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Ever yuncertainty is an oppor tunity.To make the most of the oppor tunities that today’s uncer tainty opens up,you need someone who has been on this path before.Let us helpyou navigatethis path now—and any one thatyou find yourself on in the future.
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Strong credit histories can benefit adults from all walks of life. It’s never too early for young adults to begin building their financial reputations.
Credit scores play a significant role in the lives of millions of adults across the globe A strong credit history can help people secure more bor rower-friendly terms on home and auto loans, potentially saving them thousands of dollars
Credit scores are not typically on the minds of young adults who are years away from purchasing their first homes However, young adulthood is a g reat time to be gin building a strong credit history By laying a strong foundation now, young adults can reap significant rewards when they try to finance major purchases, such as cars and homes, down the road.
Open a credit account.
It's important to be gin building credit histories once you're eligible, as young people with no credit histories may find it hard to get loans or even apartments of their own Cosigners can help, but loans secured with cosigners won't do much to improve young people's credit scores Bor rowers want loan applicants who have shown they can pay their own bills, and length of credit history
is one of many variables that are used to determine bor rowers' credit scores A long history that documents a young person's track record of paying bills on time is to his or her advantage Many credit card companies issue credit to applicants as young as 18, so young people should not hesitate to be gin exploring their options. The online financial resource NerdWallet notes that young people with no credit history may need to apply for secured credit cards. Unlike more traditional cards, secured cards are backed by upfront cash deposits However, secured cardholders must still make payments on time and will still incur interest charges if they don't. These cards can be a g reat way for young people to be gin showing lenders their creditworthiness
Installment loans are another g reat way for young people to build their credit histories. According to the credit reporting agency Experian, auto loans are among the easiest types of loans to obtain Young bor rowers may need cosigners, though some lenders may not require that Young people who want to buy new vehicles can avoid leaning on their parents to facilitate their purchases and instead take out an auto loan that requires monthly payments A track record of making installment loan payments on time and in full is a g reat way for young people to prove their creditworthiness and improve their credit scores.
Young people who rent and pay their rent on time might finally be able to benefit from that In the past, the only way rent payments were included on credit reports was if tenants were delinquent with their rent payments and subject to lawsuits or were reported to collection agencies. However, Experian recently started to include positive rental payment information in their credit reports Young people with histories of making rent payments on time can ask their landlords to report their positive payment histories to the credit bureaus
Consumers can benefit from knowing their credit scores and how to improve them.
Monthly budgets help people make the most of their money
While a person's income will affect how much they can spend on housing, food and clothing each month, another, more abstract factor can have a big impact on monthly budgets as well.
Nearly every adult has a credit score, which can fluctuate daily. Various factors, including a person's age and track record in regard to paying bills, combine to produce a credit score According to the credit reporting agency ExperianTM, credit scores range from 300 to 850, though most consumers' scores fall somewhere between 600 and 750 The Fair Isaac
Corporation create what's known as a FICO® Score, which is used by many lenders to determine prospective bor rowers' credit worthiness. FICO® scores are often characterized using five terms:
· Very poor: Scores between 300 and 579
· Fair: Scores between 580 and 669
· Good: Scores between 670 and 739
· Very good: Scores between 740 and 799
· Exceptional: Score between 800 and 850
Some consumers may feel that these are just numbers on a page But in certain instances, such as when consumers attempt to buy a home, a credit score can have a dramatic ef fect on a person's monthly budget When bor rowing to buy a home, bor rowers with desirable credit scores may be eli-
gible for considerably lower interest rates than bor rowers whose scores fall into the "Very poor" or "Fair" range Over the length of a standard, 30-year, fixed-rate mortgage, a low interest rate can save bor rowers tens of thousands of dollars in interest fees.
In addition to paying more in interest fees, ExperianTM notes that bor rowers with subpar credit scores may have to do even more to
earn the trust of lenders. Bor rowers whose scores fall into the "Very poor" range may be required to pay a fee or make a deposit when opening a new credit account, and some might not be approved for credit at all. Bor rowers whose scores fall into the "Fair" may be classified by lenders as subprime bor rowers, making it hard for them to open new credit accounts or secure loans without a cosigner.
