{"id":1122,"date":"2011-07-01T06:42:38","date_gmt":"2011-07-01T06:42:38","guid":{"rendered":"http:\/\/mrms-inc.com\/?p=1122"},"modified":"2021-11-05T02:30:42","modified_gmt":"2021-11-05T02:30:42","slug":"personal-finances","status":"publish","type":"post","link":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/","title":{"rendered":"Are You A Sandwich Generationer? Part 2"},"content":{"rendered":"
\n
\n

Helping your Parents With Their Personal Finances<\/h1>\n

Like last month, you woke up a bit early today, now you are trying to figure out how you can get mom to her 3:30 pm doctor\u2019s appointment and see your son\u2019s school baseball game at 4:00 pm. Life today is active, especially for women aged 45 \u2014 56 who care for both their parents and children. This is the second of a six-part series for these people caught in the \u201csandwich generation\u201d.<\/p>\n

When you get home from the ballgame, it is time to go through your parent\u2019s monthly bills. This is just one of the tasks when dealing with the medical bills, investments, and how best to make their money last. The following are several key components to help make the best outcome out of your parent\u2019s situation:<\/p>\n

Public and Private Programs \u2014 Know what your parents\u2019 insurance plans will do for them. Do they have long-term care insurance? If so, meet with their agent and see what triggers the benefits to be paid? Is it now time to plan for Medicaid for mother or father? The answer is most likely: YES. Gather information, you know your options and how best to protect your parents. The same applies to Estate planning and how your parent\u2019s assets may pass after their death. These areas blend into the legal issues which also should be addressed with an attorney specializing in these areas.<\/p>\n

If one of your parents is a Veteran and served during wartime, they may qualify for a little-known pension named the \u201cAid & Attendance Pension\u201d. This pension pays up to $1948 monthly for unreimbursed medical expenses such as home care, assisted living, or nursing home. We have found this pension to be a Godsend for those who qualify. Was your parent a veteran during WWII, Korea, or Vietnam? They did not need to be in that country, only serve during that time period. It is said that 2 million people qualify for this pension, but do not know about it.<\/p>\n

A reverse mortgage can also be used to help with expenses. Basically, a monthly income is paid based on your parent\u2019s equity in their home and the equity in the home is lowered with each payment. Be careful here.<\/p>\n

Insurance Planning \u2014 know how your parent\u2019s health insurance plans work. Do they have a PPO? Talk with a qualified insurance professional about their coverage. Ask questions such as is nursing home or home health care is covered. Can my parent go to Mayo Clinic or Iowa City if they wish? How much can I expect to pay out of pocket per year?<\/p>\n

Have they prepaid their funeral expenses or do they have life insurance? Are the beneficiary arraignments correct on the life insurance? Should they have life insurance? Maybe there is no need.<\/p>\n<\/div>\n<\/div>\n

\n
\n

Investment Security \u2014 confirm their investments are properly allocated. Are they vulnerable to losses? Do your parents depend upon the income generated for living expenses? Find out \u2014 this area is critical. If a person is dependent upon investment income, those investments should be in a conservative vehicle,<\/p>\n

Do your parents and\/or you need help managing their finances, even paying their bills? Trust departments can provide a service with security in this area. Also available are companies to assist you in bill paying.<\/p>\n

