"Carroll weaves her vast experience in long term care insurance and personal insights into the MUST-READ book! It is jam-packed with helpful information families and professionals need to know in order to make informed decisions about aging planning."—Annalee Kruger, President of Care Right Inc., and author of The Invisible Patient: The Emotional, Financial, and Physical Toll on Family Caregivers
Who’s going to be the physical, emotional, and financial caregiver in your family (no matter how you define family)? Few of us understand or are prepared for the breadth of lifestyle implications that come with that role. On the flip side, what if it’s you that needs care?
Meet the Jones family, a multigenerational example of how it all works in the real world. Follow Jodi and her family as they suddenly must deal with her parent’s extended care needs. Tension, guilt, and a lack of information start to impact Jodi’s health, happiness, job and family, relationships. Follow along as this multigenerational family uses my three-step process to create a Care Guide, a Care Squad, and a Care Planning Team. Learn how to establish a framework to start and continue conversations, minimize tension, and gain an overview of several planning options to fit almost any budget so you’re ready for tomorrow.
Carroll S. Golden, CLU, ChFC, LTCP, CASL, FLMI, CLTC, LACP has devoted over two decades to the field of extended and long term care planning and is the Executive Director of NAIFALimited and Extended Care Planning Center. Executive positions with both advisor/agent distribution firms and corporate insurance carriers, interviews and client exchanges on radio and television, interactive virtual meetings, leadership roles at industry conferences and personal experience broadened her knowledge. Carroll’s passion to protect individuals and multigenerational families from psychological, health, and financial havoc resulted in her book, How Not To Tear Your Family Apart , a 3-Step resource for expanding consumers’ and professionals’ knowledge about the many different options available to help create a financially stable future for aging parents and friends.
Fidelity's most recent Couples & Money Study found that 48% of couples disagree on the age they plan to retire, and that 2 of the most common ways people say they want to spend their retirement years—relaxing at home and traveling—are at odds with one another.
The study also pointed out that couples who treat planning like a team sport are more likely to feel confident about their plan and more likely to agree on some of the hot-button issues.
Be inclusive. Remember to include plans for funding extended care so it doesn't blow up your retirement plans or leave one spouse/partner without a agreed upon lifestyle.
Don't leave anything—or anyone—out of your imagined future.
How Not To Pull Your Family Apart
Jackson and Jodi were struggling with envisioning their individual future selves. They found answering this list of questions helpful, enlightening, and fun!
Do you have a retirement date in mind?
If applicable, do you think your spouse/partner has the same date in mind?
Will you want to travel? Do you have a budget in mind for travel and excursions?
Will you want to entertain? Do you have a location and budget in mind?
Do you expect to do volunteer work?
How do you envision your health progressing during the aging process? Anything in particular that could curtail activities?
Do you expect to remain in your current home and age in place, or downsize, or change location?
Do you expect to live independently if your spouse/partner/companion predeceases you?
Do you feel you can fund the lifestyle you envision?
Do you feel you can fund limited, extended, or long-term care if needed?
Do you worry about becoming a burden to others as you age?
Have you completed the necessary documents and medical directives so others know your wishes?
Do you want to leave a legacy behind? What does that entail?
Do you know a story about someone who needed extended or long-term care? What would you modify if you were the one needing care? What would you modify if you were the caregiver?