Effective Ways to Discuss Elderly Care Within Your Family | S3: EP3
Welcome to another compelling episode of Real Wealth Podcast, proudly brought to you by Leading Edge Financial Planning. I'm your host, Mike Proctor, and today we're delving into the intricate world of aging and dementia care with our esteemed guest, Robert Miller.
Robert, a seasoned elder care professional turned professor, brings a wealth of experience from his impressive background. With 12 years dedicated to business development and operations at Comfort Care Homes, he rose to become the Senior Vice President. As the founder of Care Pitch, his consulting firm, Robert lends his expertise in care consulting, private care, patient advocacy, and coaching. Currently contributing to the College of Health Professions in the Department of Public Health Sciences at Wichita State University, Robert teaches classes on aging. Additionally, he co-founded the annual Conference on Dementia in Kansas, attracting over 850 participants annually before stepping back.
Today, we'll discover valuable insights into navigating challenges during the holidays and the significance of early planning. Learn about practical tools like advance directives and long-term care insurance policies, essential for proactive aging care. Tune in for expert advice that resonates with caregivers and families.
Key Points:
Some of the key points from the podcast include:
- It's important to have conversations about care planning, medical directives, finances, and future needs earlier rather than later when a crisis happens.
- Building an adult relationship with aging parents based on trust allows for difficult conversations to happen more smoothly.
- Different types of dementia present differently and an accurate diagnosis is helpful for management.
- The costs of care range widely depending on the level of care needed, from a few hundred dollars per week for some private care to over $10,000 per month for full-time nursing home care.
- Informal family caregivers provide the majority of care for those with dementia but it can be physically and emotionally taxing without support.
- Having the right legal documents like powers of attorney and advance directives in place avoids confusion and conflicts if medical decisions need to be made.
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Disclaimer: The Real Wealth Podcast provides educational content; it is not a substitute for financial or legal advice. Consult with your financial and legal advisors before making any decisions.
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