Food for thought

Plan with Your Parents in Mind

By November 17, 2017 No Comments

As 2017 comes to a close, many of us are taking stock of the year and making plans for the next one. For me, I am in the midst of 3-5 year plan. A few years ago, my husband and I noticed that as our parents neared retirement, we wanted to be more available for them. Thus started a series of conversations.

Senior editors Eileen Ambrose and Sandra Block discuss similar conversations in the November 2017 issue of Kiplinger’s Personal Finance under the headline “How to Provide Financial Help to Aging Parents.” In this case, financial help means providing assistance with financial management, not providing monetary support. It is a thorough article I highly recommend to adult children, those about to retire, and retirees. Several examples are made in the article that highlight the importance of communicating before assistance is required. It also mentions resources available for those who are not in a position to provide or receive help from family members. I will be keeping a copy to reference as my husband and I continue conversations with our family.