Your parent’s lack of financial planning can have a significant impact on your own financial planning.  You assumed your parent’s would have planned financially for their retirement. It never occurred to you that they didn’t and when you think of it, you haven’t really devoted much time to planning for your own retirement. But now, your parents have run out of money. Their living expenses exceed their income and part of your paycheck goes to buy food or pay for maintaining their household.  You’re worried about their health and what will happen if they need facility care. How did this creep up on you? It’s simple. While we believe we should plan for long term care, 70% of us have other priorities that prevent us from doing so until it becomes a necessity. The horror stories exist. Parents being moved to a nursing home for the rest of their lives. Parents losing their homes because they can’t keep up with a mortgage that should have been paid off years ago. Parents writing checks to charities and psychics before paying for their own prescription drugs. Still don’t have time to plan?

Return from When Your Parents Financial Plan Doesnt Work to the Caring for my Parents Home Page

About Pamela Wilson

PAMELA D. WILSON, MS, BS/BA, NCG, CSA helps caregivers and aging adults solve caregiving problems and manage caregiving needs through online programs, live support groups, and an extensive caregiving library that includes articles, podcasts, videos, and webinars.

Sign up for Pamela's newsletter and get the latest tips, news, and advice about aging and caregiving.

P.S. Your email remains confidential and will never be sold or shared.

Family or Professional

Professional Type

Thank you for signing up! Check your email for confirmation.

Sign up for Pamela's newsletter and get the latest tips, news, and advice about aging and caregiving.

P.S. Your email remains confidential and will never be sold or shared.

Family or Professional

Professional Type

Thank you for signing up! Check your email for confirmation.

Pin It on Pinterest

Shares