DECEMBER 2023 - 1
Navigating the Nuances: A Guide for Financial Caregiving
D E C E M B E R 2 0 2 3
The American population is aging. As of 2019, just over 16% of the population was 65+. By the year 2040, over 20% of the U.S. population will be 65 years of age or older. The number of Americans 80 years of age and older is expected to double by 2024. As our population ages, we must consider how to care for our loved ones. As the numbers of older Americans increases, so do the responsibilities of providing care for our loved ones. When we think of caregiving, we see an image of providing physical care. We imagine offering water with medication or helping with bathing or dressing. We think of taking a mother to a doctor’s appointment or driving dad to his weekly physical therapy. But caregiving includes much more than physical tasks; we also provide emotional support for loved ones. We listen, find mental health care and spend time with loved ones to help assuage loneliness and provide connection. However, the responsibility of caregiving often extends beyond physical and emotional support to include other areas of support like financial care. Many adult children find themselves in a challenging position of providing financial support as parents age and can no longer navigate their finances themselves.
continued on page 6 ASK THE EXPERT: HELPFUL RESOURCES FEATURE: NAVIGATING THE NUANCES: A GUIDE FOR FINANCIAL CAREGIVING RECIPES: HOLIDAY BRUNCH IDEAS DENTAL HEALTH: IMPORTANCE OF A HEALTHY MOUTH