Colle ge is the next logical step for many newly minted high school g raduates The National Center for Education Statistics indicated that, in fall 2019, roughly 19.9 million students were slated to attend colle ges and universities in the United States Statistics Canada stated that, for the 2015-16 school year, the most recent for school statistics, just over two million students were enrolled in Canadian universities and colle ges. Families need to be gin thinking about how to pay for colle ge as early as possible. According to the Wall Street Journal, the average colle ge g raduate's student loan debt is $37,172. And the most recent data from the Federal Reserve Bank of New York indicates the overall student loan debt in America alone is roughly $1 3 trillion. The average expense of sending a child to colle ge has been rising at double the rate of inflation for more than a decade, of fers CNBC.
A robust colle ge savings account can help future students avoid considerable debt The following are some ways to save for colle ge
The U S Securities and Exchange Commission says a 529 is a savings plan designed to encourage saving for future education costs The person funding the account pays taxes on the money before it's contributed to the 529 plan. Funds can be used for education expenses. There are two types of 529 plans: prepaid tuition plans and education savings plans. The prepaid plans allow account holders to purchase units or credits at participating colle ges and universities. With education savings plans, account holders
open investment accounts to save for qualified future higher education expenses, including room and board.
A Coverdell account is a taxadvantaged method to contribute up to $2,000 per year to a child's account. Individuals need to be under a certain income level to contribute The funds will g row free of federal taxes.
This is a custodial account that holds and protects assets for beneficiaries, who are typically donors' children. The custodian controls the assets until the minor reaches le gal age. The money will not g row tax-free, and it can be used for pur poses other than school expenses. The account also may count against the student and parent when applying for financial aid, which is something to keep in mind.
IRAs are often associated strictly with retirement savings However, they also can be used for qualified colle ge payments as long as the contributions have been made for at least five years, advises Nationwide Insurance.
Use a standard savings account.
Even though it may not g row as quickly as investment accounts, routinely saving money in a savings account can be another means to saving for colle ge
Areyour nala airs in order? Does your familyknowwhere your insurance,will,assets, family records, and valuable nancial informationare?
Avoid manyproblems. When youplanahead and makepre-arrangements now,youtidyup many loose endssuchasvitalinformationaboutyour assets, nances, andbene ts. Gatheringthis informationall in oneplace notonly makes goodsense,itsaves your familythefrustrationoftryingtoremember where everythingisduringtheir grief.
Act now andreceivethis free 16-page IndividualEstate Record. It containsvital informationevery familyneeds andusually doesn’t havewhen a lovedone dies.
Giveusacall,or lloutthe couponand dropit in the mail. iso er isgoodforalimitedtimeandavailable to families in this localarea.
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Financial changes are a fact of life Changes occur at every turn, including when students leave home for the first time, people get married and when families purchase their first home One of the biggest financial changes occurs when starting a family. Starting a family can come with a measure of sticker shock, particularly for young couples with-
out much financial history Since the 1960s, the costs associated with raising a family have risen exponentially, says the financial resource MarketWatch. Between 2000 and 2010, costs rose by 40 percent. Data from Money com indicates that, as of 2015, American parents spent, on average, more than $230,000 on child costs from birth until the age of 17 The U S
Department of Ag riculture says that today that number is closer to $245,000 per child, which does not include the cost of colle ge. BabyCenter.com of fers a cost comparison tool to help prospective parents get started on creating family budgets
When mulling the cost of starting a family, prospective parents can ask themselves the following questions to get a handle on their finances
Can I a ord big-ticket baby items related to safet y and comfor t?
Items may include a new vehicle with high crash-test ratings, or renovations to a home to provide a safe nursery If renovations are unlikely, then would-be parents may need to consider the costs of moving.
Have I considered daily child expenses?
Diapers, formula, laundry detergent, clothing for each stage of g rowth, and various other items are necessary when raising
a child Make a list of such items and their potential costs.
