-
Caregiving for aging relatives can sap retirement savings. Here’s how financial advisors can help
Andy Duplay was trying to save his family. The Ohio technical consultant’s in-laws — Bob and Jean, both 75 — were suffering mental and physical breakdowns after a death in the family, and they needed help. The family decided to move Jean into a nursing home and Bob into assisted living, but the costs quickly became overwhelming. “Bills were in the $10,000-per-month range, and Jean was becoming a zombie in the nursing home,” Duplay wrote in a blog post detailing the harrowing experience. “At the rate money was being spent, they would be broke within a year.” Finally, Duplay and his wife worked out a solution: They bought a bigger…
-
Knowing Your Relatives’ Genetics Can Help Your Financial Planning
Shot of a mature guy and his aged father obtaining espresso and a chat at house getty Throughout the holiday seasons you could have recognized how your family have aged and couldn’t assistance but replicate on your individual genetics. Experience it. At some level you’ll have to question your “first degree” relations – individuals who share 50 percent of your genetic facts like siblings and moms and dads (and offspring) — uncomfortable issues. The holidays may have been an awkward time for hard discussions. But be settled to ask genetic concerns in 2023. They are intertwined with economic and retirement arranging in ways that could not have transpired to you.…
