Archive for category Financial

Caregiving For The Elderly


Have you ever considered the complex job of being a caregiver for an elderly individual?  Did you know that in the United States, the vast majority of care that allows older people to live at home is provided by family members?

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Retirement- Some Thoughts…


Considering retiring early?  Here is a terrific article on some items to consider regarding your retirement.

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Does It Matter Whether We’re Cremated or Buried?


Does It Matter Whether We’re Cremated or Buried? | Desiring God.

Do you have a loved one in your life who is aged?  Have you discussed their choice for burial or cremation?  Do you plan to respect their wishes?

This is an issue I have pondered for years, as I consider my grandmother who is in her 90’s and confused.  She stated clearly to me years ago, that she wanted to be buried by my grandfather.  I realize that the decision to bury her lies with her adult children (not me).  I can only hope they will respect her wishes.

I have considered both the pros and cons in relation to burial versus cremation- not only for my grandmother, but for my parents and myself.  There are different issues that affect people’s decisions:  cultural and religious traditions, financial impacts, and even environmental aspects.

Today, I read an article by a Christian who stated that the Christian tradition is to bury the dead.  John Piper stated it well, “The biblical pattern is that burning your children is pagan and burying your loved ones is a sign that you believe in the resurrection.”   Many Christians still bury their dead, but there has been an increase lately in cremation.  The Jewish tradition is to bury their dead.  I have read that Hindus cremate their dead and Muslims bury their dead.

This is certainly a sensitive topic, but one that should be discussed with our loved ones.  What do you think?


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Financially Supporting Your Adult Children- Pros and Cons


Parents – Guide to Buying a Home for Your Child |

Have you ever given money to your adult child or loaned money to your adult child?  There are not only financial pros and cons to this, but emotional and relationship issues involved.  This is a terrific article with many different examples of such situations.


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Having a Mid-Life Crisis?


Men’s Midlife Crisis: What to Do.

A reader of this blog recently sent me some information regarding the financial cost of a mid-life crisis (*See link below).  I have considered the depression and anxiety that accompanies a mid-life crisis and how choices that are made abruptly can affect the entire family (such as an affair or divorce).  But I have never considered the financial cost- such as the cost of an expensive car, a breast augmentation, etc.

I also hadn’t considered that women can experience this as well.  I have always assumed it was primarily about men- as the mid-life crisis is often associated with the primary provider’s feelings of being “stuck” in a career he hates.  So, thank you to my reader who sent me this information- it got me thinking and doing some reading.

I found some terrific suggestions on how to deal with those feelings of dissatisfaction that often spur on a mid-life crisis.  Here are some suggestions from web-md if you are in a slump and want to make wise decisions: Read the rest of this entry »

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Does It Work? Long-Term Care Insurance


Why it’s Time to Change Our Approach to Long-Term Care | Fox Business.

Do you own a long-term care insurance policy? There was once a belief that this system would work- insurance to pay for time spent in a nursing home. However, as the Baby Boomers age, the long-term care insurance market has shrunk. In 2000 there were 100 companies that sold this insurance; in 2013, there are only a few dozen. Major ltc ins. companies have “abandoned the market because they cannot make the product work profitably”. According to this article, 70% of Americans will need long-term care at some point as they age; however, only 10% of Americans have ltc insurance.

This article discusses the need to create other solutions to pay for long-term care (like the private market becoming more involved). Currently most of ltc is paid for by Medicare and Medicaid (for those with low income). One solution was for an individual’s life insurance policy to be turned into a long term care benefit (instead of the money being left to a surviving spouse).

Other solutions (not in this article) that have been discussed is the government cutting, or limiting its coverage to seniors. (For example, no feeding tubes in certain scenarios).

If only Americans had more of a futuristic mindset, vs. a “what I want now” mindset. Unfortunately, most people won’t save for that rainy day, month or even years that may be spent in a nursing home. So many people are not eligible for Medicaid and can’t afford to pay for long-term care out of pocket. What is the solution?

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How Older Parenthood Will Upend American Society


How Older Parenthood Will Upend American Society | New Republic.

This was a very interesting article about the “new older parenting”: when women (and their equally older spouses/mates) are postponing the age at which they are having their first child. The primary reason for many of these women is that they have chosen the path of education (college or advanced degrees), having a career and saving financially— before having children.

For many of these older women, various reproductive therapies must be used to get pregnant. The combination of the use of drugs with a woman’s older age (* first child born to a mother over 35), unfortunately comes with an increased risk of premature births, birth defects, learning disabilities, autism, Down Syndrome; amongst other challenges. Many of these older couples end up having less children all together than their younger counterparts.

Many of these older couples are also part of the sandwich generation: caring for young children and older parents in need– at the same time. Ultimately, this article argues that postponing childbirth (for whatever reasons) comes with increased difficulties for families and society as a whole.

Even though we think of the world’s population soaring, there are a number of countries that will have far more older people in the future than young people (they will not fully replace their population and some governments have offered incentives to increase the number of babies born- for example Russia). Younger people are needed to both financially support their seniors (through various taxes/governmental programs) and support them physically (ie, checking in on mom and dad as they age).

On the other end of the spectrum, when people postpone the age at which they have their first child, they may end up dying while their children are still relatively young- still in their mid 30’s or 40’s and in need of mom or dad. (Yes, adults still need the help and guidance of their parents).

On a personal note, I went to graduate school to be a social worker and then only worked three years. I chose to end my career and have my first baby at age 27. I have chosen to postpone my career… having my third and last child at age 33. It meant sacrificing a career I loved and sacrificing many years of financial income. This time as a stay-at-home mother will soon be over. I will have many more years to work and I don’t think I will ever regret my decision.

This article delivers a fairly strong debate against older moms having babies (and questions what can be done by governments and the job force to help support young moms who what to work and have children). Certainly, there are many success stories- of healthy babies and happy families that rejoice at finally being able to have a baby. What is your opinion?

For more on this insightful article, full of terrific information, click above.

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Whistle-blower Says VA Ignored Data- Could Have Saved Lives

Whistle-blower says VA ignored data that could have helped suicidal, sick veterans | Fox News.

“The highest-level whistle-blower ever to come forward at the Department of Veterans Affairs is leveling accusations of serious ethical lapses, claiming an agency intentionally manipulated and suppressed data which resulted in veterans — particularly suicidal veterans — being denied critical care.”

Having a father who fought in Vietnam and a brother who fought in Afghanistan, I know that there are not only physical, but mental scars that remain from time spent in combat. The VA is supposed to be an organization with the highest ethical standards, whose goal is to support veterans. Apparently, the organization has some serious flaws- even to the point of trying to cover up data which showed veterans were in need of additional medical care. My guess, is that the VA is doing this to cut costs. I hope there is a full investigation and an improvement in services to our valuable veterans; particularly in the area of mental health.

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Margaret Thatcher Dies at 87

Fox News Live Video – Fox News.

Margaret Thatcher died today at age 87. Many hail her legacy as former British Prime Minister and others complain that her policy choices (especially against Unions) continues to leave a negative legacy. This video was interesting.

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Downside to Increased Life Expectancy?

Downside to increase in life expectancy? | Fox News Video.

Do you want our government to reduce its debt? Are you willing to postpone receiving Medicare? Currently, seniors receive Medicare at age 65. But what if Medicare benefits weren’t given until till age 68 or beyond? As the life expectancy increases for Americans, this is a possibility and will certainly be debated in the future. Many seniors are upset about this and groups like AARP have taken a firm stand against it. This video was interesting and informative.

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