The Later in Life Planning Show
by Patrick Cawley
The Middle Class faces specific threats in the later years of life. Long-term care expenses will attack and consume your savings. Know your threats and build a shield.
Podcast episodes
Season 1
Bringing the World to the Homebound
You may have a parent or a neighbor who has been sidelined by a stroke, a fall, or a surgery. You know that person has travelled the world, read lots of books, or has a passion for music. Now what? Our library system has evolved to provide much more than books. They offer classes and music and movies and direction to resources. What happens when a person who wants to experience the world can no longer leave his or her house? Across the country, there are programs to bring the library's resources to the homebound person. The reasons for this are important. A person's physical health depends on their mental well-being. Isolation is a public health hazard. Bringing books, music, and movies to that person will improve the person's outlook on life. In this episode, we hear from Christa Bassett and Sandi Koehler from the Cumberland County Library System. They bring not only the stories and music of the world to homebound people, but it's done in a way that includes companionship. This program not only improves the lives of homebound older adults. It provides purpose and meaning to the volunteers.
Decisions You Make. Decisions Made for You.
Certain decisions get made for you. How much control do you want over your life? If you know who you want to receive property from you when you pass away, you could make a choice and draft a will. If there are potential challenges that stand between you and achieving that goal, you can make different planning choices, probably involving a trust. People are walking around without making these choices for themselves. So the government makes decisions for them. Even for those who make decisions for themselves, the government still makes decisions that affect your future. A state budget was just passed that makes decisions about the resources that will be available if your health fails. Bottom line: know the system you are aging into, and know what decisions you can make for your family's circumstances.
Aging is a Legal Puzzle
When a former colleague called me from her nursing home bed, it was out of the blue. We hadn't spoken in years. The conversation covered a maze of legal issues. Here was a smart person being pressured by a non-attorney "Medicaid company" to sign an agreement for Medicaid planning. The Medicaid planning seemed to overlook important issues like my colleague's real estate and her goals for her estate. There are nursing facilities that partner with these "Medicaid companies" or directly tell residents that the residents do not need to hire an attorney. My colleague, and many like her, needed an attorney. Other aging adults need an advocate. What if a relative is using the power of attorney to steal money from your loved one? Should the relative with the power of attorney inherit any money when your loved one dies? If our long-term care system leaves you with no income and no money in savings, what should be the amount you get to keep for personal needs? These are legal issues that our state legislature has considered, but not resolved. Getting older is a walk through a legal maze while wearing a blindfold. Only a guide who knows that maze from beginning to end will be able to get you through it.
Dementia is Not an Insult
The 2024 Presidential debate and the commentary that followed was discouraging for many reasons. One of the more disturbing aspects of the experience was how casually and heartlessly people lobbed the words "dementia" and "elder abuse" as insults at political opponents. A person living with dementia is undergoing brain changes. Skills are lost, but their humanity is not. When famous people have experienced dementia in the past, a more productive and educational conversation followed. That's what this episode is all about: knowing more about the experience of dementia and how to support a person whose brain is changing. Dementia is simply brain change; it is not an insult.
Family Caregiving While Working
When a co-worker announces that she will be taking maternity leave, there's a celebration. Of course her job is safe and there's a plan to cover for her while she's out. What happens when your Dad has a stroke and needs you for support and care? Employees are choosing in record numbers to retire early, pass up promotions, or find part-time work so that they can care for aging parents or spouses. Others cannot afford to stop working, so they burn the candle at both ends while juggling work and caregiving. While unpaid leave may be available at large companies, employers will have to get more creative with accommodating family caregiving responsibilities if they want to retain talent. This changing need of the workforce is growing against the backdrop of care facilities under great strain. This episode focuses on those who are still working while caring for an older family member.