Solutions for the Caregiver Crisis

Caregiving Crisis? Get Organized on Aging Plans with Narrin Schwartz

Feeling overwhelmed by caregiving responsibilities? With kids living all over the country, how can you possibly manage mom and dad's needs while juggling your own family and career? How will you handle medical crises or daily tasks if they can no longer live independently? As caregiving falls more to family, it's easy to feel overwhelmed and alone. Luckily, there are solutions.

 

Narrin Schwartz is the go-to solution for busy families. As owner of 25th Concierge Service in NJ, he helps aging loved ones maintain independence by managing daily tasks. His robust network of vetted providers allows quick handling of any non-medical need. On this episode, Annalee and Narrin discuss aging planning and caregiving services for seniors, including concierge services to help families manage tasks and appointments for aging loved ones to reduce stress and worry. Stay tuned!

 

Quotes:

• "Clients expect your service. So I take it to another level, going above and beyond.”
• "I've spent years developing relationships so that when I refer someone to my referral partner, they know to pick up the phone because it is really, really, really important.”
• "I help put time back into one's life, which is purely priceless."

 

Takeaways:

• Develop a customized aging plan for your parents now before a crisis happens. Consider your family's goals and your parents' needs and preferences.
• Research senior care services in your area like concierge programs, care managers, and home health agencies to create a support team.
• Calculate your current caregiving time commitment and costs. How much is your time worth? Consider professional help to save money and reduce stress long-term.
• Ask yourself tough questions - is your current situation sustainable? How will medical crises or changes in your parents' health be handled from a distance?

 

Conclusion:

Aging planning and caregiving services offer crucial support for seniors and their families, easing the burden of managing tasks and appointments. With concierge services tailored to their needs, families can reduce stress and worry while ensuring their aging loved ones receive the care and assistance they deserve.

 

Resources:

Annalee’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

 

Guest Links:

Narrin's Website

Narrin's LinkedIn

Enhancing Quality of Life through Care Advocacy with Patient Care Advocate Marianna Felice

Navigating the long-term care system can be like going through a maze, full of potential dead ends and paths to safety. For many families, this is exactly what journeying through the long-term care system feels like. Ensuring a loved one receives the right care can be overwhelming. Patient advocacy plays a crucial role here, serving as a guide through the healthcare complexities.

 

Marianna is the Lead Advocate for CareRight, Inc. Her role goes beyond mere oversight; she becomes a trusted confidant and a steadfast supporter for her clients. Visiting them regularly, she ensures that their needs are met, and any issues are promptly addressed. In this episode, Marianna and Anna address the challenges in care communities, the importance of patient advocacy, and the systemic issues within the healthcare system.

 

Quotes:

• "Many times, I've been asked if I'm a family member because of the bond I develop with my clients." – Marianna Felice
• "You don't have to be a nurse to know when something's wrong; advocates play a key role in identifying and addressing these issues." – Annalee Kruger
• "It's a fight to get quality care sometimes, and having an advocate ensures that residents' needs are continuously addressed." – Annalee Kruger

 

Takeaways:

• Regular, bi-weekly visits by patient advocates are crucial in identifying and addressing care issues that may be overlooked by facility staff.
• Staff shortages and high turnover rates in care communities often lead to compromised care, making the role of advocates even more essential.
• Advocates provide a critical oversight function, ensuring that medical issues are promptly and correctly addressed, thereby improving residents' quality of life.
• Family members of residents can benefit from the support of patient advocates, who can attend care conferences and follow up on necessary actions, relieving families of constant worry.
• The presence of a dedicated advocate can significantly enhance the care experience for residents, ensuring they are treated with dignity and respect.

 

Conclusion:

Patient advocates play a crucial role in improving life quality for long-term care residents. They do this through consistent visits, thorough supervision, and empathetic care, filling in the gaps of a frequently imperfect healthcare system. Families are urged to actively advocate for their relatives, making sure they get the necessary attention and care. The combined efforts of advocates and healthcare professionals are key in handling the difficulties within care communities.

 

Resources:

Annalee’s LinkedIn

Care Right Inc. Website

Website Episode

Learn more about The Elder Planning Specialist designation and certification program at Plan for Life Now

Guest Links:

Marianna's LinkedIn

Marianna's Website

Expert Guidance on Long-Term Care Insurance with Marc Glickman from Buddy Insurance

As we travel this journey called life, getting older is just part of the ride. But, let's face it, a lot of us are pretty good at putting off planning for the future - especially when it comes to stuff like long term care. Here's the thing though, not thinking about it can land us, and our loved ones, in a bit of a pickle. Imagine suddenly needing a lot of care, or finding out a family member does, only to discover there's no plan in place. The costs, from the wallet to the heart, can really stack up.

