Thanksgiving Care, Cash and Conversation?
We hope you survived Thanksgiving, and maybe even enjoyed it? We did, thanks. If you have an aging parent, chances are that you somehow discussed your parent’s care, health and living status, and probably somehow money. Money is the dreaded conversation that our parents never seem to want to have -- it’s the huge, unattractive elephant in the room lots are avoiding. Maybe you got started at Thanksgiving and can go back for round two in December? If that is the case, plan ahead.
Unfortunately, with aging and care needs, it always seems that somehow you or your parents have to pay for everything. While lots assume that Medicare or Medicaid will step in, that just isn’t always the case. So, talking about money is something that we all are going to have to do. As with most things, sooner versus later usually proves more helpful.
While Millennials seem to be the most comfortable sharing information about salaries and the like, other generations do not follow suit. Bankrate’s The Cashlorette says that for Millennials, “about 33 percent of them have shared their salary information with their co-workers — four times more than baby boomers, of whom just 8 percent has done so.” And, if you are thinking about the Greatest Generation, forget about it, I am not sure I ever heard my grandmother or grandfather talk about money, ever.
So, here is a quick cheat sheet to help with the dreaded money conversation regarding aging and care. It isn’t comprehensive, but it is a start. You of course want to take a thoughtful and respectful approach, but think about the items below as to what answers you need.
There are lots more questions to ask, but this is a start. And, if you need more help, join Gentreo http://www.gentreo.com/contact.html and sign up for our beta.
The team at Gentreo has more than 20 years experience in the eldercare industry. From home care and hospice and private duty to aging in place, they have helped create companies that are changing how Americans care for seniors.