My Forsyth_March 2021
Sit back and read the latest edition of your community magazine. The law firm of Patterson Moore Butler introduce their partners and lawyers, while our intern Ava Clavijo shares a few thoughts about school during extraordinary times. Check out how Irrational Kindness can make a difference in your live and the importance of knowing what to do before losing self-sufficiency. Food, health, wellness, home, life and faith are a few of the topics in this issue of My Forsyth magazine. Happy reading! Stay well
Sit back and read the latest edition of your community magazine. The law firm of Patterson Moore Butler introduce their partners and lawyers, while our intern Ava Clavijo shares a few thoughts about school during extraordinary times. Check out how Irrational Kindness can make a difference in your live and the importance of knowing what to do before losing self-sufficiency. Food, health, wellness, home, life and faith are a few of the topics in this issue of My Forsyth magazine. Happy reading! Stay well
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“<br />
When you were growing up, your parents were strong and<br />
stubbornly independent. You always admired that about<br />
them. Now they are aging and need a lot more help than ever before.<br />
You are not sure how much help they will need from you and what will<br />
happen when your help is no longer enough."<br />
I realize you love your parents dearly,<br />
and you are certainly willing to support<br />
them in times of need. But each time your<br />
parents ask you for help, you probably wonder,<br />
“Who will do this for me?” It makes your heart<br />
sink thinking about your spouse or kids doing<br />
certain “dignity tasks” you never want them to do.<br />
A chunk of your heart breaks off each time you<br />
see a tiny piece of their independence fall away.<br />
When you were growing up, your parents<br />
were strong and stubbornly independent. You<br />
always admired that about them. Now they<br />
are aging and need a lot more help than ever<br />
before. You are not sure how much help they<br />
will need from you and what will happen when<br />
your help is no longer enough.<br />
I know that this is a sensitive subject, but<br />
If you have ever had to watch a loved one<br />
lose their capacity for living independently,<br />
you know how difficult it is for the whole<br />
family. Becoming impaired often starts with<br />
unexpected challenges, like the inability to<br />
stand up after using the bathroom or getting<br />
out of bed. Over time, it gets worse. All too<br />
often, struggles with normal activities of daily<br />
living are accompanied by the loss of dignity<br />
and rapid depletion of savings. You need<br />
assistance but might not want members of your<br />
family to handle more delicate tasks.<br />
Here are Four Sensitive Truths that<br />
we must all know, while we still have<br />
time to prepare.<br />
SENSITIVE TRUTH #1 – WE<br />
ARE ALL AT RISK OF LOSING<br />
OUR FUTURE INDEPENDENCE<br />
Genetics could get in the way of the life you<br />
want in your upcoming years. Preparing a<br />
roadmap now to provide necessary care later<br />
will help you feel less anxious about the risks.<br />
It also helps you navigate sensitive situations.<br />
In the 21st century, Americans can live a very<br />
long time. The average U.S. woman who is<br />
now 65 can expect to live to approximately<br />
age 86 and men on average to 83. If your<br />
relatives outlasted their peers, you, too, cold<br />
live significantly longer than average.<br />
SENSITIVE TRUTH #2 –<br />
UNFORESEEN EXPENSES<br />
In Your Later Years Could Empty Your Wallet<br />
Even with government programs such as Social<br />
Security and Medicare, the costs of living as<br />
an elder adult can come on suddenly and all<br />
at once. In fact, nearly a quarter of Medicare<br />
costs are spent in the last year of life. For<br />
example, the median cost of a nursing home<br />
is over $90,000 per year—and could be much<br />
higher depending on where you get care.<br />
SENSITIVE TRUTH #3 – LIVING<br />
INDEPENDENTLY TOMORROW<br />
REQUIRES PREPARATION<br />
TODAY<br />
Most people want to live independently for<br />
as long as possible, including staying in their<br />
home. Right now, especially if you are watching<br />
self-sufficiency slip away from a loved one, you<br />
may be worried about what will happen to you<br />
when the time comes.<br />
If you need care, who will provide it? If you<br />
have children, they are a potential resource.<br />
That is assuming that they live close enough to<br />
you and do not have to disrupt their standard of<br />
living. On the other hand, you might not want<br />
your children to change your diaper as you<br />
changed theirs. Bottom line is, knowing what<br />
you want for your later years is key in making<br />
these decisions. Designing your blueprint for<br />
eldercare now will help you make cost-effective<br />
choices you might not be able to access later.<br />
SENSITIVE TRUTH #4 –<br />
THE OPPORTUNITIES YOU<br />
HAVE TODAY MAY NOT BE<br />
AVAILABLE TOMORROW<br />
When it comes to paying for care, a number of<br />
options are available to those who are currently<br />
healthy. Bu you may not be eligible for them<br />
past a certain age. One common choice for<br />
covering costs is to self-insure or pay expenses<br />
out of pocket. The risk is that you will run<br />
out of money or hurt your spouse’s lifestyle.<br />
It is sadly common for children to receive<br />
diminished legacies or none at all, because the<br />
money was spent on the parent’s care.<br />
An alternative to that is to buy what is<br />
called an asset-based policy, typically a life<br />
insurance or annuity contract with a long term<br />
care rider. Each insurance company structures<br />
them somewhat differently depending on<br />
the state. Bottom line, you have got options,<br />
especially if you start planning early.<br />
You already know what kind of independent<br />
lifestyle you want when you age, but you may<br />
not understand how to pay for it without<br />
draining your wealth.<br />
We can help you shield your financial<br />
plan from excessive health care costs by<br />
consulting with an expert to plan your<br />
golden years. We can help you determine<br />
if you can afford to pay these expenses from<br />
your exiting assets and whether you should.<br />
We will guide you with the right questions<br />
to ask quickly so your available options do<br />
not slip away.<br />
It is up to you if you want to manage<br />
your costs in the future. Your next step<br />
is to call us today at 470-839-9001 to<br />
schedule your Self Sufficiency Session.<br />
Investment Advisory Services offered only by duly registered individuals through AE Wealth Management, LLC(AEWM). AEWM and Arseneau Advisory Group are not affiliated companies.<br />
VOLUME XI | ISSUE 1 | MYFORSYTHMAG.COM 17