By FPA member Mike Bonacorsi, CFP®
Last Updated: June 28, 2010
One of the issues confronting baby boomers as they prepare for their own aging is the care for parents who are no longer able to live a full and independent life due to physical restrictions or mental impairment.
Traditionally family members provided home care to aging parents, and when skilled services were necessary a nursing home. Now with busier families, spread out geographically and parents requiring care often reluctant to depend on their children for help, considering an alternative source of care may be necessary.
Depending on the service and level of care needed there are several options:
- Home day care can provide meals, transportation, assistance with bathing and other daily functions. Trained services by nurses and therapists are also available.
- Adult day care can benefit those who are able to get around by providing social and health services in a supervised environment.
- Continuing care communities provide different levels of care from independent living to full-time care within the same facility.
- Nursing homes provide skilled nursing care, therapy personal care and assistance.
Make sure your parents are involved in the “due diligence” process. Give them a chance to voice their opinions and pay attention to what they are saying. Remember, they are facing the difficult realization that after a lifetime of caring for themselves and others they are the ones that need care.
FPA member Mike Bonacorsi, CFP®, owns Mike Bonacorsi, LLC in Amherst, N.H.
