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Tuesday, June 05, 2012

Baby Boom Money Squeeze Is Set To Get Tighter

Maryland resident Ida Christian, 89, began showing symptoms of Alzheimer's disease in 2009. Her daughter, Geneva Hunter, and granddaughter, Yolanda, decided to take a hands-on approach to Ida's care. Ida lives with Geneva, and Yolanda quit her job to become Ida's daytime caregiver.

June 5, 2012 As this immense generation keeps aging, most will end up with dementia or other disabilities that require costly care. For individuals, families and taxpayers, this demographic shift will drain dollars and attention, and force extremely difficult decisions about living arrangements, as well as end-of-life care.

Summary

Caring For Aging Relative: 'To Give Her A Good Life'

Geneva Hunter (left), who runs the secretarial operations for a Washington, D.C., law firm, decided to take a hands-on approach to her mother's care and moved Ida Christian, 89, into her Maryland home.

June 5, 2012 The finances, logistics and emotions involved in caring for an elderly family member can be overwhelming. But three caregivers in multigenerational households see little choice. "She did her best for me, and I want to do the best for her," Geneva Hunter says of her 89-year-old mother, Ida.

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Tuesday, May 29, 2012

Part 7: Family Matters: Pitching In To Take Care Of Grandma

Chris Martin, 14, greets his great-grandmother AnnaBelle Bowers, 87, who lives part time with the Martin family in Harrisburg, Pa.

May 29, 2012 Sharing the duties of caring for the family's 87-year-old matriarch has brought the Martin family closer together. Everyone in the multigenerational household, including the teenage kids, lends a hand. But the situation is also forcing the Harrisburg, Pa., family to think about the future in new ways.

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Listening To Parents Key To Financial Responsibility

Parents can make a difference in whether their kids become spenders or savers, studies find.

May 29, 2012 Mothers and fathers can make a difference in whether their kids become spenders or savers, studies have found. Young people whose families had included them in conversations about money and budgets were much more likely to make more responsible financial decisions in the future.

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Tuesday, May 22, 2012

Part 6: Time To Move Grandma: What To Do With Her Home?

Frank stands outside his home in Glen Allen, Va., which he co-owned with his mother, Ida. The family recently sold the home in order to free up money for Ida's care.

May 22, 2012 Depressed home prices make the decision to move an aging relative even more difficult than normal. So what should be done with the house? Try selling in a depressed market? Or rent it until prices perk up? One family weighs a tough choice as it struggles to pay for a grandmother's care.

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Tuesday, May 15, 2012

Part 5: Caring For Grandparent Matures A Young Man

Maryland resident Nicholas McDonald, 24, has briefly abandoned his musical aspirations to enter the workforce and contribute to the family's finances. "I'd like to give my mom $100 every now and then," he says.

May 15, 2012 Nicholas McDonald grew up tempted by drugs and under pressure to hit the streets. Lacking male role models, he says he always saw his mom as "the apple of my eye." She tried to protect him growing up. Now, the 24-year-old is doing his best to return the favor, helping provide for his multigenerational family.

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Paying For College: More Tough Decisions

Kelley Hawkins (center) smiles at her daughter Carley (left) as her other daughter, Chelsea (right), looks on, in their family home in Harrisburg, Pa.

May 15, 2012 From your late 40s through early 60s, you're supposed to squirrel away cash to cope with health care costs in your old age. But for millions of Americans, middle age also is the time when children are seeking help with higher-education bills, and elderly parents may be needing assistance with daily care.

Summary

Wednesday, May 09, 2012

Waiting To Buy Long-Term-Care Insurance Adds Up

Kimberly Lankford is a writer for Kipplinger's Retirement Report.

May 9, 2012 Kimberly Lankford, personal finance writer for Kiplinger.com and Kiplinger's Personal Finance magazine, talks to David Greene about the shifting market for long-term-care insurance, and if it is still worth buying.

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Tuesday, May 08, 2012

Part 4: Long-Term-Care Insurance: Who Needs It?

AnnaBelle Bowers' long-time physician, Walter Watkin, gives her a kiss on the forehead at the end of her visit. When asked how long she had been coming to see him, he said, "Long enough for her file to be 2 inches thick."

May 8, 2012 As the nation's roughly 78 million baby boomers move into old age, the need for long-term care will soar. But when it comes to long-term-care insurance, relatively few sign up. The policies can be expensive and some big insurance companies have stopped offering them.

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Tuesday, May 01, 2012

Workers Turned Caregivers Lose More Than Wages

Cheryl Matheis is senior vice president for policy at the AARP.

May 1, 2012 The average caregiver is 49 years old. Cheryl Matheis, senior vice president for policy at AARP, tells Steve Inskeep when a worker has to leave their job to care for a relative, they lose on average $325,000 in lifetime income — from lost wages, Social Security and pensions.

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Part 3: Discovering The True Cost Of At-Home Caregiving

Ida Christian, 89, was diagnosed with dementia in 2008. Her condition demands around-the-clock care.

May 1, 2012 Few people want to turn over a loved one to institutional care. No matter how good the nursing home, it may seem cold and impersonal — and very expensive. But making the choice to provide care yourself is fraught with financial risks and personal sacrifices.

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Wednesday, April 25, 2012

'Bittersweet Season' Details Caring For Aging Mom

Jane Gross, author of A Bittersweet Season

April 25, 2012 As part of Morning Edition's Family Matters financial literacy series, Renee Montagne talks to Jane Gross, author of A Bittersweet Season, about caring for her aging mother, and what she wishes she had known before she started.

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Tuesday, April 24, 2012

Part 2: Preparing For A Future That Includes Aging Parents

Natasha Shamone-Gilmore (right) at church with her husband, Curtis Gilmore (center), and her father, Franklin Brunson, 81. Shamone-Gilmore moved her father into her Capitol Heights, Md., home after he developed dementia.

April 24, 2012 Nearly 10 million adult children are caring for aging parents today, according to a study by the MetLife Mature Market Institute. But, while aging is inevitable, planning for the costs associated with dependency in the latter phase of life doesn't come easily to most Americans.

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Series Credits

Family Matters was produced for radio by Nicole Beemsterboer and Jim Wildman, with production help from Leah Scarpelli. Editors were Jessica Smith and Chuck Holmes. Reporting by David Greene.

Online reporting by Marilyn Geewax; content edited by Avie Schneider. Photos by Kainaz Amaria. Graphics by Alyson Hurt. Jess Gitner compiled stories from listeners.