What You Need to Know Now to Prepare for the Coming Caregiving Crunch

Read this excellent article by Ken and Maddy Dychtwald, co-founders of Age Wave, on the challenges and blessings of being a family caregiver. Contact Aspen Legacy Planning for questions about caring for an elderly or disabled loved one and the planning that we can offer to preserve your financial resources while maintaining or qualifying for government assistance programs.

We have two FREE workshops scheduled in November on Wills, Trusts, Estate Planning and Long Term Care Planning:  November 9th or November 14th. Both sessions will be at our offices and are scheduled from 5:30 pm to 7:30 pm. Seating is limited so call (605) 610-4016 right away to make a reservation. Or e-mail us and include "Reservation for Workshop" in the subject line. You can click on the e-mail link on this page or go to our Contact page and complete the "Quick Message" section.

Excerpts from the article:

Caregiving is becoming America’s new normal. Already, 40 million Americans are providing 37 billion hours of care per year to someone they love—mostly to aging parents, grandparents, and their own spouses. Often, they are simultaneously caring for their own children, working full-time, and putting their own financial futures in jeopardy. The challenges of caregiving are positioned to rock the precarious work-life balance like never before, especially for women who are frequently providing the care. These issues will only intensify as the massive Boomer generation ages—and the caregiving crunch takes hold of our country, our economy, and our lives.

Family caregiving is about to become our nation’s biggest off-the-books industry. What’s really frustrating is, as caregiving becomes a reality for most Americans at some point in their lives, it feels like no one is telling us how to prepare for it—the steps we can take now to make life easier for our family if we wind up providing care, needing care, or both.

We want to emphasize that caregiving will affect you, if it hasn’t already. Although we’re enjoying the greatest longevity in human history, our healthspans are not keeping pace with our lifespans. According to the U.S. Department of Health and Human Services, nearly 7 in 10 Americans turning 65 today will need care for prolonged periods in their lives, and 20% will need support and services for longer than five years.

Here are three important things to know:

1. There is a steep learning curve with big challenges.

2. Along with the burden, there are unexpected blessings.

3. Money is an essential part of the caregiver equation.

Read the full article at:

https://www.linkedin.com/pulse/what-you-need-know-now-prepare-coming-caregiving-crunch-ken-dychtwald/?trackingId=4JOBWNpPOmlUIEhDUVmoRA%3D%3D

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