Tammy DiBlasi’s Post

This is a discussion of how to get on the same page as a family and prepare for the financial impacts of aging parents.

This is a discussion of how to get on the same page as a family and prepare for the financial impacts of aging parents.

Caring for aging parents involves more than just providing physical support; it’s also about ensuring their financial well-being. This responsibility can be challenging as it involves addressing sensitive topics and making important decisions that affect your parents’ quality of life. As our parents age and live longer, children often need to become more involved in managing their financial affairs to protect them, ensure everything is up to date, and help them care for themselves effectively. In this Amida Wealth blog post, we explore essential strategies and insights to support the financial needs of aging parents.: https://lnkd.in/dZvDQuiZ

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! What I tell people is to prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments!

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! What I tell people is to prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments!

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! What I tell people is to prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments!

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! What I tell people is to prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments!

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! What I tell people is to prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments!

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! What I tell people is to prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments!

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! What I tell people is to prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments!