The Rapidly Growing “Sandwich” Generation

Are you part of the “Sandwich Generation”? No, we’re not talking about a generation of people that like to eat sandwiches, it’s a newer growing group of individuals that are facing sometimes insurmountable challenges. This group is tasked with not only raising their own children, but also providing care for their elderly parents at the same time.

According to Pew Center for Research in January 2013, nearly half (47%) of adults in their 40s and 50s have a parent age 65 or older and are either raising a young child or financially supporting a grown child (age 18 or older). And about one-in-seven middle-aged adults (15%) is providing financial support to both an aging parent and a child.

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Members of the sandwich generation are oftentimes pulled (or yanked) in many different directions. The result is a mental, emotional, and financial toll that can be extremely difficult to deal with. Oftentimes, these individuals are working full-time trying to juggle the roles of several people combined. With all the added responsibilities of caring for an elderly parent can come burn-out, exhaustion, insomnia, and many other stress-related illnesses.

Here are some helpful tips to help reduce manage the added responsibilities:

◾Carve out a block of time each week to participate in a hobby or interest that is relaxing and can help you rejuvenate

◾Plan meal and schedules ahead of time to help alleviate stress

◾Talk to siblings or other family members that might be able to help go shopping, run errands, or provide companionship to your parents

◾Find a home care company that can help provide short-term “respite” care to give you a little break each week.

Enriched Life Home Care Services is available to help provide short-term/long-term and part-time/full-time care for your aging parent. We understand the importance of having someone there when you cannot be and hope you will contact us should you need assistance in the future.

Enriched Life Home Care Services  |  www.ELHCS.com

The Value of a Caregiver Support Group

Are you caring for a loved one or friend that is ill or has a disability? If so, then you join the group of over 75 million unpaid caregivers to someone 18 or older who is ill or has a disability – according to the Centers for Disease Control.

Many caregivers are holding down full time jobs and caring for their own children and sacrificing time for much needed rest, relaxation, and rejuvenation. They are “unsung heros” that are devoted to helping out without the benefit of a paycheck or oftentimes even a thank you. In addition, they may be left feeling that no one understands the responsibilities or pressures they are going through and have no place to turn.

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With a support group, caregivers can be part of a forum of others going through similar circumstances to help ease some of the stress that comes from helping out others. Some of the benefits of a Caregiver Support Group include:

  • Offering an outlet to discuss worries, concerns, and struggles as a caregiver
  • Learn more about professional organizations that can provide community support for free
  • Meet new friends that can empathize with your situation and offer helpful suggestions
  • Offer helpful suggestions on how to manage time and resources

It can be very comforting being part of a group on people that are going through what you are at the same time. They can truly understanding what you are feeling and become a friend in time of need.

Enriched Life Home Care Services is committed to bringing awareness to importance and role of caregivers – both paid and unpaid. We are hosting a series of Caregiver Support Groups in the South Eastern Michigan Area to do just that. Please feel free to give us a call at 734-744-6477 to learn more.

Enriched Life Home Care Services  |  www.ELHCS.com

Seniors Suffering from Seasonal Depression

The changes in temperature and seasons can be a warning sign for aging seniors being affected by Seasonal Affective Disorder (SAD).

SAD is a type of depression that comes as a result of the reduction of sunlight coming from shortened days. Be sure to pay extra careful attention to your loved ones during this time of year to notice changes in their behavior such as: fatigue during the daytime, sadness, weight gain, lack of desire to participate in activities, or suicidal thoughts.

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Should you believe they are affected by SAD below are some recommendations to help reduce the effects of this type of depression:

Exercise – Regular daily exercise will help keep energy levels high to help ward off depressive thoughts and feelings.

Volunteer – If they are able, taking some time out to help someone in need will not only get them out of the house, but is good for the soul.

Get Sunlight – Take a break throughout the day to go outside and get some direct sunlight to increase vitamin D levels. Vitamin D supplements can also be taken to help keep levels high during winter months when it is difficult to be outside for extended periods of time.

Speak to a Doctor – If the symptoms are amplified or if you are concerned for their safety, do not hesitate to seek advice from a medical professional.

At Enriched Life Home Care Services, we offer in-home care services to help provide your loved ones with much needed personal care and companionship services. Our services can help reduce the effects of seasonal depression by being their when family members are not able to be there.

 Enriched Life Home Care Services LLC  |  www.ELHCS.com

 

 

 

Helping Aging Parents with Money Matters

It’s all too common these days that people in their 50s and early 60s notice their elderly parents having trouble with memory loss and with handling finances. In fact, one in eight Americans 65 and over and 43 percent of individuals 85 and over have Alzheimer’s disease.

Financial advisors and accountants say elderly parents and adult children alike are too slow to seek or provide help in the early stages of decline. Denial is part of it. Hoping to stay independent, parents may minimize their difficulties. Adult children hesitate to step in and help out and oftentimes ignore warning signs.

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Reporting in Smart Money, Kathleen Michon, an attorney and editor at Nolo, a provider of legal information and products, says the damage can be dire: closed accounts, damaged credit, money lost to scam artists, even foreclosure.

A mailbox stuffed with donation requests, checkbook mistakes, unpaid bills, and desks and drawers that were once neatly organized now scattered with paperwork, are all signs that help is needed.

Don’t try to suddenly step in and take over. To ease into their financial affairs, begin by offering help with such matters as filling out insurance claims, helping to adjust property tax bills or checking credit card statements.

Enriched Life Home Care Services is passionate about educating families and bringing awareness to issues facing aging loved ones. We are here to help answer questions that may arise as you are caring for your loved ones.

www.ELHCS.com  |  Enriched Life Home Care Services

How to Get the Right Long-Term Care Insurance Policy

Don’t grow old without it …

Long-term care insurance is getting more expensive and complicated. It’s also harder to get.

The insurance is now not very profitable for insurance companies. People are living longer, which drives up costs. Interest rates on investments are low, which makes it harder for companies to profitably invest premiums.

Some insurance companies are no longer offering the insurance.

273/365: 09/30/2013. Money, Money, Money!

peddhapati / Foter / CC BY

It pays to shop around for long-term care. The American Association for Long-Term-Care Insurance says coverage that is nearly identical to a few years ago can cost almost twice as much today. For a $150 daily benefit lasting three years for a married couple age 65, one company charges $317 a month, while another charges $594.

Besides age and health, the three factors with the most impact on premiums are: the daily benefit, the length of coverage, and the inflation protection you choose.

One insurance broker says, “The new reality is, something is better than nothing. Get what’s affordable and sustainable.”

If you select $250 a day for three years, you would have an “expense pool” of $273,750 ($250 x 365 x 3). If you use less than $250 a day, the pool of funds would stretch longer than three years.

Insurance experts say inflation protection is the most crucial part of a policy. People in their 50s and 60s need to make sure their coverage keeps up with costs. Age 80 is typically when people make their first claims.

The most expensive and most widely recommended inflation factor is 5 percent per year. Your pool of $273,343 would grow to $726,343 in 20 years.

You can also choose cash and flexibility. A few insurers offer policies with cash benefits up to half your monthly allowance and require no receipts. You need documentation from the doctor saying you require help with at least two “activities of daily living.” With the cash option, you can hire family members to care for you or even move to a resort. Most long-term care policies will only pay for home care if given by a person with a nursing degree.

According to The Wall Street Journal, some retirees are turning to permanent life insurance policies and deferred fixed annuities packaged with long-term care benefits. They avoid the risk of spending their entire savings on nursing care. When the limits of long-term-care are reached, bills are paid from the life insurance or the annuity. Whatever is left goes to the beneficiary upon the policy holder’s death.