Monday, October 13, 2014

Are you ready to take care of your parents?

Talking about the future care of a parent can be one of the hardest conversations people have especially if the parents are included in the conversation. It seems parents are reluctant to explain their finances to their children and children are feel they are intruding if they push. This can lead to unexpected expenses later in life for adult children.

Image courtesy of photostock
"A third of family caregivers spend over $10K a year," according to recent a article in the USA Today.  "About a third of family caregivers spend more than 30 hours a week on caregiving tasks, a new survey shows. And about a third spend more than $10,000 a year on caregiving expenses, such as medications, medical bills, in-home care and in some cases senior housing."

This is a short article. It might be just the ice-breaker someone needs to start a dialogue with the family. If families can get their parents to open up earlier, it could make their parents' remaining years much more comfortable.

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