 

Marc Glickman is a speaker, author, influencer on LTC insurance, and the CEO and Co-founder of BuddyIns. BuddyIns offer flexibility and portability of long-term care insurance policies and options for finding vetted long-term care insurance agents through Buddy Insurance's website and referral network. In this episode, Marc and Annalee address the importance of early long-term care planning, the financial and emotional challenges of caregiving, and the need for clear family communication regarding insurance policies.

 

Quotes:

• "It takes a village to take care of a loved one. Having a financial and emotional process in place is crucial." – Marc Glickman
• "Half of the battle is getting your plan in place. It's not just about buying an insurance product, it's about having a comprehensive strategy." – Marc Glickman
• "Educating families about long-term care policies is essential to prevent the financial burden of caregiving." – Annalee Kruger

 

Takeaways:

• Start planning for long-term care as early as possible to secure better coverage and lower costs.
• Involve family members in discussions about long-term care plans and insurance policies to ensure everyone is informed and prepared.
• Understand the triggers and benefits of your long-term care insurance policy to avoid common pitfalls such as lapses and denied claims.
• Utilize the expertise of long-term care specialists and financial planners to navigate the complexities of long-term care insurance.
• Leverage the flexibility of long-term care insurance policies to supplement caregiving support and reduce the burden on family members.

Conclusion:

Planning for long-term care is a wonderful way to make sure our aging loved ones are taken care of. It's also a great help in easing the financial and emotional load on families. By getting to know the details of long-term care insurance policies and involving the whole family in the planning process, we can tackle the challenges of caregiving together, in a much more effective way.

 

Resources:

Annalee’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

 

Guest Links:

Marc's LinkedIn

Marc's Website

Estimate Client Capacity and Optimize Your Schedule with David Leo

Are you a financial advisor struggling to balance deep client care with business growth? Do your clients' complex family situations and aging concerns fall through the cracks due to lack of time and specialization? Balancing deep client care with business growth can indeed be challenging for financial advisors. The key is to leverage technology for efficiency, allowing more time for personalized client interactions. Streamlining routine tasks and focusing on building strong relationships can also help maintain high-quality client care while still driving growth.

David Leo is a renowned practice management coach for financial advisors. With over 20 years of experience consulting for top firms like IBM, Paine Webber, and UBS, David uniquely helps advisors optimize their businesses and maximize client outcomes. On this episode, Annalee and David discuss strategies that financial advisors can use to optimize their practices, deepen client care, incorporate elder planning services, and grow their businesses successfully over time through structured processes, business development techniques, and continuous learning. Stay tuned!

Quotes:

• "To be a successful financial adviser, it's about caring for and about your clients and their families, as well as having technical competence.”
• "The real curiosity is something I enjoy: learning about people and discovering what drives them.”
• "There's nothing worse than trying to put ten pounds of stuff in a five-pound suitcase. It just can't be done. You need a bigger suitcase."

Takeaways:

• Develop a visual model or "show and tell" of your services to uncover clients' full range of needs during discovery meetings. Use this to differentiate yourself and build stronger relationships.
• Analyze your current client roster and estimate the time spent with each client to create an ideal service model. Use this to optimize your schedule and determine your capacity.
• Block out dedicated time each day for client meetings, business development activities, and other key tasks.
• Protect this time to maximize productivity.
• Consider specializing in an underserved niche like elder planning to distinguish your practice and attract new clients. Stay on top of issues affecting aging populations.

Conclusion:

Financial advisors can grow their businesses by building strong client relationships, offering tailored advice, and staying updated on market trends. By prioritizing client needs, continuously improving their knowledge, and utilizing effective marketing strategies, advisors can achieve lasting success and client trust.

Resources:

Anna’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

Guest Links:

David's Calendly
David's Email: david@coachdavidleo.com

Financial Strategies for Long-Term Care and Insurance Benefits with New York Life Representative Christopher Nolan

Long-term care insurance is something that many families need to consider. Financial assistance is available for individuals who require help with daily tasks due to a long-term illness, disability, or age. This insurance helps cover the cost of care provided in various settings, such as at home, in an assisted living facility, or a nursing home. Contrary to popular belief, Medicare or Medicaid does not cover all long-term care needs. If families fail to plan ahead, they may face financial and emotional difficulties when a loved one requires long-term care.

