Wisdom Wednesday: Aging Wisdom's Podcast

In the series of episodes, we’ve explored what it will cost, the unexpected costs to prepare for, as well as who pays? Who can help you make sense of all the senior and long-term care housing options?  Making a decision can be overwhelming but you don't have to make these difficult decisions alone. Some of the people and organizations that you might consider engaging for support include:    ...

So far we’ve covered the breakdown of costs and unexpected costs . Now it’s time to explore who pays for retirement communities. Most senior and long-term care housing is paid for through personal finances such as savings, investments, pensions, assets, and Social Security income.  It’s not uncommon for people to assume that Medicare will pay for these services, but it does not. As Lisa explains,...

In the previous episodes of this series on The Cost of Senior and Long-Term Care Housing we reviewed the typical breakdown of costs for retirement communities:  the one-time deposit or entry fee monthly rent the monthly cost of care In this episode, we’ve going to talk about Unexpected Costs to help you better understand and prepare for future needs.  The costs of care include assistance with medi...

Costs vary greatly from region to region and as you might expect, prices in larger cities are much higher than outside urban areas. Costs also vary considerably by type of care needed – home health, assisted living, memory care, adult family home or nursing home.  The Genworth/CareScout Cost of Care Survey shows average costs and serve as a helpful starting point. Other factors that influence cost...

An educated consumer is a wise consumer. And senior and long-term care housing can be filled with added costs and fees that may catch you off-guard if you aren’t aware of them ahead of a move. Understanding what you will pay is essential. That is why we cover the breakdown of costs in this episode and get more specific in subsequent episodes. We have included a financial worksheet-- which you can...

Making sense of all the senior housing and long-term care options can be overwhelming. But you don’t have to make the decision alone. There are several different avenues you can go for guidance. Most senior centers have a social worker on site that can be a great resource. Your local Area Agency on Aging is another resource. Here in greater Seattle, you can start by contacting Community Living Con...

Adult Family Homes (AFHs) are located in neighborhoods, usually licensed for six residents. They are common in Washington State, though not an option in every state.  They provide room, board, laundry, necessary supervision, and necessary help with activities of daily living, personal care, and social services.  The adult family home model has created a residence for individuals to get a high-leve...

CCRCs and Life Plan Communities (LPCs) are larger, high-end communities that typically include Independent Living, Assisted Living, Memory Care, and sometimes Skilled Nursing.  Healthy, active adults move into a CCRC as an independent resident. If you need more support over time, there are various levels of care within that building or campus available to provide care.  Care is provided as a conti...

Skilled nursing facilities, nursing homes, and rehab centers provide short-term, residential rehabilitation services to individuals recovering after a hospital stay following an illness, injury, or surgery, or long-term care for individuals who require more specialized medical support.  They differ from the other options we’ve discussed in that they are geared for two types of care: one is short-t...

In the early stages of Alzheimer’s and other dementias, most people can live and be safely cared for at home by family or professional caregivers, or in an assisted living residence.  A move to memory care may be prompted by a change in health or cognition that is unsafe or unhealthy for the person living with dementia or their primary care partner.   Memory Care is specifically designed to provid...

It’s important to be realistic about what Assisted Living provides – these are some aspects to consider: A move to Assisted Living for someone who has been struggling with navigating living in their single-family home or condo can be transformative.  Assisted Living support is intermittent, not one-on-one. Assisted Living provides specific support for Activities of Daily Living (ADLs) such as bath...

Last week we provided an overview of Assisted Living (AL) .  While “aging in place” has its benefits, such individualized care can be expensive. Additionally, it can be isolating. Senior housing and long-term care options require a move but are more social and can be cost effective. Assisted living. People move to assisted living when they are ready to stop cooking, cleaning, and maybe even drivin...