Pew Research states that expenses for a delivery can range from $3,000 to upward of $37,000 per child for a normal vaginal delivery, and from $8,000 to $70,000 if a C-section or special care is needed. Consider how much your health insurance will cover and how much adding a child to a policy will increase your rates
In order to af ford added expenses, both parents may have to work BabyCenter.com states that a family's average childcare costs are roughly $755 per month
Once you be gin a family it is important for both parents to have a life insurance policy in place to provide for surviving family members in the event of an untimely death.
With an e ective plan in place, people in debt of ten can dig themselves out of financial peril.
Debt can quickly sneak up on a person. However, it can take much longer - sometimes decades - to get out of debt And that's a big concern when considering just how much debt the average person has incur red.
Northwestern Mutual's 2018 Planning & Prog ress Study says the average American has about $38,000 in personal debt, excluding home mortgages. A survey from the insolvency firm MNP Ltd. found that 31 percent of Canadians do not make enough to cover their bills and 46 percent are a mere $200 or less away from failing to pay debts at month's end.
Researchers in the United Kingdom analyzed data from 1 4 million credit card holders and found that people typically choose ineffective methods to paying of f debt.
These tips can make it easier to get rid of debt.
Avoid new debt at all costs. Stop using credit cards, cease taking loans, do not buy any big-ticket items, and scale back on general purchases
The avalanche method is a way to pay of f debt. According to NerdWallet, a popular online financial resource, the debt avalanche approach encourages debtors to pay of f debts with the highest interest rates first. That seems like an ef fective way to get out of debt quickly However, in a 2016 investigation for the Harvard Business Review, research-
ers found that the snowball method, which prioritizes paying of f the smallest debt balance first and then moving on as debt amounts increase, is the most effective strate g y It tends to have the most powerful ef fect on people's sense of prog ress because they gain momentum by watching debts disappear.
Cut back nonessential spending, such as cable subscriptions or g ym memberships for the time being. Repur pose that extra money to pay of f existing debt
Customers can call customer service centers to see if they can lower debt by ne gotiating a better interest rate, says Credit.
com. Since much of a credit card payment goes toward monthly interest charges and not toward the actual balance, this can be a way to get a handle on debt Some people prefer to use a balance transfer to get a lower rate on another card and try to pay of f the balance before the promotional rate expires
When debt is so substantial that debtors cannot see the light at the end of the tunnel, they might ask a creditor to accept a one-time, lump sum payment to satisfy the debt. Debt consolidation companies also can help by ne gotiating with creditors and streamlining debt into one payment per month instead of many
ere arethree ver ygoodreasons to plan your end-of-life arrangements: Itensuresyourwishesareknownbyyoursurvivors. Iteliminates financial uncertainty. Iteasesstressandanxiety.
e plan you make now will provide peace of mind throughoutyour life andarespectfulclosureafter you’ve passed.
Managing money is just one of the many tasks associated with being a caregiver.
The number of retirees is on the rise. Data from the U.S. Census Bureau points out that, by 2030, there will be 81.2 million Americans over age 65, and many of them will need help taking care of themselves.
Care giving is a big responsibility. One crucial role care givers may take on involves managing a loved one’s finances AARP states that acting as a money manager becomes especially important if a loved one be gins having trouble keeping a checkbook or becomes confused about money
The Family Care giver Alliance® indicates millions of Americans are managing money or property for a family member or friend who is unable to pay bills or make financial decisions.
Juggling one’s own finances and the responsibilities of another person’s money can take its toll. Here are several ways to navigate these often tricky waters
Discuss plans in advance.
Have conversations even before an aging loved one needs care giving. Talking through dif ficult topics when parents are healthy can simplify decisions later on.
Joint back accounts make it easier for care givers to manage loved ones’ money if the person becomes physically or mentally incapacitated When necessary, you can step in as a money manager to pay bills, make deposits and withdrawals and monitor account balances.
fiduciar
AARP suggests drawing up le gal documents to manage all financial accounts A power of attorney is a le gal document in which one person assigns another the power to make financial decisions on their behalf. This also protects family interests, so that another relative like
a sibling, who may want his or her share of a loved one’s money, will not have access Documenting fiduciary changes in the letter of the law can serve as a measure of protection against potential problems
You may end up running yourself emotionally and financially ragged catering to a loved one’s needs According to a 2015 study from the National Alliance for Care giving, an estimated 43.4 million American adults provide unpaid care to an adult or child Taking repeated time of f of work or paying for loved ones’ needs out of your own pocket can take its financial toll Do not take on unmanageable debt
Speak with a financial advisor and/or elder care attorney about the best ways to manage a loved one’s money to ensure an aging parent or child will be provided for Ar ranging assets in certain ways can make individuals eligible for certain benefits.
