A baby boomer caring for elderly parents is a study for successful aging for the baby boomer. Recent surveys have found that 40 percent of baby boomers have at least one aging parent they are providing care for them. The study goes on to reveal that the remaining 60 percent are concerned about providing care for their aging parents in the future.
As we are living longer and healthier lives, our parents are too. Many are now faced with caring for their own growing family and their aging parents. Baby boomers should see this as having the ability to learn about aging and plan for their own future.
Baby boomers have made it loud and clear that they want to successfully age in place. They want to live out their lives independent, in the comfort of their community and home.
As a baby boomer caring for elderly parents, it is important to learn what to do and what not to do for successful aging in place. Many are getting first hand experience, as they are actively caring for elderly parents at home.
Successful aging in place requires preparation and planning. The baby boomer should come to understand the importance of planning ahead. Many will be faced with assisting their aging parents with getting organized and getting the proper legal, financial and advanced directive paperwork in order.
It is important to designate a health care and a financial power of attorney. An advanced directive is a written document that honors your wishes regarding healthcare treatment when you are no longer able to express your wishes to your family or health care provider. Anyone over the age of 18 years old should have an advanced directive, yet many never take the time or feel comfortable discussing these matters until a crisis occurs.
It is also important to organize the legal paperwork and get it in order. Developing wills and protecting assets is important to many families. Consider speaking with an elder care law attorney to learn the options that are available to you and your parents. An elder care law attorney can assist you with Medicare and Medicaid regulations as well as asset management planning.
As the aging baby boomer encourages and tries to assist their parent to prepare, they should consider doing this for themselves. Preparing and planning for the future cannot start early enough.
Successful aging in place also means having a home environment that is safe, comfortable and accessible. Making changes to the present home environment to accommodate our future needs can be done over time. Having a home that is not accessible or accommodating to our changing needs will prevent successful aging in place. Many boomers are already experiencing this situation with their own aging parents.
Successful aging requires planning for how to pay for future care. The cost of health care is on the rise and many aging seniors are on a fixed budget. Having a long term care policy with home health care included is a positive. Many are finding that they did not take out a cost of living rider and are now unable to afford the home health care to meet their present needs.
The reverse mortgage has been found to be an alternative to financing home health care and home modifications to allow the aging parent to remain in their home.
A baby boomer caring for elderly parents should take heed and investigate the financial options available to them to begin to plan for their own future health care needs.
Successful aging in place is being aware of the resources available to them to assist their parents. There is advanced technology, such as medication reminder systems, personal emergency response systems and brain fitness programs to keep senior drivers fit for driving to name a few. Yet, even though these products are available, and many are open to using anything that would assist them to remain at home, the majority of baby boomers have not even taken the time to investigate the products available to them. Taking advantage of this available and advanced technology now will only make the future "new and improved versions" available for the aging baby boomer.
A baby boomer caring for elderly parents should take the opportunity to learn and prepare and plan for their own successful aging in place.
