TAKING CARE OF MOM AND DAD

Rust, Mike

ISBN 10: 1563437406 / ISBN 13: 9781563437403

Published by Silver Lake Publishing, 2015

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Bibliographic Details

• Title: TAKING CARE OF MOM AND DAD
• Publisher: Silver Lake Publishing
• Publication Date: 2015
• Language: English
• ISBN 10: 1563437406
• ISBN 13: 9781563437403
• Binding: Soft cover
• Condition: New

About this title

Synopsis

Caring for aging parents--from establishing power of attorney to investing wisely for catastrophic medical care to the impact of role reversal--is going to be a grim reality for many Americans. The statistics are scary: Two out of every three people under 40 in the year 2000 will have to either assist or maintain an elderly parent's lifestyle during that parent's life. The old model of relying on pensions or Social Security doesn't work anymore in the New Economy. This means that the assumptions at the base of the average American's financial planning no longer apply. Sons and daughters caught in the ÒsandwichÓ generationÑbetween needy children and frail parentsÑknow that this surprising social change can be a crippling financial burden. People in early middle-age now need to take a more aggressive role in the financial life of their mothers and fathers, and then cope with the difficulty of switching traditional roles with their parents. With an actuary's eye for detail and a caring son's attention to nuance, the author guides the reader through the financial, bureaucratic and sociological thickets to a clear understanding of what it takes to actually take care of mom and Dad!

About the Author

Mike Rust is a pension actuary who consults with employers on the design and administration of retirement plans. Graduated from the University of Wisconsin in 1988, Rust is an associate of the Society of Actuaries. He lives in North Carolina.