The Time is Now: Preparing for the Costs of Aging
Did you know? The cost of care tends to increase as one ages due to a variety of factors, including the potential for declining health, increased medical needs, and a greater reliance on assistance for daily activities.
There is a prevailing misunderstanding that older adults possess significant assets and are thus prepared to cover the costs of their care needs. However, the truth is that a substantial majority, a staggering 80%, currently face financial challenges or are at risk of encountering economic instability as they age.
Listen in for insights on how to prepare for the costs of aging, including potential care expenses, funding strategies and resources.
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Tune in for insights and resources from Wendy Rickenbach-Barclay, CADDCT, CDP, CSA, CMDCP, CTCF, and Owner Of CarePatrol Gulf Coast.
Wendy has been an industry leader in the referral and placement industry as the owner of CarePatrol. She is nationally recognized as a thought leader and has most recently been dubbed by the media as an industry disrupter with an Adult Day Center concept she brought to Sarasota and surrounding communities. Additionally, she holds numerous industry designations, such as a Nationally Certified Dementia Trainer (CADDCT), a Certified Dementia Practitioner (CDP), a Certified Care Transition Fellow (CTCF), a Certified Montessori Dementia Care Professional (CMCP) and a Certified Senior Advisor (CSA)®.
She has served on the board at the Venice Yacht Club and the Sarasota County Aging Network, Chaired the Venice Chamber Senior Resource Group, and has volunteered at many local nonprofits such as Neuro Challenge Foundation for Parkinson’s, Friendship Centers, Parkinson’s Place, Alzheimer’s Association, Manatee County Aging Network and more.
- Myths about paying for care as one ages
- Potential expenses associated with aging that many may not consider
- A client story that underscores the importance of preparing for the costs of aging
- Funding strategies and options to consider to ensure older adults and the family caregivers are in the best position to meet care needs (e.g., Long-term care insurance, retirement savings, government assistance programs, and family support, etc.)
- Tips to start the conversation with older loved ones about their care wishes and paying for care
- Helpful resources for older adults and their family caregivers
- Paying for Care
- Rising Costs for Senior Adults Aging-In-Place at Home – CarePatrol
- Can I Afford Senior Living Care? Getting the Care You Need – CarePatrol
- Getting Your Affairs in Order Checklist: Documents to Prepare for the Future – National Institute on Aging
- The True Scope of Financial Insecurity in Retirement – National Council on Aging