Page 6 - WSAAG051_Caregiver Booklet

4 Steps on the Path Forward

Having meaningful health care services in place is an essential part of retirement planning.
The key is to plan far enough ahead, so a challenge that can be easily managed now won’t
turn into a crisis later. As a caregiver, follow these four steps:

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Have a Caring Discuss Finances Anticipate Health
Conversation Once you have an understand- Care Needs

Discussing an aging parent or loved ing of their desires and wishes, It’s critical that any discussion
one’s future needs and wishes can discuss whether sufficient about finances also anticipates
be a sensitive subject, but it’s vitally resources exist to pay for future health care needs. Discuss
important that the conversation them. Have they saved enough, how a reverse mortgage line of
take place. To get things started, try or will they need to supplement credit could serve as a safety net
asking open-ended questions, such their income? Are they aware in the event of long-term medical
as, “Did you ever think where you of home equity options such needs. With a reverse mortgage
would live if this place became too as reverse mortgages, which line of credit, the homeowner pays
much for you?” Sometimes what were specifically designed interest only on the loan amount
isn’t expressed can be as telling as for older adults seeking a accessed, and the untapped,
what is communicated, so be a good better retirement? available portion of the line grows
listener and observer and always each year.
show respect. The goal in your initial
talk is to start a conversation.

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