Aging with Grace
Be aware of your abilities. Give those you trust the ability to help you. Seek professional help. Plan ahead. We respect your choices and work with you and those you love for your benefit.
The concept of Aging with Dignity and Grace is more than having your affairs in order. It's also about your wishes for your care and communications and requests with loved ones. Some things are easier to communicate than others. Depending on your wishes — personal letters, a video of you talking to your loved ones, and legal documents may be needed.
Helping a dying client is the most difficult part of a financial planner’s job.
Even with Medicare, it’s likely to be your largest monthly expense.
* Lost income and employer benefits
* Potentially lower Social Security retirement benefit
* Economic vulerability in event of divorce or a spouse's job loss
* Possible difficulty finding a comparable job when reentering workforce
* Flexible schedules can affect salary and career development
Women are more likely to take time out of the workforce to raise children and/or care for aging parents. Sometimes this is by choice. But moving in and out of the workforce has several significant financial implications for women.
* Women who work full-time earn, on average, less than what men earn
* Impacts savings, Social Security retirement benefits, and pensions
* Increased vulnerability to unexpected economic obstacles: job loss, divorce, single parenthood, illness, loss of spouse
* Higher health-care expenses in retirement
* Surviving spouse may have to cope with depleted savings
* Most women over age 65 will need long-term care
Many women will have a need for long-term care because they are more likely to be living on their own in later years. Long-term care refers to the ongoing services and support needed by people suffering from chronic health conditions or disabilities.
It’s hard to face the fact that our health might decline, but most women will need some type of long-term care services at some point during their lifetimes after age 65. That care can be expensive.
Let us review your situation to see if there are strategies we can offer to help with this.
Plan wisely for the cost of long-term care.
Are you and your partner a good financial match?