archive
Baby Boom Money Squeeze Is Set To Get Tighter
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.
Caring For Aging Relative: 'To Give Her A Good Life'
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.
Part 7: Family Matters: Pitching In To Take Care Of Grandma
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.
Listening To Parents Key To Financial Responsibility
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.
Part 6: Time To Move Grandma: What To Do With Her Home?
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.
Part 5: Caring For Grandparent Matures A Young Man
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.
Paying For College: More Tough Decisions
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.
Waiting To Buy Long-Term-Care Insurance Adds Up
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.
Part 4: Long-Term-Care Insurance: Who Needs It?
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.
Workers Turned Caregivers Lose More Than Wages
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.
Part 3: Discovering The True Cost Of At-Home Caregiving
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.
'Bittersweet Season' Details Caring For Aging Mom
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.
Part 2: Preparing For A Future That Includes Aging Parents
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.