Coordinating care for your children and parents simultaneously is not easy. What can you do to manage this? Three words of advice: Plan, Plan, and Plan. Legal, financial, residential, mental, and physical healthcare elements must be addressed prior to a crisis. A sandwich generationer should guide their parent through these issues and the primary issue of safety while being careful not to take all control away from a parent. Once again, it is important to start talking, making suggestions, and guiding early, do not wait for a crisis.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Helping your Parents With Their Personal Finances Like last month, you woke up a bit early today, now you are trying to figure out how you can get mom to her 3:30 pm doctor\u2019s appointment and see your son\u2019s school baseball game at 4:00 pm. Life today is active, especially for women aged 45 \u2014 […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[28],"tags":[],"class_list":["post-1122","post","type-post","status-publish","format-standard","hentry","category-sandwich-generation"],"yoast_head":"\nThe Sandwich Generation - Your Parent's Personal Finances<\/title>\n<meta name=\"description\" content=\"Helping to manage your parents' personal finances can be challenging when trying to manage your own but this article will help to give you some direction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Sandwich Generation - Your Parent's Personal Finances\" \/>\n<meta property=\"og:description\" content=\"Helping to manage your parents' personal finances can be challenging when trying to manage your own but this article will help to give you some direction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/\" \/>\n<meta property=\"og:site_name\" content=\"Living By Your Design, Inc\" \/>\n<meta property=\"article:published_time\" content=\"2011-07-01T06:42:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-05T02:30:42+00:00\" \/>\n<meta name=\"author\" content=\"StrategyPlus\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"StrategyPlus\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/2011\\\/07\\\/01\\\/personal-finances\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/2011\\\/07\\\/01\\\/personal-finances\\\/\"},\"author\":{\"name\":\"StrategyPlus\",\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#\\\/schema\\\/person\\\/e38ba55307916179ee36fb9d6a8d950e\"},\"headline\":\"Are You A Sandwich Generationer? Part 2\",\"datePublished\":\"2011-07-01T06:42:38+00:00\",\"dateModified\":\"2021-11-05T02:30:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/2011\\\/07\\\/01\\\/personal-finances\\\/\"},\"wordCount\":645,\"publisher\":{\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#organization\"},\"articleSection\":[\"Sandwich Generation\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/2011\\\/07\\\/01\\\/personal-finances\\\/\",\"url\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/2011\\\/07\\\/01\\\/personal-finances\\\/\",\"name\":\"The Sandwich Generation - Your Parent's Personal Finances\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#website\"},\"datePublished\":\"2011-07-01T06:42:38+00:00\",\"dateModified\":\"2021-11-05T02:30:42+00:00\",\"description\":\"Helping to manage your parents' personal finances can be challenging when trying to manage your own but this article will help to give you some direction.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/2011\\\/07\\\/01\\\/personal-finances\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/2011\\\/07\\\/01\\\/personal-finances\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/2011\\\/07\\\/01\\\/personal-finances\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Are You A Sandwich Generationer? Part 2\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#website\",\"url\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/\",\"name\":\"Living By Your Design, Inc\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#organization\",\"name\":\"Living By Your Design, Inc\",\"url\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/cropped-logo-background.png\",\"contentUrl\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/cropped-logo-background.png\",\"width\":414,\"height\":138,\"caption\":\"Living By Your Design, Inc\"},\"image\":{\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/#\\\/schema\\\/person\\\/e38ba55307916179ee36fb9d6a8d950e\",\"name\":\"StrategyPlus\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ecbbfc6cef94d0a26fc49ef52c477d4b2e54e3639f8653d835a0d93397af65c0?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ecbbfc6cef94d0a26fc49ef52c477d4b2e54e3639f8653d835a0d93397af65c0?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ecbbfc6cef94d0a26fc49ef52c477d4b2e54e3639f8653d835a0d93397af65c0?s=96&d=mm&r=g\",\"caption\":\"StrategyPlus\"},\"url\":\"https:\\\/\\\/www.livingbyyourdesigninc.com\\\/index.php\\\/author\\\/strategyplus\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Sandwich Generation - Your Parent's Personal Finances","description":"Helping to manage your parents' personal finances can be challenging when trying to manage your own but this article will help to give you some direction.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/","og_locale":"en_US","og_type":"article","og_title":"The Sandwich Generation - Your Parent's Personal Finances","og_description":"Helping to manage your parents' personal finances can be challenging when trying to manage your own but this article will help to give you some direction.","og_url":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/","og_site_name":"Living By Your Design, Inc","article_published_time":"2011-07-01T06:42:38+00:00","article_modified_time":"2021-11-05T02:30:42+00:00","author":"StrategyPlus","twitter_card":"summary_large_image","twitter_misc":{"Written by":"StrategyPlus","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/#article","isPartOf":{"@id":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/"},"author":{"name":"StrategyPlus","@id":"https:\/\/www.livingbyyourdesigninc.com\/#\/schema\/person\/e38ba55307916179ee36fb9d6a8d950e"},"headline":"Are You A Sandwich Generationer? Part 2","datePublished":"2011-07-01T06:42:38+00:00","dateModified":"2021-11-05T02:30:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/"},"wordCount":645,"publisher":{"@id":"https:\/\/www.livingbyyourdesigninc.com\/#organization"},"articleSection":["Sandwich Generation"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/","url":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/","name":"The Sandwich Generation - Your Parent's Personal Finances","isPartOf":{"@id":"https:\/\/www.livingbyyourdesigninc.com\/#website"},"datePublished":"2011-07-01T06:42:38+00:00","dateModified":"2021-11-05T02:30:42+00:00","description":"Helping to manage your parents' personal finances can be challenging when trying to manage your own but this article will help to give you some direction.","breadcrumb":{"@id":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/2011\/07\/01\/personal-finances\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.livingbyyourdesigninc.com\/"},{"@type":"ListItem","position":2,"name":"Are You A Sandwich Generationer? Part 2"}]},{"@type":"WebSite","@id":"https:\/\/www.livingbyyourdesigninc.com\/#website","url":"https:\/\/www.livingbyyourdesigninc.com\/","name":"Living By Your Design, Inc","description":"","publisher":{"@id":"https:\/\/www.livingbyyourdesigninc.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.livingbyyourdesigninc.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.livingbyyourdesigninc.com\/#organization","name":"Living By Your Design, Inc","url":"https:\/\/www.livingbyyourdesigninc.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.livingbyyourdesigninc.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.livingbyyourdesigninc.com\/wp-content\/uploads\/2021\/11\/cropped-logo-background.png","contentUrl":"https:\/\/www.livingbyyourdesigninc.com\/wp-content\/uploads\/2021\/11\/cropped-logo-background.png","width":414,"height":138,"caption":"Living By Your Design, Inc"},"image":{"@id":"https:\/\/www.livingbyyourdesigninc.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.livingbyyourdesigninc.com\/#\/schema\/person\/e38ba55307916179ee36fb9d6a8d950e","name":"StrategyPlus","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/ecbbfc6cef94d0a26fc49ef52c477d4b2e54e3639f8653d835a0d93397af65c0?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ecbbfc6cef94d0a26fc49ef52c477d4b2e54e3639f8653d835a0d93397af65c0?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ecbbfc6cef94d0a26fc49ef52c477d4b2e54e3639f8653d835a0d93397af65c0?s=96&d=mm&r=g","caption":"StrategyPlus"},"url":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/author\/strategyplus\/"}]}},"_links":{"self":[{"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/posts\/1122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/comments?post=1122"}],"version-history":[{"count":1,"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/posts\/1122\/revisions"}],"predecessor-version":[{"id":18059,"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/posts\/1122\/revisions\/18059"}],"wp:attachment":[{"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/media?parent=1122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/categories?post=1122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.livingbyyourdesigninc.com\/index.php\/wp-json\/wp\/v2\/tags?post=1122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}