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Long-term care insurance can help protect retirement dollars by paying for skilled nursing homes or home health aides.
Individuals plan for many dif ferent scenarios: buying a home, putting kids through colle ge and saving for retirement, among them Quite often the concept of making arrangements for one's golden years is placed on the back burner However, that can be an expensive mistake
According to AARP, by the time a person reaches age 65, he or she has a 50-50 chance of needing longterm care at some point in the future Medicare, the federal health insurance prog ram for people who are 65 or older in the United States, does not cover custodial care, which is the primary form of care in nursing homes Therefore, many people must find alternative ways to finance nursing home and other long-term care options. Those who must pay out-of-pocket spend an average of $85,000 per
year on a nursing home in the U S , and this is often an expense that has not been included in retirement budgets.
Long-term care insurance can be the best option to of fset the high costs of nursing home and other care in most instances It helps cover the costs of services that aren't covered by re gular health insurance, namely assistance with routine daily activities like bathing, dressing or getting in and out of bed, advises the financial resource NerdWallet. Such care may be administered at home by a private health aide or in a skilled nursing facility Most policies also will reimburse for services rendered in an assisted living facility or an adult day care center.
According to a study revised in 2016 by the Urban Institute and the U S Department of Health & Human Services, about 14 percent of people age 65 and older will require care for more than
five years Getting the facts about long-term care insurance can help individuals make important decisions for their futures.
· The earlier a person buys a long-ter m care insurance policy the lower the rates tend to be. The American Association of Long-Term Care Insurance says a 65-year-old couple can typically buy a policy for $4,800 per year to of fer base benefits of $180,000 plus 3 percent inflation g rowth. That plan price more than doubles if purchased at age 75.
· Cost also is based on the maximum amount the policy will pay per day and the number of years the policy will pay. Many policies limit how long or how much they will pay, some between two and five years, states the Administration on Aging.
· Policies require some medical underwriting, so not everyone will qualify.
AARP suggests seeking out an independent agent who sells policies from multiple companies rather than a single insurer.
Q: WhatdoesaClinicalLiaisondo?
A: Throughouttheday,Ivisitmedicalfacilities in thesouthernregion of VermontandNewHampshire–dropoffinformation,provideVNH newsandupdates,referralforms,andassist in anywayneeded.I am aresourceforourcommunitypartners, patients,andfamilies to ensure thatcontinuity of care is notlostfromhospital/facility to home,andthat eligible patientsreceivethehomecaretheyneedanddeserve.
Q: WhatservicesdoesVNHprovide?
A: Weprovidecare to peopleatallstages of life,wherevertheycall home.Weofferhomehealth,hospice,longtermcare, maternalchild health,pediatriccare,personalcare,rehabilitationservices,and non-medicalprivate dutycarethroughHelpatHome.It’sremarkable whatourstaffcan do to help patientsremainindependentathome.
Q: Whatfacilities do youtravelto?
A: IvisitMt.AscutneyHospital,Spring eldHospital,GraceCottage, BrattleboroMemorial,andCheshireMedicalCenter in Keene.Ialso visitthedoctor’sof ces,rehabilitationcenters,andlongtermcare facilities in thoseareas.Iattendcommunityhealthmeetings,such as Support&ServicesatHome(SASH)andothers.Manytimesthereare patientswhoarebeingmanaged by theirdoctorsbutcouldreallyuse ourservices in thehome.Those patientsaretalkedaboutatthese meetings, so by beingpresentI caneducate aboutthekind of help theVNHcanprovide.Ialsoattend
EmergencyRoom(ER)utilizationmeetings.Manypeoplethatfrequent the ER areeligibleforhomehealth or hospiceservices,andmaynot know how to accessthem. It is my role to helpthemunderstandthe bene tsVNHservicescanofferthose patients,and howbest to access theseservices.