Assisted Living provides personalized, supported care in a residential setting. Residents have their own apartments The monthly cost is reflective of the size of the apartment and supports needed.  People often move to assisted living when they are ready to stop cooking, cleaning, and maybe even driving. They enjoy social activities but need more help than an independent retirement community might...

Understanding the differences between senior housing and long-term care options is essential to making the best choice to meet needs, goals, and well-being, while providing peace of mind. The choices can be overwhelming when it comes to retirement communities, especially if you live in a metropolitan area .  In this next series of episodes, we provide a comprehensive overview of the six most commo...

Now what? 4 steps to understanding options, risks and benefits of each. First step: Get educate about care options. Second step: Understanding the cost of various options and your parents’ financial situation. Third step: What level of care do your parents need? Fourth step: Create a plan based on your parents’ preferences, their specific care needs, and their financial situation. Who can help fam...

Is the Grass Greener? Benefits to moving to a retirement community We’ve look at the reasons your parents are resistant to change .  We’ve talk about the common challenges to staying at home . Now we are going to explore the benefits of what a retirement or senior living community has to offer.  In future episodes we’ll cover next steps when planning for a move, as well as the specifics about diff...

Do you have a plan for the time when home it is no longer safe and supportive for your parent/s, your spouse, your partner, or you? Every family and every situation is different.  Just a few of the more common challenges we see to staying at home: Home maintenance and accessibility  Social isolation and loneliness Transportation  Fall risks, limited mobility, and physical safety Medication and hea...

During the pandemic, we created a series of educational online courses focused on topics that families grapple with most often. This became Aging Wisdom University, a way to continue delivering relevant information and resources to family care partners at a time of uncertainty. We know this content is valuable, but perhaps better shared now as short podcasts episodes.   Over the next few months, w...

In this podcast episode, the last episode in the Proactive Planning series, Kristin McHugh, Lead Advisor with Brighton Jones , and Lisa Mayfield , our principal and founder, answer more audience questions.   Their discussion in this episode focuses on working with an Aging Life Care manager, Sandwich caregiving, and long-distance caregiving.   Should we proactively establish a relationship with an...

In this podcast episode, as well as the next (and last) episode in this Proactive Planning series, Kristin McHugh, Lead Advisor with Brighton Jones , and Lisa Mayfield , our principal and founder, answer more audience questions.   Their discussion in this episode focuses on long-term care insurance and long-term care costs .   Financial advisors often help clients review long-term care insurance p...

In this podcast episode, and the next two forthcoming episodes, Kristin McHugh, Lead Advisor with Brighton Jones , asks Lisa Mayfield , our principal and founder, answer some audience questions about Proactive Planning. First question: Have you seen any data on what folks like the most as a type of care or how care types link to happiness or life satisfaction?   As Lisa reflects, in general, it&ap...

Aside for Aging Life Care Professionals (aka Care Managers) like ourselves, the professionals below are also resources for help with planning. To find an Aging Life Care expert in your area, visit our professional association – the Aging Life Care Association at aginglifecare.org  Other professionals that can help you on the planning journey include: Your financial advisor or wealth manager  Local...

In addition to elder law and estate planning attorneys, and financial advisor and wealth managers, there is a third type of professional that can help you with care planning , Aging Life Care Professionals, aka Care Managers, like our team here at Aging Wisdom.   An Aging Life Care Professional provides consultation and comprehensive, personally tailored plans addressing health changes, family dyn...

The Seattle Times addressed the cost of long-term care in this recent article, Seattle-area assisted living comes with a crushing price tag .  The cost of long-term care often comes as a shock to many.  What does care cost? This slide provides a snapshot of the annual costs of home care, assisted living, skilled nursing, and adult family homes. (Memory care costs are not reflected in this graph)....

Financial planning . Whether it's for yourself or for your parents, having an understanding of assets in the context of when you're retired is essential. You'll need money for your basic needs, money to maintain the lifestyle that you want to live, money to still travel if that's a priority, and for charitable giving, if that's a priority. You will also need money to cover...