Below are some highlights from the most recent APW Power Breakfast with Rebecca Eddy (co-founder, Eddy & Schein): "Preparing For Your Senior Years at Every Phase of Your Life"
- It's never too early to think about the future. The presentation handout listed more items for people in their 20s-30s than later age categories. Knowing that you are set up for unexpected challenges can bring peace of mind and prevent stress down the road. Several participants shared experiences of navigating legal, health, and financial obstacles while they were in the thick of life changes-- a repeated comment was "I wish I had known this when..."
- Do the math. Whether it's your 401K, IRA, or long-term care insurance, a financial planner can guide you through savings and investment options. The best policy won't be the same for everyone, but there are cost-optimizing solutions for every situation.
- Giving up some control does not mean giving up independence. In fact, getting help with little things can strengthen independence rather than take it away. For example, having someone check in each month to make sure rent checks are written can prevent payment lapses that lead to eviction.
- You are not alone. Informal support groups and professional resources are available in both planning for and reacting to changing needs. Despite how isolating it can feel caring for a loved one or facing your own struggles, others have been through it and more often than not are willing to lend an ear, provide advice, or share their own stories.
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