Pat Kelly of WEMJ invited Meg Miller, Executive Director of Peabody Home in Franklin, back to his weekly Open Mic on January 20, 2017 to continue the discussion on planning for elder care from a financial aspect. Miller, spoke about taking the ‘doom and gloom’ out of financial planning for future care by making it a project; start a spreadsheet and document your options – where you toured, what you liked, what your needs are. Take advantage of free services available when making a financial plan. Local entities, such as Independent Financial Advisors at Franklin Savings Bank and local senior centers are excellent resources to start the planning.
Meg advised to let the elder’s make their own choices – they are adults – start the conversation before they are unable to communicate their wishes. The more PLANNING that is done, the less uncomfortable things become. It’s imperative to select a Power of Attorney that knows you well and what your wishes are. The POA does not have to be family member and should be someone younger that can help you navigate on your behalf.
Aging does not mean you are sick; it can be an exciting time with new experiences, new friends, and new beginnings. Miller encourages people to call her directly if they are uncertain on how to begin. Tune in again February 3rd at 9am for more of the conversation discussing the topic of Medicaid and Medicare – what each one actually is and what each one does and does not cover as you age. For more information, visit peabodyhome.org or call Meg at 934-3718.