How Not To Tear Your Family Apart

For most families, it takes a scary, sad, or upsetting experience to push everyone into action. By then, unfortunately, it’s often too late to avoid some of the worst consequences of the family’s delayed action. That’s why it is so important to stay ahead of the curve. Without a plan, your family risks the following:

• Negative impacts on family members’ lifestyles. What if a parent must move in with you or if you must move in with a parent in need of care?
• Diminished Social Security benefits and investment savings as the family caregiver devotes time to caregiving instead of earning income.
• Depletion of retirement savings.
• Delays in education funding for younger generations.
• On-the-job stress or employment absences due to caregiving requirements and emergencies.
• Decreased cash flow, leading to limited care options.
• Diminished assets values resulting from a fire sale situation.
• Compelled asset liquidation when the market timing isn’t good, resulting in unwanted taxation.
• Limited potential future investment growth due to diminished invested funds.
• Retirees and pre-retirees unable to preserve the money they have worked so hard to save for their legacy.
• Feeling guilty because you didn’t have the conversation with your parents or spouse, and their choices are now less attractive or not possible because of poor or no planning.

You want a funded plan in place as early as possible so that you are in control of the type of care, the care setting, and the care services you want for your future self or the older members of your family. You also want these choices without breaking the bank.