Caring for Your Aging Parents

Episode 044: Where Care Meets Money: What to Do When Mom Can’t Live Alone Anymore

You get the call. Mom fell, or she left the stove on again, and now she can’t safely live alone. Lynn and Janet walk through that scenario step by step. Lynn covers the signs families notice first, the ones they miss, and how to start the hard conversation. Janet covers the money: how to build a financial snapshot of your parent’s situation, what in-home care, assisted living, and nursing homes cost, why Medicare doesn’t pay for long-term custodial care, and when to call an elder law attorney. They also cover power of attorney, protecting your own retirement, and the emotional cost of caregiving. You leave with one action for this week.

Show notes:

Show notes may include affiliate links. If you sign up through my link, I may earn a small commission at no extra cost to you. I only recommend tools I actually use and point clients toward.

In this episode:

• The signs a parent can no longer live safely alone
• The financial snapshot: income, savings and investments (including home equity), insurance, VA benefits, and key documents
• What care costs: 2025 national median costs per year (Your local costs may run higher or lower).
• Medicare vs. Medicaid, and why Medicaid spend-down and look-back rules call for an elder law attorney
• Long-term care insurance, and life insurance with a long-term care rider
• Why a power of attorney and healthcare directive need to be in place before a crisis
• How to help your parent without sacrificing your own retirement
• Caregiver burnout

Your action step this week: Find out whether your parent has a financial power of attorney, a healthcare power of attorney, and a healthcare directive. If they do, find the originals. If they don’t, schedule time with an attorney to draft them.

Resources: Estate Plan Bundle

Caring for Your Aging Parents Podcast

Episode 043: Meet Your New Host! A New Chapter for Caring for Your Aging Parents

Lynn Smargis started Caring for Your Aging Parents to help families through one of adulthood’s hardest jobs. Now she hands the show to Janet Berry-Johnson, a CPA and Certified Financial Education Instructor who helps Gen X adult children get ahead of their parents’ finances. In the first of three handoff episodes, Lynn explains why she’s stepping back and what she looked for in a successor. Janet shares how a career in tax led her to Daily Money Management, what she is dealing with in her own family, and what changes (a closer look at the money side of caregiving) and what stays the same (the mission, the audience, the tone).

Show notes:

In this episode:

• Why Lynn started the show and why she is stepping back
• How Janet went from tax advisor to Daily Money Manager
• What Janet is navigating with her own parents, who are in their 80s
• What Lynn looked for in a new host
• What stays the same and what is new
• A preview of Episode 2, where Lynn and Janet walk through one caregiving scenario from start to finish

Podcast resources:

Connect with Janet at jbj.cpa

Follow Janet on Instagram: https://www.instagram.com/jbj.cpa/

Janet is a CPA, but she is not your CPA. This episode offers general information, not tax, legal, or financial advice.

Welcome to the season finale of Caring for Your Aging Parents, where I explore the intricate dance between caregiving and self-care. Drawing from personal experiences, I discuss the vital importance of support systems for caregivers and how these networks can be our lifelines. Balancing caregiving, parenting, and personal pursuits isn't easy, but I've learned that self-care is essential, not just a luxury.

I share poignant memories, like a cherished family vacation to a horse ranch in Utah with my father during his battle with stage four adenocarcinoma. These experiences highlight the necessity of creating lasting memories for ourselves and our loved ones. We delve into the options that provide caregivers with much-needed respite, such as cruises and professional care services.

In this episode, I offer practical strategies for setting boundaries and effectively delegating tasks. I discuss the benefits of asking for help and being specific in our requests. From enlisting friends to handling daily chores to considering respite care options, the focus is on ensuring caregivers don't sacrifice their well-being.

Join me as we celebrate the power of community, self-care, and the creation of memories that withstand time. Remember to take care of yourself, because if you don't, no one else will. Thank you for joining me this season, and I hope you find time for self-care this week.

Podcast Resources

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Caring for Your Aging Parents is brought to you by Pacific Northwest Seniorcare

Podcast Disclaimer

The information in the Pacific Northwest Seniorcare podcast is for educational and informational purposes only. The content shared by the host, guests, and any affiliates is not intended to substitute for professional medical, legal, or financial advice or any professional advice specific to your situation. Always seek the advice of a qualified professional with any questions you may have regarding these matters.

The host is not a medical or legal expert, and the opinions expressed on the show by the host or guests are those of the individuals and do not necessarily reflect the views of Pacific Northwest Seniorcare. Pacific Northwest Seniorcare, the host, guests, and affiliates are not responsible or liable for any care, medical, or legal decisions made by listeners or actions taken hereto based on the information discussed in this podcast. By listening to this podcast, you acknowledge and agree to release Pacific Northwest Seniorcare, the host, affiliates, and guests from any liability.