7 Ways to Finance Your Parents’ Elder Care as They Get Older

The holidays can be a good time to talk with your aging parents about their finances. But it’s a delicate topic. consumer Reports explains how to help your elderly parents with their finances.

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Providing care for an elderly parent can be expensive.. At NerdWallet, we strive to help you make financial decisions with confidence.. How it works: Mom or Dad has to be your dependent for tax purposes.. We've used the historical annual market return of 7% for investments and a 2.3% interest rate for.

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Talking to your elderly parents about their finances isn’t a conversation most us want to have. It ranks right up thetr with talking about the birds and the bees with your kids. But if you think.

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Assisted living communities – if your parent isn’t able to live on their own or needs 24/7 care, assisted living and other senior housing options might be the right choice. Geriatricians (geriatric doctors) – they specialize in caring for seniors and have more experience treating people with multiple chronic health conditions , dementia , and other conditions that primarily affect older adults

Personal Finance. Taking Care of Aging Parents: The Legal and Financial Details You Need to Know. It’s essential to have a team approach to your parents’ care: It’s easier if they’re all.

 · When they think of your parent, you want everyone involved in their care to have good, positive thoughts; you want them to want to care well for your mom or dad. Steady kindness, and little gifts here and there, can go a long way toward ensuring that’s how they feel.

The most important thing, Lederer stresses, is that as our parents age, we go out of our way to maintain good relationships. "When dealing with elderly people, let your motto be, ‘Reframe, don’t blame,’" she says. A slip of the tongue can unleash a world of hurt and ill will.

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