Professionals Who Care’s Post

Aging in place is increasingly challenging for older generations, as highlighted by HousingWire’s recent article. With rising healthcare costs, accessibility issues, and limited caregiver resources, many seniors face obstacles to staying in their homes. This creates a financial and emotional burden on families. SupportPay can help alleviate some of this stress by simplifying the management of shared caregiving expenses, ensuring transparency, and reducing conflicts. By streamlining financial responsibilities, SupportPay supports families in focusing on what matters most—caring for their loved ones. #caregiving #financialwellbeing #familysupport https://lnkd.in/gJVJFEJ5

Are you part of the Sandwich Generation? These are individuals simultaneously caring for and supporting their kids and parents. Competing priorities have often left this generation struggling with work, financial, health, family, and time pressures. There are no easy solutions when you’re in this situation but you can take some steps to try to relieve the strain. Read my latest blog post for tips that I hope will help you. https://buff.ly/3Bo0U4T #aging #caregiving #caregivers longtermcare

Striking a balance between all those unpaid hours of care while saving for your own future won’t be easy. As Canada’s population ages, best be prepared, experts say. Click here to learn more… #igwealthmanagement #unpaid #future #planning #wealthmanagement #wealth #oldageplanning #caregivers #costs #vannoort #pauljarvie https://ow.ly/3v7T50QGwy5

We would be remiss if we do not bring up the Caregivers when talking about bringing awareness to #longtermcare. This article points out that caregiving is a $600 Billion dollar dilemma. We have the responsibility to help alleviate some of the issues and concerns since we are the Industry with the purse strings.   We have a massive problem on the horizon. Well, it's already here but for some reason we cannot see the forest for the trees. There's currently a huge shortage of medical staff and care workers in this country. We have a population that says that 95% of them want to remain in their own homes to receive care. This sounds like a recipe for a "supply and demand" problem that will make it even harder for your clients' families to keep their promise without being heavily involved.   Let's start with Short-Term Care needs after a stay in the hospital. Many families are caught between a rock and a hard place, even for the recovery after an accident or illness. Loved ones tend to hide health issues until they can't hide them anymore. They also tend to shy away from asking for help. I've been told on many occasions it's easier to ask a friend than a family member. Unfortunately, when your clients need care their friends have health issues or they're gone.   Next, we must point out that these short-term care needs may turn into extended care needs. As I was reminded earlier, 1 in 5 will be back in the hospital in the next 30 days. Is this from complications or lack of family support? Who will be your clients' Healthcare Advocate?   If you want the best care for your clients, then we must plan for their healthcare, extended care and caregivers. Family caregivers hate asking for money when their heart is in the right place. This is why your clients need to have a Letter of Instruction in place.   This letter will spell out their desires if they need extended care as well as how family members are paid for their participation or reimbursed for expenses. This can be done during a care event or from their Estate before it's split between heirs. (Note: Their family may have to use a contractual Personal Service Agreement.)   No parent wants to leave the legacy of their children never talking to each other ever again: a caregiving event brings out a lot of emotions or it could make one feel slighted, if they provided most of the care.   Ways to take care of Caregiver:   - Be able to pay for professional and family caregivers at same time. - Pay family members for their time. - Put LTC plans in place for them.* *This is pre-payment for care or part of inheritance.   These are just a few suggestions. The best way to help both your clients and their caregivers is to make sure that their plan matches up with their desires. You cannot do this blindly nor can you leave it to Cash Flow. Long-Term Care planning is an outside Cash Flow problem that needs an outside Cash Flow solution. Let #legacycarepro help you take better care of your clients. ~ Barclay

💡 Smart Saving Tips for Multigenerational Caregivers 💡 Navigating the responsibilities of caring for multiple generations can be both rewarding and challenging. Thankfully, Miami Times has shared some valuable tips to help multigenerational caregivers manage their finances more effectively. Key strategies include: 🔹 Creating a detailed budget to track expenses and identify potential savings. 🔹 Exploring government assistance programs designed for multigenerational households. 🔹 Utilizing tax benefits and credits available to caregivers. 🔹 Cutting costs through group purchases and shared resources within the household. Managing the financial aspects of caregiving doesn't have to be overwhelming. By implementing these strategic tips, caregivers can ensure better financial stability and peace of mind, allowing them to focus on providing the best care for their loved ones. Check out the full article for more insights: https://lnkd.in/gjZyGFY9 #Caregiving #PersonalFinance #FamilyCare #MultigenerationalHousehold #FinancialTips #ResourcefulLiving

