Worried Someone You Know May Have Diminished Financial Capacity?

What are the early warning signs of dementia? That’s a question professionals who work in the financial services industry have increasingly asked me since AARP released a report, entitled Protecting Older Investors: The Challenge of Diminished Capacity, on protecting investors who have diminished capacity. The report raised awareness among many financial professionals concerned about the decision-making capacity of their clients. Just to give some sense of how much of a potential problem this is, there are about 41.5 million Americans age …

New Study Finds $522 Billion Cost of Caregivers’ Sacrificed Time

Family caregivers in the U.S. spend an estimated 30 billion hours per year caring for older family and friends. That’s about $522 billion in care, according to a new Rand Corp. study, as measured by valuing the time caregivers have sacrificed in order to be able to provide care. Replacing that care with unskilled paid care at minimum wage would cost $221 billion, while replacing it with skilled nursing care would cost $642 billion annually. An AARP study found nearly half of …

When Mom’s a Republican and Pop’s a Democrat

My mom was born in the same year that the 19th Amendment to the Constitution — giving women the right to vote — was ratified. She was a daughter of immigrant parents, who came to America in pursuit of freedom and opportunity. And my mom relished her right to vote. I have very early memories of walking with my mom, pop, brother and sister blocks to our polling place located at Outwater Park. It was a family tradition. I remember …

Caregiving Takes a Team

Ah — autumn! The crisp cool weather, the colorful leaves … and the smell of football is in the air. This time of year I’m reminded of the days of my youth when I spent countless hours watching my pop and brother practicing football in the backyard, watching high school games my brother starred in, and watching our beloved Buffalo Bills on TV. At a very young age, I was raised to be a football fan. In the years between …

How One Community Supports Its Hidden Heroes, Family Caregivers

As I drove from Billings, Mont., to Sheridan, Wyo., I saw a sign for “Buffalo 36 miles.” Then it occurred to me that something felt strangely familiar. I grew up in a town called Lockport, about 29 miles from Buffalo, N.Y. So I researched a bit more. Sheridan has a population of 17,800; 20,000 live in Lockport. Sheridan gets about 72 inches of snow a year; Lockport posts a competitive 69 inches. And though my hometown doesn’t have mountain ranges, …

Nurses Are Lifesavers

My pop, like many family caregivers, used his ingenuity to solve problems. This time, Pop was trying to figure out an easier way to help my mom out of her wheelchair and into bed. Pop was in his 90s, and anything would make it easier on him. So he rigged up a ramp from cinder blocks and particle board. If he could get her chair going at the right speed and right angle, he could run up the ramp and …