Q: Hospice is aservicethat is underutilized in bothVermontand NewHampshire. If therewasonethingthatyouwouldwantthe public to knowabouthospice,whatwould it be?
A: Acommonmisconceptionabouthospice is that patientsare giving-upandgoinghome to die.Hospice is aboutgoinghomeand livingthebestlifeyoucansurrounded by thoseyoulove. It s about livingthoselastmonths,weeks,days to thebest of yourabilityand beingcomfortable,not in pain.TheHospicecareteamincludes doctors,nurses,homehealthaides,medicalsocialworkers,spiritual carecounselors,andtrainedvolunteerswhoworktogether to address physical,emotional,andspiritualneeds.Hospice is somethingthat we areallentitled to and it should be utilizedduringthelastsixmonths of life,notonly in thelastweeks or days.
Q: WhatmakesVNHdifferentthanotheragencies?
A: VNHhastwohospicecerti edMedicalDirector’swhich is unique in thisregion,and an immenseresource to ourstaffand patientsalike. Ourhospicecerti edphysicianselevate ourlevel of care,andexpertise. Also,teamcollaboration is an importantpart of what we do to ensure that we areall on thesame page andprovidingthebestquality patient andfamily-centeredcare.Wemeetweekly as an interdisciplinaryteam
face to face to discusseachandevery patient.Thiscollaborativepracticesets us apart as an agency.
Q: What is thebestpart of yourjob?
A: ItrulybelievethattheVNHprovides thebestcare in theregion.Ourstaffare committed,compassionate,andhighly quali ed.Ilove to talkaboutVNHand am honored to be part of suchagreat agencythathasservedthecommunity forwellover100years.Ienjoymeeting with patientsandtheirfamilies to provide information on hospiceservices,especiallyinformingfamilies of how we cansupportthemat an oftenverydif culttime. It is veryrewarding to letpeopleknowthattheycanlookforward to oursupportwhenthey arecominghome–wheretheywant to be.
Q: Is thereanythingelsethatyouthink is importantforthe readers to know?
A: Iwanteveryonethat is readingthis to understandthattheycan contact me or theVNHat anytime.Weare happy to answerquestions, discusseligibilityforhomecare or hospiceservices,andinformyou aboutouragencyand how to getstartedwithus.You arenotalone, we canhelpyouthroughthechallengesyouandyourfamilymay be facing, whileremainingathome.
Seniors have many di erent resources at their disposal that can help answer questions or provide ser vices when the need arises.
People want to g row old g racefully and maintain their independence as long as possible. There are many decisions to make as well as information to wade through to ensure needs are met and proper care is received through one's golden years. Individuals, care givers and families may find that a few helping hands along the way can be invaluable
Numerous elder care resources are available for those who don't know where to look Start by researching the National Council on Aging (www ncoa org) This is a national leader and trusted association that helps people age 60 and older The council works with nonprofit organizations, governments and businesses to organize prog rams and services at the community level. This is a good place to find senior prog rams that can help with healthy aging - emotionally, physically and financially
AARP (www.aar p.org) is yet another organization dedicated to helping seniors The comprehensive AARP website of fers a host of information on everything from senior discounts to products to health and other information specific to seniors The AARP also has an af filiated charity that works to help low-income seniors procure life's necessities.
At the local level, the federal government has mandated Area Agency on Aging (www n4a org) facilities in every county/city These agencies can provide information on service prog rams available to the seniors in the area, as well as financial resources These facilities give seniors access to volunteers who can take seniors
around by car, and some provide meals-on-wheels services.
