Nowadays, many individuals are part of the ‘sandwich generation,’, where they must simultaneously care for their aging parents and young children.
While saving, budgeting, and other planning principles may be similar, the dynamics and emotions associated with caring for elderly parents differ. Planning beforehand might help simplify the process for children of aging parents who are frequently in charge of senior family members’ care choices.
Decision-making becomes more stressful when left until an emergency, so consider your loved one’s alternatives now. With a wide range of programs to aid families in adjusting to this new stage of life, RPHC delivers loving, compassionate hospice care.
How to Plan For Your Parents
Organizing a Family Gathering
Making such important life decisions requires discussing elder and end-of-life care with your parents. Identifying the needs and goals of the elderly parent should be the main topic of a family discussion regarding senior care. Ask questions and pay attention to your parents wants to assist you in deciding what matters are most crucial.
Accounting for the Cost of Parental Care
It’s crucial to comprehend the cost of parental care and the available funding choices, just as you would with your retirement and daycare cost planning. What tools are at your disposal to take care of your parents?
Do you have any investment assets that are liquid or easily accessible, retirement savings, or a long-term care insurance policy in place? Knowing where each financing source comes from and how much money it can provide is crucial since not all assets are equal in timing or eligibility for government benefits.
Organizing Senior Care and Housing
Your parents’ capacity to perform daily chores may deteriorate as they age. With your parents, go through alternative housing possibilities and be honest about the level of care you can give.
A nursing home or care facility could be a choice for parents who require more help than an in-home carer can offer. Elders who require help with daily tasks but still wish to live where they may socialize with other elders have an alternative to assisted living facilities.
The Takeaway!
If you or your parents choose palliative hospice care, you can depend on RPHC to ensure a comfortable and efficient service experience.