Financial Planning and Alzheimers/Dementia

 

Financial Planning and Alzheimers

via Financial Planning and Alzheimers.

I don’t believe that a month goes by without hearing about someone I know who is going through caring for or getting care for a parent, spouse or other loved one who is suffering from Alzheimers or dementia. You know, the phone call you get from a neighbor telling you that your parent is walking down the street crying, shouting or cursing.

 For those of us (myself included) who are living through the decline of aging parents with Alzheimer’s or dementia-like neurological diseases, unfortunately this is a common occurence.  In fact one time during the early stages of  his dementia, my Father who was very disoriented thought that he was in a hotel in New York City when he was actually in the hospital near our home in Georgia! 

Without preparation, families are caught flat-footed when they realize that their parent needs some kind of full time care. Many families in these circumstances are quickly thrown into emotional and potential financial crisis without any prior preparation.

 That is why it is very important to try to evaluate the financial and  impacts from Alzheimers and dementia ahead of time. Believe me, the emotional impacts will be hard enough to deal with…

Read this article and get more informed!

Jane Nowak is a Financial Planner with Kring Financial Management located in Atlanta, Ga. Jane’s practice focuses on Women’s Retirement Planning and Financial Planning for Women. Her articles have been published on line at NASDAQ, Financial Planning Association and Womenetics.com. Follow Jane on Twitter at: http://twitter.com/moneygal2020

Even wealthy worried about healthcare costs | ajc.com

 

Even wealthy worried about healthcare costs  | ajc.com.

Maybe more Atlantans have had to pay a medical or hospital bill lately? …Regardless of where we live, healthcare costs should concern all of us! see my blog post from 8/20/2010. And read this article from the ajc.com.

Excerpt from the article: ‘Rising healthcare costs are the No. 1 financial concern among the (Atlanta) metro area’s affluent, according to a survey commissioned by Merrill Lynch.

In Atlanta, 74 percent of respondents said they were highly concerned about medical costs, up 10 points from January and nine points higher than the national average.’

Jane Nowak is a Financial Planner with Kring Financial Management located in Atlanta, Ga. Jane’s practice focuses on Women’s Retirement Planning and Financial Planning for Women. Her articles have been published on line at NASDAQ, Financial Planning Association and Womenetics.com. Follow Jane on Twitter at: http://twitter.com/moneygal2020

Baby Boomers:Is Our Health Care Still in “Critical” Condition?

 

As I become increasingly familiar with the Baby Boomer demographics, I have become proportionately concerned about the status of Medicare here in the USA. While the spotlight is firmly focused on Social Security, I think that we just may be fiddling while Rome burns.

Yes, Social Security definitely has its issues. But, what about the cost of health care? Historically health care costs go up at a rate greater than the rate of inflation. Digest these facts about the financial condition of health care in the USA:

• Current health care spending is 6.8% of a family’s household expenditures
• Current health care spending for those over age 65 is 12.6% of household expenditures 
• Employer health benefit costs are expected to rise 9% in 2010
• Employer health benefit costs are expected to rise  8.9% on 2011
• The typical employees’ wages will not be keeping up with the cost of health care
• Employers are increasingly passing a greater share of health care costs to employees
• Companies that are going through bankruptcy are terminating health benefit plans for existing employees

Something’s got to give. As the Baby Boomers age and health care costs continue to rise at a rate greater than inflation, we circle back to the same old question.  How are we going to pay for Baby Boomer health care?

I guess that is some of what Health Care Reform is supposed to do.  No wonder there was so much talk about what type of health care costs to fund! And that discussion about end of life health care, -the truth is that ‘the system’ may not be able to afford our ever-increasing longevity.

 No matter what is acknowledged publicly, those who crafted our Health Care Reform bill had to discuss when to ‘pull the plug’ on seniors and their end of life health care funding.

Jane Nowak is a Financial Planner with Kring Financial Management located in Atlanta, Ga. Jane’s practice focuses on Women’s Retirement Planning and Financial Planning for Women. Her articles have been published on line at NASDAQ, Financial Planning Association and Womenetics.com. Follow Jane on Twitter at: http://twitter.com/moneygal2020