If you, your parent, or an elderly loved one is reaching the point where living alone is no longer an option – for medical reasons or otherwise – it may be time to consider some time of assisted living, whether nursing home or retirement community Increasingly, many families are looking at the “Continuing Care Retirement Community” or CCRC option. Even though the CCRC may be the pricier option, a little-known tax strategy recently explained in Smart Money could make it more financially attractive.. What is a CCRC? As SmartMoney explains: As opposed to a traditional nursing home where you simply…
It’s no secret that “retirement” is a touchy subject nowadays. Costs are up, savings are down, and the public is generally pessimistic according to the 2011 Retirement Confidence Survey. As a recent SmartMoney article relates, one increasingly popular solution, although it might not be an easy one, is to escape domestic problems and costs by going global and retiring abroad. It’s hard to say just how many retirees are living offshore. They aren’t counted in the census, and many go to great pains to fly below the radar, but according to the Social Security Administration the number of retirees taking…
In addition, there will be new protections against elder abuse, neglect, and financial exploitation as well as free wellness visits under Medicare and incentives to providers to coordinate care – all taking effect in 2011.
This question was addressed on Workforce50, where the primary options: 1. Elder stays at home and enlist outside help i.e. a friend, relative, living companion, government, charitable, or a home care agency service to help the elder with their needs. 2. Move to an independent living facility, apartment or condo that does not require as much care, on one floor instead of two, or is handicapped-accessible. 3. Move in with you or some other relative or friend. 4. Enter an assisted living facility where people live as independently as they can for as long as they can, but where services…
With our thoughtful, realistic planning, caring for an elder does not have to be a financial or emotional nightmare. We, help you make the right choices for you and your loved one, you are not alone!
Frederick, MD 
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