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Reply to "If your financial plans include caring for aging parents..."
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[quote=Anonymous]I would have a face-to-face conversation with them about it, saying that you care, you are concerned and you want to know their plan or help them make a plan. And push for a meeting with a financial advisor. You may find a good affordable financial advisor through AARP, USAA, or some other group they are members of. Some of things the finacial adviser will help them do: - make list of all assets and discuss how to leverage (repair & sell the house vs. stay in it) - decide when to claim social security http://www.aarp.org/work/social-security/social-security-benefits-calculator/ - figure out retirement budget ($ coming in minus debt) - cut expenses - try to prepare savings for big events that will surely come (big home repair or health expense) Any chance your father is a Veteran? VA services were excellent for my dad when he was 65+.[/quote]
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