Guest Post by Sasha
I can safely say that I’ve been living life as a responsible adult for more than a decade, with all the ups and downs and missteps that entails. But as I get older, the obvious is lurking in the background, reminding me that my parents are getting older as well. I see them require more and more in terms of health care, and I’ve noticed that they have slowed down, that they are more careful with their movements.
I expect them to live a long while yet, but I have to consider what that means. It means that both their health and emotional needs will evolve. That’s the natural course of things. It means that we’ll all have to consider the financial ramifications of long life – in sickness and in health. It means that there might be changes to their lifestyle that none of us can necessarily predict.
What kind of assistance will my parents need? Will I be the primary caregiver? What if they have serious health concerns that require professional care? How do they feel about that? What are their worries and anxieties? How will all this be paid for? What does the future hold?
These are big questions. And of course, no one can know what the future has in store for us. But we can make a plan. We can deal with basics like making a list of all relevant information about doctors, lawyers, service-providers and family members. We can make sure we’re up to date with all legal documents. We can even try to foresee contingencies.
We can prepare financially so that we don’t have to tap into any of our hard-earned nest eggs. We can consider long-term care insurance, and educate ourselves about what policies are available and best for our family. There are free resources to learn about long-term care and the cost of care offered at Genworth Financial.
Most of all, we can talk to our parents, and make sure that their needs are being met. It’s not an easy discussion to have. But they were there for me throughout each new stage in my life, willing to support me and have whatever conversation was necessary. I should be able to support them.