 

Christopher Nolan is a representative for New York Life and a lifelong resident of New Jersey. He is married and the father of three children. Nolan works with clients at all stages of their financial lives, helping them understand their options and achieve their goals, which includes discussing long-term care insurance with them. The AARP also accredits him to work with their leads on long-term care insurance. Many of his clients seek his advice after a personal experience caring for aging parents or being referred by their financial planner to discuss asset protection with long-term care insurance. His primary emphasis is educating families about long-term care options rather than just selling insurance policies.  In this episode, Christopher and Annalee address the importance of planning for long-term care, the misconceptions about Medicare and Medicaid, and the financial strategies for aging in place.

 

Quotes:

• "There are always options, but the earlier you plan, the better your options will be." – Christopher Nolan
• “It's just like anything in life, the more resources and money you have, the more options you have, right? So, the better you plan now, the more options you'll have later.” – Christopher Nolan
• "If you don't have a plan, the state has one for you, and unfortunately, it's not a very good one." – Christopher Nolan

 

Takeaways:

• Plan for long-term care as early as possible in life to keep costs down and avoid relying on Medicare and Medicaid, which don't cover everything.
• As an investment in your future security, consider getting long-term care insurance to cover costs associated with nursing homes, assisted living, and home care.
• Families should talk openly about getting older and long-term care preferences so everyone is on the same page and ready.
• Talk to a professional about your long-term care options to make smart choices and avoid financial stress caused by not planning ahead.

 

Conclusion:

When families plan their finances, they should give long-term care insurance a lot of thought. This type of insurance is necessary for future care needs and helps lessen the emotional and financial stress from unexpectedly high long-term care costs. Families can protect their assets by making smart choices when they know their options and take advantage of tax breaks. Getting long-term care insurance early on is an important proactive step to ensure your loved ones get the care they need without exceeding the budget. Careful planning and investing in long-term care insurance can give families worried about the unknowns of aging peace of mind and stability.

 

Resources:

Annalee’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

 

Guest Links:

Christopher's LinkedIn

Christopher's Website

Choosing the Right Medicare Plan for Changing Health Needs with David Klaus

Are you getting headaches from trying to navigate Medicare options for an aging loved one? Feeling burned out from constant caregiving responsibilities and unsure of how to plan for the future? As burned out caregivers struggle to juggle work, family duties, and aging parents' care, making Medicare decisions alone can seem daunting. However, seeking guidance from experts can alleviate stresses. Learn why it's critical to understand provider networks, changing health conditions, and flexibility within different Medicare plans.

 

David Klaus is a licensed financial advisor helping families navigate today's complex Medicare maze. As a Certified Financial Planner and elder planning specialist, he understands the intricate rules and regulations that often confound seniors and their loved ones. On this episode, Annalee and David discuss the complexities families often face when planning for their parents' medical needs and long-term care. Stay tuned!

 

Quotes:

• "Health insurance and health care are one of the biggest risks that we all face. We want to make sure we have good comprehensive coverage as much as possible.”
• "Those who spend more time evaluating those options upfront and throughout the years are going to end up saving a lot of money and getting more peace of mind that their health insurance options are chosen wisely.”
• "You want to focus on family and health, and health recovery is the best that you can bear."

 

Takeaways:

• Evaluate your current Medicare plan and consider if a switch could provide better coverage as your health needs change over time. Ask an expert like David to review your options.
• Consider how provider networks may impact future care needs if moving or requiring skilled nursing. An advisor can help analyze network flexibility within different plan types.
• If caring for aging parents, assess their ability to make ongoing Medicare decisions independently. Seek help from advisors if signs of confusion or frequent plan changes appear.
• Schedule time with a licensed Medicare advisor to review enrollment windows, components of Medicare, and potential cost-savings programs available based on your individual situation.

 

Conclusion:

Medicare planning is complex and requires professional guidance to navigate effectively. Fully evaluating plan options upfront and periodically, along with flexibility in providers and building a team of trusted advisors, ensures optimal coverage and peace of mind for families facing eldercare complexities. Ongoing guidance is essential to prevent unnecessary plan changes, especially as cognitive decline may affect decision-making over time.

 

Resources:

Annalee’s LinkedIn

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

Guest Links:

David's Facebook

Navigating Healthcare in Retirement: A Guide for Families with Marcia Mantell

Are you overwhelmed caring for aging parents and struggling to understand their healthcare options? Do costly medical surprises and complex retirement programs like Medicare and Social Security keep you up at night? You're not alone. Many caregivers find themselves in crisis trying to navigate the maze of our healthcare system while juggling work responsibilities and family dynamics. With medical crises and disease progression looming, making the wrong choices about programs like Medicare could have serious financial consequences for years.

