Even if you employ a properly licensed and credentialed geriatric care manager, it is highly beneficial for the family to know the people who interact with their family member. A professionally trained occasional visitor can give valuable insights, but friends and neighbors can provide more. So when clients visit their parents, encourage them to visit with their parents’ friends and neighbors a little, too.
The early days of one’s retirement are often the most active. This is the time many cross off some of the items on their “bucket list.” Increasingly though, retirees will find themselves traveling to visit aging family instead.
My mother usually didn’t feel she visited enough. Her parents’ condition was sometimes worse than she expected. My uncle would have a different perspective because he would see them regularly and change seemed more gradual. This difference highlighted the fact that my uncle was always there and my mom was not. Sometimes that made everyone feel lousy, even though it was accepted that that is how it had to be because no one could relocate.
There are no spreadsheets or Monte Carlo simulations that can address these issues. Yet, financial planners can be extremely valuable. Firms that can help clients find the help the client’s family needs will be supporting their clients in a way that has far more meaning than a well-managed portfolio ever could.
Dan Moisand, CFP, has been featured as one of the America’s top independent financial advisors by Financial Planning, Financial Advisor, Investment Advisor, Investment News, Journal of Financial Planning, Accounting Today, Research, Wealth Manager, and Worth magazines. He practices in Melbourne, Fla. You can reach him at [email protected]