{"id":5641,"date":"2019-09-09T07:00:35","date_gmt":"2019-09-09T12:00:35","guid":{"rendered":"https:\/\/www.senioradvisor.com\/blog\/?p=5641"},"modified":"2019-09-06T01:21:42","modified_gmt":"2019-09-06T06:21:42","slug":"financial-planning-for-caregivers","status":"publish","type":"post","link":"https:\/\/d30braiqprupoq.cloudfront.net\/blog\/2019\/09\/financial-planning-for-caregivers\/","title":{"rendered":"Financial Planning for Caregivers"},"content":{"rendered":"

Financial Planning for Caregivers<\/h1>\n

Last Updated:<\/strong> September 9, 2019<\/p>\n

How can you\u00a0ensure that both you and the parents or senior loved ones that you are caring for will all continue to live a comfortable life as you age? Often, too many caregivers manage complicated finances alone, but help is out there.\"Financial<\/p>\n

We spoke with Greg Smith at Transamerica, who\u00a0recommends\u00a0that caregivers use the following four tips\u00a0to begin financial planning<\/a> for their family.<\/p>\n

4 Steps for Caregivers to Take Towards Better Financial Planning<\/h2>\n

Transamerica shares the following steps for caregivers\u00a0to take towards future financial planning<\/a>:<\/p>\n

1. If you haven\u2019t already, start now.<\/h3>\n

\u201cThe core tenet of the advice that we give is\u2026 start early,\u201c says Smith. In fact, a lot of his advice boiled down to this idea \u2013 the earlier you start saving and making a plan for your financial future, the better. But if you haven\u2019t started yet don\u2019t feel disheartened. Just by thinking about it, you\u2019re ahead of much of the population.<\/p>\n

Says Smith, \u201cthere\u2019s a lot of industry research where a lot of people are either apathetic or in denial about their financial situation. Having that level of awareness is a good first step.\u201d<\/p>\n

2. Meet with a financial planner with your family.<\/h3>\n

When you think about all the different categories and factors that go into financial planning<\/a> \u2013 estate planning, social security benefits, taxes, etc. \u2013 it\u2019s a lot of information to grapple with. \u201cYou can do it yourself,\u201d explains Smith, \u201cbut we often give the analogy of working on your car. It\u2019s difficult to do it alone.\u201d<\/p>\n

Get your whole family together and go talk to a financial advisor about your goals and needs. Your situation is distinct and no article or resource online will speak to it directly as well as a knowledgeable individual who has the chance to analyze your particular situation.<\/p>\n

3. Understand your options.<\/h3>\n

\u201cAs we\u2019ve ventured into the caregiving market\u2026 one of the biggest things that we\u2019ve seen is there\u2019s a lack of understanding of everything from government entitlement programs to long-term care insurance to how you qualify for certain benefits,\u201d Smith explains. Of course, there is. Financial options and resources are complicated. You don\u2019t want to miss out on benefits you\u2019re entitled to, and you don\u2019t want to assume you\u2019ll be getting more after you retire than you do.<\/p>\n

Says Smith, \u201ca lot of people [going into retirement] have plans for health care expenses, their home and traveling, but that reality of not just the first day of your retirement, but once you get into it and unexpected things come up \u2013 it\u2019s a very big reality check for a lot of folks.\u201d Don\u2019t let reality take you by surprise.<\/p>\n

4. Why consider Transamerica?<\/h3>\n

You can find lots of businesses in the financial services field, but SeniorAdvisor.com\u00a0is working\u00a0with Transamerica because, not only have they been around for long enough to know their stuff, but they\u2019re making an effort to focus on the needs of caregivers and people who are retired<\/a>.<\/p>\n

They get that good financial planning always means taking the full family into account. Financial planning\u2019s not just about you \u2013 it\u2019s about parents who are facing the difficult decision of what type of senior living community to choose, and it\u2019s about you, who will deserve the same comfort you seek to provide your family members and loved ones with now.<\/p>\n

Proactive planning is one of the core tenets of Transamerica\u2019s message and they\u2019re values we can all benefit from.<\/p>\n","protected":false},"excerpt":{"rendered":"

Financial Planning for Caregivers Last Updated: September 9, 2019 How can you\u00a0ensure that both you and the parents or senior loved ones that you are caring for will all continue to live a comfortable life as you age? Often, too many caregivers manage complicated finances alone, but help is out there. We spoke with Greg Smith at Transamerica, who\u00a0recommends\u00a0that caregivers […]<\/p>\n","protected":false},"author":2199,"featured_media":14611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[200,29,162],"tags":[],"class_list":{"0":"post-5641","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-families-caregivers","8":"category-caregiving","9":"category-retirement-planning"},"acf":[],"yoast_head":"\nFinancial Planning for Caregivers<\/title>\n<meta name=\"description\" content=\"How can you ensure that both you and your parents will continue to live a comfortable life as you age? 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