 

Marcia Mantell is a retirement expert helping families navigate the complexities of aging. With over 30 years in the industry, she has a deep understanding of how Medicare, Social Security and healthcare costs can financially impact retirees. On this episode, Annalee and Marcia discuss the caregiver crisis in depth. Join them as they unpack the intricacies of aging, healthcare, and financial planning so you can avoid costly mistakes and ensure the best outcomes for your family.

 

Quotes:

• "We have no reason to know that once we're getting into retirement, nothing that we've been doing for the last 40 or 45 years applies any longer. We are now, completely and literally, talking about and being shoved off a cliff into the great blue ocean below."
• "If you don't get those right, you have long-term problems—different long-term problems in addition to aging. We want to help you avoid making some of those big mistakes or misunderstandings that are floating around out there."
• "This interconnectivity just carries through in ways that we would have no way of knowing. These things are connected."
  
  

Takeaways:

• Research your Medicare and prescription drug options starting at age 60 using Medicare's Plan Finder tool. Put in your medications to understand costs..
• Beware of incomplete information in Medicare Advantage plan advertisements. Do your research on costs and coverage details before enrolling.
• Ask your financial advisor if they are well-versed in Medicare rules and how programs intersect. Seek guidance from an expert if needed.
• Consider your insurance needs if relocating or experiencing major health changes. Research provider networks for facilities in the new location.
  
  

Conclusion:

Navigating healthcare and retirement planning requires careful consideration due to its complexity and long-term impact. Lack of education on programs like Medicare and Social Security can lead to misunderstandings, emphasizing the importance of early preparation, thorough research, and seeking professional guidance to make informed decisions and avoid costly mistakes. Additionally, consumers must advocate for themselves, asking the right questions and diligently researching options to ensure transparency and optimal outcomes within these systems.

 

Resources:

Annalee’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

Guest Links:

Marcia's LinkedIn

Marcia's Website

What's the Deal with Retirement Planning for Women?

What's the Deal with Social Security for Women?

Understanding Powers of Attorney and Estate Planning With Financial Planner Billie Porter

Feeling overwhelmed about managing your aging parent's finances or medical needs? You're not alone. Elder care planning is crucial but can be daunting. Open communication and careful organization are key. Check financial accounts regularly, set up a password system, and ensure you have a power of attorney document to prevent elder financial abuse. Act now to protect your family's future and peace of mind!

Meet Billie Porter, a trust officer and certified financial planner at FineMark National Bank and Trust. With 18 years of experience in the financial industry, Billie will share her invaluable guidance on establishing the right foundations, from ensuring trusted contacts to requesting annual account reviews. Learn her top tips for streamlining responsibilities through proactive planning. Discover the simple steps you can take today to feel confident and prepared for whatever may come. 

Quotes:

• "I encourage you to talk with your kids to see who's willing, ready, and able to act and who isn't going to be upset that your child number one is named over child number two.”
• "The power of attorney is a very powerful document. But in other states, they’re actually springing powers, or they’re not available to use until that person who made them is actually incapacitated and unable to make their own decisions."
• “Remember, it's not automatic. So make sure you talk to each financial institution and try to get the powerful document to them as soon as possible. Even proactively, some institutions will accept it ahead of time so that they know who to talk to if something happens.”
  
  

Takeaways:

• Ensure you have the proper legal documents, such as powers of attorney and medical directives, and that they are reviewed regularly.
• Communicate clearly with family members about your plans and wishes for end-of-life care and financial decision-making.
• Work proactively with financial institutions to ensure smooth transitions of responsibilities and access during incapacity events.
  
  

Conclusion: 

Being proactive in planning and communicating about essential documents like powers of attorney, wills, and medical directives is crucial. Families should understand their parents' wishes and financial situation in case of a medical crisis. Having the proper legal documents and communicating with professionals can help ensure a smooth transition if parents become incapacitated. Regularly reviewing plans with parents and professionals can help account for changing needs and relationships over time. Families can best support their aging loved ones with advanced preparation and open communication. Following these steps ensures a stress-less process for you and your family.

Resources:

Annalee’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

 

Guest Links:

Billie's Website
Billie's LinkedIn
Billie's Email: bporter@finemarkbank.com 

Protecting Your Clients' Retirement from the Risk of Elder Care Expenses with Vidale Marketing Group

Navigating elder planning and care solutions is a critical aspect of financial planning for aging clients. As individuals age, they face unique challenges related to healthcare, long-term care, and estate planning. Financial planners play a vital role in helping clients navigate these complexities by offering guidance on topics such as Medicare, Medicaid, and long-term care insurance. Additionally, addressing estate planning matters such as wills, trusts, and powers of attorney ensures clients' wishes are carried out effectively. By addressing these important aspects, financial planners can provide peace of mind and support for their aging clients and their families.