The Administration for Community Living (www acl org) was established to help older adults and people of all ages with dis-
abilities live where they choose A network of community-based organizations helps millions of people age in place
Military veterans or those who are/were mar ried to a veteran
may be eligible for various benefits through the U.S. De par tment of Veterans Af fairs (www. va gov) The VA of fers health care services, disability compensation, burial benefits, and much more
Employer-sponsored 401(k) plans are great ways to save for retirement, potentially paving the way to worry-free golden years Such plans are even more attractive when employers o er to "match" contributions Employers that o er to match employee contributions typically will do so up to a given percentage For example, some companies may match up to 2 percent That means that employees who contribute at least 2 percent of their paychecks to an employer-sponsored 401(k) plan will receive an additional 2 percent from their employers For those who contribute 2 percent, that match will double their contributions to 4 percent at no cost to the employee
Despite the benefits of accepting employers' offers to match, recent data from the retirement planning specialists at Financial Engines indicates that many employees are not taking advantage of these o ers when given the chance A recent survey from Financial Engines found that $24 billion in 401(k) matches goes unclaimed ever year, with the typical employee missing out on more than $1,300 in matches annually
Over time, money left on the matching table could deny retirees tens of thousands of dollars, if not more Accepting an employer's o er to match is essentially accepting free money, making it something all investors should do if given the chance
It's never too early for adults to think about estate planning. Estate planning is an important part of money management While it's easy to think of estate planning as just a way to dictate how your assets are allocated after your death, estate planning also can protect people and their money should ac-
cidents or injury make them incapable of managing their finances on their own.
Some familiar terms may come up when people be gin planning how they hope to transfer their assets. Two more common terms are wills and trusts. Understanding the distinctions between the
two can help people as they be gin estate planning.
The online financial resource Investopedia notes that wills are le gally enforceable documents that dictate how people want their af fairs handled and assets allocated in the wake of their deaths.
Wills should include a host of information, including who a person wants to assume guardianship of their minor-aged children should they pass away. This is especially important information to include in a will, as surviving relatives may have to go to court to contest guardianship if parents do not dictate who they want to serve as guardians in their wills.
A trust is a relationship in which another party is given authority to handle a person's assets for the benefit of that person's beneficia-
ries When making a trust, a person will need to designate someone as a trustee, who will be tasked with distributing assets in accordance to the terms dictated in the trust.
There are many types of trusts, and working with an attorney who specializes in estate planning can help men and women determine which type of trust, if any, is best for them
Both wills and trusts can be useful when estate planning. In fact, wills are often used to establish trusts, and many people have both a will and a trust.
Estate planning is an important part of managing one's finances. A qualified attorney who specializes in estate planning can help people write their wills and, if necessary, establish trusts that can help surviving loved ones in the wake of their death.
Howoldareyoutoday?Thatispreciselytheageyoushouldconsider startingtoplanyourfuneral.“But I’m36andhealthyasahorse!”Great! Ifyourfamilyknowsyourend-of-life wishestoday,andapianofallsonyour headtomorrow,you’llsavethemalotof stressandworry.
Whensomeonepasses,thereare typicallythreeto vedays toorganize nalarrangements.This isalsoatimeofgreatsadness andstressforthosewhoare mourningthedeathofaloved one.Often,theyarenotinthe mindsettomakesigni cant decisions,especiallyifthey areuncertainofyour nal
wishes.Thisisonereasonthatfuneral planningisbecomingmorepopularin theUnitedStates.
Planningforyourfuneralisoneofthe mostgraciousgiftsyoucangiveyour lovedones.Makingthosedecisionsand communicatingthemtothosewhomatter becomesonelessthingtoworryabout, shouldtheunexpectedhappen.Having aplanfortheinevitablehelpseasethe burdenyourfamilywillfeelonceyouare gone.Folksofallagesshouldconsider planning:
•Inyour20sand30s,youmightbenewlywedsorhaveyoungkids.Whenthinking aboutthefutureofyourfamily–savings andlifeinsurance–makingpreliminary end-of-lifeplansmakessense.
•Inyour40sand50s,yourparentsbegin toshowsignsofaging.Maybesomeoneyouknowdevelopsanunexpected, seriousillness.Planningforyourself, oryourparents,isagoodmove.
•Inyour60s,youmaybemeetingwith a nancialplannerormakinglifeinsurancearrangementsaspartofyour retirementplanning.Consideringendof-life optionsroundsoutyourgoldenyearsplanning.
