ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

How to help our parents, friends and neighbors, the oldest generation?

Updated on September 21, 2016

How to decide what on services? Who can help?

The oldest generation and what they can teach us about masterful aging gracefully? First, we need to define, who is the oldest generation? Defining the oldest generation is to each and every one of us. They are our parents, grandparents, and neighbors. This is the correct answer for all of us. Each of us has people who are older. They have been called The Greatest Generation, the Sandwich Generation, and many more descriptive, collective

Many of us provide emotional and physical care for our relatives. The time in our lives was originally spent to look forward to as our retirement in the ‘golden years’. We all became aware of a change in financial status when there was a banking bubble that burst in the 2000’s. Originally believing this downturn would right itself and our retirement funds would be safe once again. Time and investigation have provided a much closer look at our situation. Now we know the truth and we do not have the time or education to amass another retirement fund.

Our parent’s also had their funds invested, believing they were safe to provide for health and lifestyle as they entered their 'Golden Years'. Now we see that the Oldest of the Old is very possibly our parents and in many cases ourselves. Where do we go from here?

We need to prepare as a society to care for our older adults. This is the time to put on those ‘thinking hats’ and look to how we can make it. We need to look for financial information to help us go forward with a financial plan for our parents. For many of us, our parents lived through a time when finances and investments were not discussed. Now is the time to discuss and learn not only where the funds are housed but also what our parents want in their golden years.

So peaceful before the storm.
So peaceful before the storm. | Source

What are we talking about, finances, medical problems, estate planning and more?

Certainly, health care is important for our retirement. It is about now that we find the Long-term Care Insurance Policy, our parents bought and paid for each month for years, is not going to meet their needs. How do we tell them? The first of the long – term care policies was aimed to belay fears of being left in a nursing home. These policies were for physical medical care for those aging in place. They were not for dementia, dependent on drugs or looking at a progressive medical diagnosis. Most of these policies were at the time of selling the best insurance to get. Today due to medical research and advances this insurance in most cases does not meet the needs.

Stepping back to look at how we will met the financial obligations to meet all of these new expenses. Attention today must be paid to the how we can pay for home care, assisted living or extraordinary medical care. Currently, Medicaid and Medicare are blanketed in paying for a short time need. Believing our medical system would provide in the short time to diagnosis and treat our loved ones. Now we look at the long-term help, providing a safety net for those diagnosed with dementia (dementia is associated with many different diseases). How are we to develop care for those addicted to alcohol and drugs (this would be the scourge of our parent’s and our generations)? Alcohol and drug addiction have been sweep into a corner for so long many may not even recognize the symptoms. Many designer illnesses are seen now that were not seen before. Although having been there for years we have changed the names (Dementia was Organic Brain Syndrome in the 1980s). And of course, we must also pay attention to those illnesses which are on the rise again (polio, shingles and more).

Finding the answers can be easier than some might think.

There is some help available, we only need to sit down with family and put a plan together. First finding all assets, then looking at the impact of losing these assets. We will need more than our home, collectively adjusting our lifestyle and more to meet present day medical care. Helping our parents, siblings, and others are minor compared to buying a house. First, we need to meet with the person(s) which we are attempting to help and understand what they are expecting. This is very important and should be the first consideration to help them meet their expectations.

After looking at the expectations desired to meet the needs and understanding how we can make this happen. There are those having all the funding they will ever need and will be able to continue meeting their needs financially. However, it is more likely costs will surpass the funding available. We will need the skills of an Elder Care Manager or Geriatric Case Manager. Finding the answers to these alto important questions and more while helping our loved ones.

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)