 

Damien Conway and Leigh Maynard are experts from Vidale Marketing Group and specialize in funding long-term care costs. As leaders in the aging care industry, they have over 60 years of combined experience helping families secure stop-loss protection against the rising costs of care. Their immediate care plan annuity provides clients and their loved ones with the peace of mind of knowing funds will last for the duration of care needed. On this episode, Damien, Leigh and Annalee address how financial planners must evolve to properly plan for clients' aging years, the rising costs of care, and solutions like the immediate care plan that can help secure clients' ability to afford quality care throughout retirement.

 

Quotes:

• "You, as an advisor, are in a unique position to ensure that he has enough solutions and care supports at home so that he doesn't prematurely end up in a nursing home just because no one cared enough to make sure they had proper care in place at home." - Anna Lee Kruger
• "People are living longer, which is a great thing. It's something we should all be grateful for because it's a much better place to be. But what we have to think about is how we fund those finances in those later years." - Damien Conway
• "If you truly want to be intergenerational, you need to look after your clients’ parents as well." – Leigh Maynard

 

Takeaways:

• Educate yourself on aging issues like care costs, care options, Medicaid, and how to budget for a client's longer retirement years. Start addressing these topics proactively with clients.
• Consider how you can build intergenerational relationships within client families and look after parents' finances as well as adult children clients.
• Research products like the immediate care plan that can provide stop-loss protection for clients paying for long-term care. Look for ways to secure clients' ability to afford care costs.
• Facilitate family meetings to identify aging and care needs, determine the best solutions, and ensure adequate financial planning is in place across generations.

 

Conclusion:

Financial planning for aging clients is vital but often overlooked. Longer lifespans and healthcare costs threaten retirements. Advisors must educate themselves on care options, build family connections, and offer solutions like immediate care annuities. These can safeguard against financial strains when supporting elderly relatives. Finally, advisors should broaden their approach to encompass later life stages and health challenges in client planning.

 

 

Resources:

Annalee’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

 

Guest Links:

Damien's LinkedIn

Damien's Email: damien@vidalemarketinggroup.com

Leigh's LinkedIn

Leigh's Email: leigh@vidalemarketinggroup.com

Effective Family Care Plans and Elder Care Conversations with Carroll Golden

As people worldwide continue to get a bit older daily, it's becoming ever more important to have a solid care plan. But don't worry, effective care planning isn't just about the medical stuff - it's also about making sure we're ready for the emotional and financial aspects of this new stage of life. The goal is to ensure our loved ones receive the care they need in a way that respects their dignity. It’s about getting the rest of the family ready for the new roles and challenges of providing care.

 

Carroll Golden is a Best-Selling Author and Speaker who guides businesses towards care-based growth. As an expert in multigenerational care planning and long-term care options, she discusses the critical need for early and thorough care planning. In this episode, Carroll and Anna talk about family dynamics, the importance of end-of-life planning, involving all family members in caregiving, and assessing care costs and options.

 

Quotes:

• "I know it's a taboo topic. Your grandparents don't want to talk about it, you don't want to talk about it, and your kids have no idea what the impact would be if they didn't talk about it." – Carroll Golden
• "Options begin to close out on you. When you haven't done anything, that's when you go into crisis mode." – Carroll Golden
• "We could all learn together. That's the whole idea behind the care planning team." – Carroll Golden
• "We retire from work, but we don't retire from family." – Carroll Golden
  
  

Takeaways:

• Begin conversations about aging and care planning early to avoid rushed decisions under pressure and to have more choices.
• Engage the entire family in the planning process. Utilize tools like a "care squad" and conduct regular "care planning team" meetings to ensure everyone's voice is heard and they feel involved.
• Leverage technology, like video calls, to facilitate family meetings and planning when family members are geographically dispersed.
• Reframing discussions around retirement planning and longevity instead of immediate care needs to create a more positive conversation.
• Collect essential medical and financial information from aging parents respectfully, without making them feel invaded or managed.
• Incorporate considerations of various care options and their costs into the planning process using relevant tools.

 

Conclusion:

As we navigate the journey of an aging population, it's so important that we prepare for both the changes that are bound to happen and the potential hurdles along the way. Make sure your medical resources are strong and our emotional support is overflowing, and don’t forget about having a financial plan to back these needs up. After all, it’s all about giving our cherished elderly the best care, dignity, and quality of life possible. And in doing so, we're also prepping ourselves for the beautiful, challenging journey of caregiving.

 

Resources:

Annalee’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

 

Guest Links:

Carroll's LinkedIn

Carroll's Website