Therearemanythingstoconsider anddecisionstomakewhenitcomesto end-of-lifeplansforyourselforaloved one.Therightdecisionsaretheones thatwillgivepeaceofmindduring yourlifeandarespectfulclosureafter you’vepassed.
During the prime of their lives, people typically don't give much thought to scenarios in which they become ill or are facing the end of life Sickness and mortality are not easy conversations to have, but it is important for everyone to approach these heavy topics with close family members so that individuals can rest easy knowing their needs will be met if or when their health falters.
An advanced healthcare directive - also known as a living will - is a le gal document in which a person lists the specifics of medical care and comfort actions they desire should the individual no longer be able to make decisions for themselves due to illness or incapacity The le gal advice resource Le gal Zoom says the living will may list certain things, such as whether life support is desired or if pain medication should be
administered. A living will should not be confused with a traditional will, which is a le gal document that explains wishes for financial and personal assets after a person dies Living wills also dif fer from living trusts, which address how assets will be managed if a person becomes incapacitated.
A living will is not always a necessity if a person does not have strong feelings about decisions made on his or her behalf while not cognizant. However, for those who do want to have a say in care, a living will is the best method for ensuring choices will be car ried out. The following are some other questions people should ask themselves concerning living wills.
Do I want to remove the burden of tough choices from my loved ones?
A living will relieves g rieving loved ones of the responsibility of making challenging decisions of invoking life-saving procedures or not - particularly if they're not sure what you desire
Do I have firm feelings about life-saving methods?
A living will allows you to spell out preferences on insertion of feeding tubes, if you want specialized hydration, if you want to be hooked up to life support if brain function is minimal, and a host of other scenarios.
Is cost preventing me from draf ting a living will?
Cost need not be a factor in setting up a living will. You can download a free template from any
number of online le gal sources Local hospitals often have forms as well, which can be notarized for only a few dollars. These forms are generally comprehensive and can help you answer all the questions and write in specifics
Have you selected a trusted person to carr y out wishes?
A health care proxy, according to the American Bar Association, is a person appointed by you with the authority to make decisions for you if you are unable to express your preferences for medical treatment. Together with the living will, the health care proxy, also called a durable medical power of attorney, can fulfill your wishes accordingly
Financial planners don’t just help people plan for retirement. Many planners are equally e ective at helping clients achieve their daily financial goals as well.
Financial planning and retirement go hand in hand. Without ef fective planning, many people would never be able to retire, while others might have to work much longer than they hope to While financial planning is essential to achieve long-term goals, planning also can make it easier for people to meet their everyday financial needs.
Managing money is a big re-
sponsibility, and it's one that many people may need help with A recent survey from Pew Charitable Trusts found that 55 percent of Americans spend as much or more than they earn That's not only compromising their financial futures, but also making daily life more stressful, as the American Psychological Association's annual "Stress in America" survey routinely finds that money is a top
cause of stress among millions of Americans.
Adults who are finding it dif ficult to manage their money on a day-to-day basis may benefit from the services of a financial planner Financial planners can help people create ef fective long-term financial plans, and they also can be vital resources for people who need help managing their money every day
· Planners can look at things from an unbiased perspective. An honest assessment of monthly expenses is essential when creating a monthly budget However, many people tend to be biased when it comes to their monthly expenses. For example, some may feel that three streaming service subscriptions are something they cannot live without That can make it dif ficult to trim some of the fat from their monthly expenditures. A financial planner will be gin by examining your monthly expenses and may or may not make unbiased suggestions re-
garding where you can save
· Planners have the time. The average household is a hectic place. Adults with commitments at work and home often cite a lack of time as one of the reasons they aren't more on top of their finances A 2018 survey from Bankrate com found that 16 percent of respondents aren't saving more money because they haven't gotten to it. Financial planners have the time to help clients save, and over time a planner can be an expense that pays for itself if families are saving more as a result of enlisting the services of a planner.
