Health care and medical coverage -- Long-term care, assisted living and nursing homes -- Hospice care -- Social Security -- Pensions -- 401(k)s, IRAs, etc. -- Life insurance and annuities -- Outliving their money -- Real estate and reverse mortgages -- Lifestyle adjustments -- Transferring authority -- Charity, giving ... and other good things -- Scams, probate ... and other bad things -- Baby boomers and the hard conversation
Summary
Two out of three people under 40 in the year 2003 will have to assist with or maintain an elderly parent's lifestyle at some point in his or her life. As many people caught in the "sandwich" generation between needy children and parents will attest, the old model of counting on your parents to have pensions or Social Security doesn't work anymore. People have to take a more aggressive role in the financial life of their mothers and fathers. This book shows you how. Mike Rust is an Ohio-based pension actuary who consults with employers on retirement plans