Topic: financial advisor
This is the third article in a three-part series on Navigating Age with Confidence
Proactive planning is essential for navigating life’s unexpected events and transitions with clarity and confidence. Whether it’s a medical emergency, a sudden change in circumstances, or simply the natural progression of aging, having a well-thought-out plan in place allows others to step in and support you effectively when needed.
Taking the time to prepare, by organizing key information, optimizing your possessions, and considering essential questions, ensures that your wishes are respected and that critical decisions can be made without unnecessary delay or confusion. …
5 Essential Questions: Building Your Plan with ConfidenceRead More »
Aside for Aging Life Care Professionals (aka Care Managers) like ourselves, the professionals below are also resources for help with planning. To find an Aging Life Care expert in your area, visit our professional association – the Aging Life Care Association at aginglifecare.org
Other professionals that can help you on the planning journey include: …
Are you ready to take charge of the future? Whether supporting an older parent or planning for your own aging, it’s crucial to understand the intricacies of long-term care and be prepared for any unexpected twists and turns.
Lisa Mayfield, our principal and founder, was invited by Kristine McHugh, Lead Advisor with Brighton Jones, to a conversation about proactive planning for the essentials of eldercare.
We’ve created a series of eleven episodes, this being the first, from this informative conversation. The next 11 weeks will provide a comprehensive review of the steps, supports, and services everyone needs to prepare for their own aging, that of their partner or spouse, or planning for your parents or others you care about.
Will you need help? According to the U.S. Administration on Aging, recent research shows that “most Americans turning age 65 will need long-term care services at some point in their lives.”1
The first step is to kind of build a team of support around you. Pull in professionals who can help you anticipate, plan for, and navigate changes.
Engaging knowledgeable professionals who can offer guidance and expertise, including:
- An elder law or estate planning attorney ensures that key legal documents such as powers of attorney for finances and health care decisions and advanced directives are up to date. This gives others you trust, whom you’ve chosen, to legally to manage finances and medical decisions if you become incapacitated.
- A financial advisor analyzes assets, projects future costs, assesses insurance options such as long-term care policies, and develops a financial plan to fund anticipated care needs. Learn how to select the right financial advisor for your needs.
- An aging life care professional (aka geriatric care manager). We provide consultation and comprehensive, personally tailored plans addressing health changes, family dynamics, housing, hands-on assistance, and more. We also assist in implementation and ongoing care management. As Lisa shared, there are people like us all over the country. Aging Wisdom serves King and South Snohomish counties in Washington State. We are part of professional association – the Aging Life Care Association– and can help you find care management professionals
Being proactive now leads to greater peace of mind and better outcomes. Preparation emerges as the key to embracing the evolving chapters of life while maintaining a sense of control and independence.
- Who Needs Care? https://acl.gov/ltc/basic-needs/who-needs-care
Additional Resources:
- What is Long Term Care? (Aging Wisdom fact sheet)
- The Power of Planning: Taking Charge of Your Own Aging Journey (article written by Lisa Mayfield for 3rd Act magazine
- Plan Your Lifespan (a website that helps you plan for health events such as hospitalizations, falls, and memory loss that may happen as people get older).
The pandemic has provided many lessons, including the importance of our communities, the value of the place we call home, and what steps to take to protect and care for our mental, physical, and emotional well-being.
All these factors play essential roles in our overall health, happiness, and ability to remain independent.
Perhaps this is why the Administration for Community Living has chosen to focus on “aging in place—how older adults can plan to stay in their homes and live independently” for Older Adults Month 2022. This year’s theme is “Age my way!” …
8 Tips for Aging Well: Make Your Plan Now for a Healthy, Supported FutureRead More »
Being a caregiver can be lonely. Over time, friends and family may start to fade away and your world begins to feel very small. As you encounter tricky situations, you might struggle with how to navigate them gracefully. This caregiving race is a marathon, not a sprint. Equipping yourself for the long haul is essential. Just as you would never head out to sea alone, you shouldn’t start this caregiving journey alone.
As you get into your lifeboat, you don’t have to float alone. Here are some key players you’ll want with you to ensure a smooth ride: …
Get in the Lifeboat: But Don’t Float Alone! Key Supports You’ll Want in Your BoatRead More »
Happy 75, Baby Boomers! 2021 marks the year that the first of the boomers — 3.4 million babies born in the U.S. in 1946 — start turning 75. My Uncle Mike, born January 5th, 1946, is one of the first to mark this significant milestone. A birthday is the perfect time to make sure you well set up for the future, especially since we all have far more time at home to focus on the tasks that many of us avoided for years.
Many baby boomers I know have had to assume the care of their aging parents. It was often a very stressful scenario because their parents did not plan, often refused help, and left adult children to pick up the pieces. Because of this experience, baby boomers are motivated to save their kids from this same fate. They are eager to plan so that their kids won’t be burdened with their future care.
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10 Steps to Set Yourself Up for Success in Your RetirementRead More »