· Planners have the expertise many people lack. One of the reasons people struggle financially is that it can be hard to navigate the world of investments, insurance and taxes Planners have the financial literacy necessary to navigate those waters successfully and can help people realize both their short- and long-term financial goals
According to Lincoln Heritage Funeral Advantage, the average funeral costs between $7,000 and
states that sometimes insurance policies become invalid if payments have not been made Poli
a week of a person's death, it's unlikely that surviving family members will be able to finance funer
appropriate measures if it is not Individuals may want to consider burial insurance or preneed
AdultDayprogramsarecommitted to helpingadults,ages 18 andolder,with disabilities,chronicillnessandeldersremainrespectedcommunityandfamily members.Someone 18 years or older,whocannot be safelyleftalone,structuretheir own dailyactivities, or experienceanxietywhen no else is around,willbene tfrom AdultDayservice.Thepeerinteractionandemotionalsupporthelpsthem as well as relievingtheircaregivers.Tothisend,adultdayservicesworkwithparticipantsand theirfamilies to developindividualgoalplansthatoptimizeparticipants’abilitiesand strengthsandre ecttheirphysical,emotionalandspiritualneeds.
Thefastestgrowingsegment in the US population is adultsover60.Consequently, increasingnumbers in ourcommunity ndthemselves in therole of caringforaloved one,spouse,parent,sibling or friend.Theburden of caregivingcan be overwhelming, oftenforcingindividuals to makethedif cultchoice of institutionalizingtheirlovedone or quittingtheirjob in order to providethempropercare.AdultDayprogramsserve as adayrespitecenterforfamiliesandcaregivers.Caregiverscanremainemployed, safe in theknowledgethattheirlovedone’sneedsarebeingmet.AdultDaysprovide caregiverswiththeneededsupport,outreachandeducationthatenablesthem to providequalitycareathome.
Adultdaycare,alsoknown as adultdayservicesgivesadultsindividualized therapeutic,socialandhealthservicesforpart of theday.For adultswithphysical and/orcognitiveimpairments,thesecentersprovideacoordinatedprogram of professionalandcompassionate services in acommunity-basedsetting.Servicesare designed to providesocialandsomehealthservices to adultswhoneedsupervised care in asafeplaceoutside of thehomeduringtheday.For theirfamilies,theyoffer respitefromthedemandingresponsibilities of caregiving, as well as providesupport andeducation.Adultdaycentersgenerallyoperate duringnormalbusinesshours ve daysaweek.
Althougheachfacilitymaydiffer in terms of featurestherearegeneralservicesthat areofferedatmostadultdaycenters:socialactivities,transportation,mealsand
snacks,personalcare,andtherapeuticactivities. In general,therearethreetypes of adultdaycenters:Social-providesmeals,recreationandsomehealthrelated services,Medical/health-providessocialactivities as well as moreintensivehealth andtherapeuticservices,andSpecialized-providesservicesonly to speci ccare recipients,such as thosewithdiagnoseddementias.
Locally, in order to meettheneeds of thecommunityAdultDayservicesarea combination of thethreetypeslistedabove.Theseadultdaysareaplatformfor socialization,chronicdiseasemanagement,medicationmanagement,nutrition support,community-basedcareforindividualswithAlzheimer’sdiseaseandother dementias,and an essentialsupportforfamilycaregivers.
Adultdayservicesarelessexpensivethanhomecare,assistedliving or nursinghome care.Newevidencesuggeststhatadultdaycarecanimprovehealthrelatedquality of lifeforparticipants. In addition,theyareacosteffective in improvingcaregiver well-beingandreducingburden,roleoverload,worry,angeranddepression.Persons maypayforadultdayservicesprivately. In Vermont,Medicaidwillpay towardadult dayservices.Long-termcareinsurancemaycoveradultdayprogramsandsome nancialassistance is availablethroughgrants.
It helpsforadultswithdisabilitiesandelders to frequentadultdayprogramswhilethey canfullyenjoytheactivitiesandsociallife As their abilitiesandneeds change,this ensuresthattheyarefamiliarwith the settingandallthehealth,socialandsupport servicesavailable.Mostimportantly they feelengaged,comforted,andcaredfor.
If youareinterested in learningmoreaboutadultdayprograms,touring or scheduling avisit,pleasecontactThe GatheringPlace,withsiteslocated in Brattleboroand WestDover,Vermont.
MaggieLewis info@gatheringplacevt.org 8022546559
