Aging! Are You Prepared?

by MichelleR on October 19, 2010

I was recently reading a survey from Bupa Health Dialog, “More than one-third of those aged 65 and older have made no preparations [for growing older], and only six percent have nominated a family member or caregiver to look after them in their later years.  I work and converse with many resources in the financial arena and know that many people are not prepared for aging.  The report continued and offered that from a financial perspective, 22 percent of seniors worldwide have put aside savings for old age.”  Moreover, a report from the London School of Economics has found that the “informal care network (the traditional pattern of families looking after their dependent older relatives) is disintegrating, while the number of older people in need of care is growing.”

Are you preparing financially?  Do you have the appropriate documents in place such as living trust, will, do not resuscitate and/or advanced medical directives?  I would welcome commentary on this difficult topic.

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