What Are The Most Important Retirement Issues Facing Boomers and Seniors? - Part 2

I tell clients that retirement is one of the most important challenges they'll face. And they have questions. How are we going to make it in retirement? How are we going to address health issues? Financial issues?

Well, for many of us, it isn't going to be with retirement savings - because most of us don't have enough. We haven't planned adequately. And we all know that those who fail to plan...

Here are more issues facing Boomers and seniors about retirement...

* Social Security isn't yet "broken" - but it's on the way. And if you're planning on living on it...good luck! Current estimates say the program can pay all benefits for the next 25 years or so. But all bets are off after that.

* When should you begin taking Social Security? This is the $64,000 (or, for many of us, much larger!) question. For people in good health, the best answer is usually to wait...if they can. Taking benefits at 62 means a 25% hit in what you'd get if you waited until 66. And delaying benefits when you're 66 will raise them by 8 percent a year until age 70. The longer you can hold out, the better.

* Inflation: Overall, inflation is still low, despite increases in energy and food prices. But if the economy continues to recover, we can probably expect some serious inflation. And retirees - more than any other demographic - have to plan for this.

Planning for a successful retirement is like wrestling with an octopus. Just when you think you've got the beast subdued, another tentacle pops up. But we can help.

At the Law Offices of Alice Reiter Feld & Associates, we've been helping South Florida families deal with retirement questions for the past 34 years. And we've given them concrete methods of securing their retirements, with comprehensive estate planning, wills, trusts, powers of attorney, long-term care planning, asset-protection plans, and assistance with Medicaid or the VA.

Retirement security is a tough goal to achieve. But we can you get there. And we're just a phone call away.

I Recently Moved My Dad Far From Home, To Live With Us. How Can I Help Him Adapt?

Changes in routine can be very difficult for people with dementia or Alzheimer’s. And a forced move certainly qualifies as a change in routine. So you have to allow your father time.

 

Allow him to express his feelings – and listen to him. He has concerns which need to be addressed. He has feelings that need to be validated. He needs you to recognize that he’s dealing with true grief…and that he’s losing more of himself every day.

Trying to reason with him may be fruitless, and may cause him more agitation. But when he asks why, you might respond – calmly – “Dad, I know this has been hard for you. But I love you, and I wanted you close to me.”

Some other things you can try:

• Give him a photo album to look at, with photos of family and friends, vacations, and other pleasant memories. This often has a calming effect.
• Allow him to bring any personal items into his room.
• Introduce him to your neighbors and friends.
• If he can still write, give him a journal, and encourage him to express his feelings in it.
• He might benefit from a support group. Contact your local Alzheimer’s Association.
• If nothing else works, give him the opportunity to speak with clergy or a professional counselor.

Your Dad will need plenty of attention, reassurance, and validation. Keep telling him that you love him, you love having him with you, and you’ll always look out for him. Tell him how well he’s doing. And include him in family decisions when possible.

If you’re caring for a parent with Alzheimer’s or dementia, you’ve got a long and rocky road ahead of you. But we can help you navigate it.

At the Law Offices of Alice Reiter Feld & Associates, we practice Elder Law – and only Elder Law. Over the past 33 years, we’ve walked thousands of South Florida families through the Dementia Journey. And we’ve helped them prepare for this journey, as well…with comprehensive estate planning, wills, trusts, powers of attorney, long-term care planning, asset- protection plans, and assistance with Medicaid or the VA.

We know every step of the Dementia Journey. And we’ll get you through it. We’re just a phone call away.