while accessing government benefits for additional long-term care expenses.

For a private consultation with me on this topic, visit www.talkwithkatana.com.  If I cannot help you myself, I can refer you to the appropriate resources based on your location.

Enjoy this issue of Smart Women, Smart Choices and please invite your friends to join our Smart Women Community at www.JoinSmartWomen.com!

 

Katana Abbott, CFP®, is a Retirement Coach, founder of the Smart Women Companies, and the host Smart Women Talk Radio with over a million subscribers.  For over 30 years, Katana has shown women how to take charge of their life and finances and believes it’s never too early to plan for expected and unexpected events like retirement, encore careers, moving abroad, or preparing for long-term care.  She has written several books, created a financial literacy course, and is a popular speaker. Katana has been honored by NAWBO as one of Detroit’s Top 10 Business Women, receiving the Breakthrough Award. To download her new ebook, The Five Biggest Money Mistakes Women Make and How to Fix Them, visit www.katanaabbott.com