On Episode 4 of All Things Aging, we explore financial caregiving. Many of us don’t consider needing or providing financial support as we age. We often consider needing physical or emotional care, but financial support is a significant need linked with aging.
Aging Outreach Services’ CEO and President Amy Natt explains what financial caregiving is, what it entails and how it can be helpful for many of us as we age.
Here are some of the questions Natt will explain so we better understand the role of financial caregiving in aging:
- How is financial caregiving defined?
- What are the changes in the aging population in the past few years or decades?
- How are these changes affected finances?
- What are the key responsibilities in financial caregiving?
- Who might need financial caregiving? What are some of the reasons someone would reach out for help?
- What are some examples of situations in which financial support would be necessary or helpful?
- What is the difference between types of financial caregivers, such as formal vs. informal?
- What are examples of professionals who can help with financial support?
- Are there certain times of year or situations in which financial caregiving would be helpful?
- Who is a good choice for financial support? What are some options including family members, professionals, etc.?
- What is a durable power of attorney and why is this relevant to financial caregiving?
- How can a care manager be helpful with financial support?
- Are there limits to what a financial caregiver can do? Is it an “all or nothing” situation or are there limits you have control over?
- What are some of the specific tasks a financial caregiver would provide or complete?
We all need support as we age, and many of us will provide support for loved ones in the role of caregiving. Financial support is a key element to ensure healthy, adaptive and independent aging. Having the conversation with a loved one can be challenging, and Natt’s expertise and insight can help us identify if financial support is necessary and how to begin this talk.
To learn more about financial caregiving, log on and tune in to All Things Aging’s episode. Let us know if you have any questions and, as always, feel free to leave comments!