The Elderly and Aging In America

Growing Old is Painful

My 62 year old co-worker, John, fell after tripping on some uneven concrete sidewalk and broke both shoulders. John has to lay in the bed for the next 3 weeks. He can’t eat or even care for his most basic of bodily functions until he heals. John isn’t fortunate to have family close by or friends that aren’t working who could care for him so he’s having to rely on his elderly aunt for primary care. All I can do is shake my head in wonder and ask myself “What happens to people when they don’t have anyone to care for them?” John’s story is not new or unique.

“What happens to people when they don’t have anyone to care for them?”

I remember when grandma experienced several mini-strokes that left her paralized on the right side. Coupled with growing forgetfullness and inability to cook, clean, or drive, My dad and aunt were forced to seek “alternatives” to grandma living alone. After some discussion it was thought the best thing would be for grandma to stay in her home but with “help”. “Help” came in the form of a lady named Susan who would stay with grandma daily from 8 AM until 8 PM with Saturday and Sunday off. Neither Medicare or any insurance would pay for this service so the children split it 50/50. This situation continued for 4-5 months placing a huge strain on both families to pay for this level of care. Their only alternative was a nursing home and none of us could get over the emotional hump of placing grandma there.

The sad truth about all of this is good care costs money – money most of us do not have and will never have. Unfortunately, by the time we reach Grandma’s and John’s age, we will not enjoy financial security but rather a reliance on a small pension and social security.

So what can really be done?

Start saving as much as you can as early as you can. Put your money in “safe” investments or seek professional help. This money will come in handy later in life for one emergency or another.
Become knowledgeable about “long term care insurance” or “nursing home insurance”. I don’t know anyone with this insurance but the people I know are interested in knowing more about it and possibly purchasing. Supposedly they are monthly payment guarantees to assisted living, nursing homes, etc. paid on your behalf to help with the costs. I’d rather have the insurance than have to sell all my possessions until the government payments kick in.
Be ready to depend upon your family. Hopefully they will be able to care for you in some manner. You’ve helped them through life. It may be time for them to help you. Often a family member “looking in” on an elderly parent or sibling is enough to postpone entry into an assisted living center or nursing home. It may mean moving into a family member’s guest room for a while.
Consider selling some assets before you need the money. For example, you may want to sell your home and scale down to a less expensive living arrangement or location. You may even need to sell the car.
Keep your medical insurance active.
Stay as healthy as you can through exercise, activity, and diet.