What is AI’s superpower for family caregivers? I recently caught this podcast by UC Davis researcher and Assistant Professor of Gerontology, Francesca Falzarano, PhD. Like so many of us working in the caregiving space, she was also a family caregiver. Her research is bearing out what she experienced firsthand: family caregivers aren’t getting the tailored support they need for their unique situations. There are many resources and services available to family caregivers. But they have to dig up then sift through a multitude of offerings that aren’t relevant to them before they find something that is. So Falzarano asks, “Why are we not using technology to give more tailored, targeted, and precise support to caregivers?” Beyond day-to-day care tasks, family caregivers may also have to manage their loved one’s finances, navigate Medicare or Medicaid, and coordinate healthcare. Falzarano’s team is currently developing an AI tool that takes in data about a care recipient and refers the caregiver to the most impactful support and services. We can also use AI to determine the best financial solutions for family caregivers throughout their caregiving journey. We know they’re spending an average of $7,200/year on care costs. And 40% of family caregivers leave their jobs to provide that care, losing hundreds of thousands of dollars of income and social security benefits, which will impact their own retirement. With the right inputs, AI can predict what an individual’s caregiving journey is likely to cost them, and where they can lower costs or find compensation. It can help family caregivers prepare and plan for care expenses in advance, and maximize the resources their loved ones do have—Medicare, Medicaid, VA, LTCI, FMLA, etc. It can also help them strategize for their own future care. Valuable resources for family caregivers exist, but siloed. One of AI’s superpowers for this population (53 million and growing) is its ability to aggregate existing solutions—as well as innovative new ones—and guide the caregiver through a personalized portfolio of resources, actions for care and compensation, and relevant savings. With the last of our baby boomers nearing retirement age, and their adult children facing nest egg-breaking care costs, this technology is a tool that #RubyWell leverages for our caregivers, and we believe is critical to simplifying the caregiving journey for all. The applications for this buzzy, "must have" tech may be invisible to the user but are instrumental in creating a personalized, simplified path.

Striking a balance between all those unpaid hours of care while saving for your own future won’t be easy. As Canada’s population ages, best be prepared, experts say. Click here to learn more… #igwealthmanagement #unpaid #future #planning #wealthmanagement #wealth #oldageplanning #caregivers #costs #vannoort #pauljarvie https://ow.ly/3v7T50QGwy5

On Giving Tuesday, please give to the family caregiver in your life. It's as easy as writing a check. Individuals can give a tax-free gift of up to $18,000 to a friend, family member or stranger in 2024. When you give, the family caregiver receives the resources to solve a problem, to take care of a worry, to take a break to spend time with who and what they love. Family caregivers do so much with whatever they have. You can lighten some of the load they carry when you take a minute to write a check. $500 Makes a Difference If you give $500 to a family caregiver, the money can buy: --Respite care so the family caregiver can take one night off.  --16 hours of help from a home care agency so the family caregiver can get a breather. $1,000 Buys a Bigger Difference If you give $1,000 to a family caregiver, money can buy: --A rented wheelchair accessible van so the caree can visit family for the holidays. --A service dog for a caree. --A hospital bed. $5,000 Brings Enormous Relief If you give $5,000 to a family caregiver, the money can buy: --An accessible bathroom by turning the tub into standing shower. --A bucket list trip for the family caregiver and caree. --Zero balances on credit cards, which means debt from caregiving expenses is eliminated. Your Gift Gives the Gift of an Easier Day Family caregivers share what your gift means to them: "It would change my day because a lot of things would be covered with the gift." "It would improve quality of life." "The bathroom doorframe is too small for my son's 22" wheelchair to fit thru. I have to ask family members for help (sometimes no one shows) to carry his trunk while I carry his legs to get him into the shower chair. Makes me feel like a terrible mother/caregiver. If he has a wound, not having bath accessibility makes it worse. I'm not asking for a handicapped accessible bathroom stall. I would certainly widen my bathroom doorframe to at least 24" to 25" rather than 18”." It's easy to find a family caregiver deserving of your generosity. Simply ask your network for recommendations of family caregivers they know who need some hope. Thank you for the gift you give! #givingtuesday #caregiving #support

In a world where love often translates into sacrifice, unpaid caregivers stand as silent warriors, juggling the demanding responsibilities of caring for loved ones while facing significant financial burdens. 💔 The toll of caregiving goes beyond emotional strain—it manifests in cutbacks on work hours, lost wages, and diminished contributions to retirement accounts. 📉 Many caregivers find themselves in a precarious position, forced to reduce their hours or even leave their jobs entirely, all while navigating the challenges of helping to pay bills for those they care for. 🏠💰 This often-overlooked aspect of caregiving can lead to financial instability, creating a ripple effect that impacts not just the caregiver but their families as well. The pressure to balance work and caregiving duties can lead to burnout, decreased job performance, and ultimately, job loss. 😔 The irony is that while caregivers are tirelessly providing essential support, they may find themselves compromising their own financial futures. Retirement savings dwindle, and opportunities for career advancement fade, leaving them vulnerable in the long run. ⚠️ It’s crucial to recognize the immense contributions of caregivers, both emotionally and financially, and to advocate for policies that support their needs. From flexible work arrangements to financial assistance programs, we can create a system that acknowledges their sacrifices and helps ease their burdens. 🌟 To all the caregivers out there: your efforts do not go unnoticed. You are the backbone of countless families and communities. Let’s work together to raise awareness about these challenges and push for change that recognizes the vital role you play in our society. Your sacrifices matter, and you deserve support and recognition. 🙌💖 📞 Contact us at 610-235-1041 or 📩 Contact us via email at bcroyle@agingconfident.com #Caregivers #SupportCaregivers #FinancialHealth #UnpaidCaregiving #AdvocateForChange #YouMatter #Agingconfident

Discover how managing the demands of caregiving can impact both your finances and time. Kittye Tilford, CFP®, Wealth Advisor shares valuable insights and strategies to navigate these challenges effectively in, "The Role of Planning for Those in the Sandwich Generation." #sandwichgeneration #caregiving #eldercare #family #financialplanning #herwealth #womenandwealth