Caring for aging parents--from establishing power of  attorney to investing wisely for catastrophic medical care to the  impact of role reversal--is going to be a grim reality for many  Americans. The statistics are scary: Two out of every three people  under 40 in the year 2000 will have to either assist or maintain an  elderly parent's lifestyle during that parent's life.  The old model  of relying on pensions or Social Security doesn't work anymore in the  New Economy. This means that the assumptions at the base of the  average American's financial planning no longer apply. Sons and  daughters caught in the ?sandwich? generation?between needy children  and frail parents?know that this surprising social change can be a  crippling financial burden.  People in early middle-age now need to  take a more aggressive role in the financial life of their mothers and  fathers, and then cope with the difficulty of switching traditional  roles with their parents.  With an actuary's eye for detail and a  caring son's attention to nuance, the author guides the reader through  the financial, bureaucratic and sociological thickets to a clear  understanding of what it takes to actually take care of mom and Dad!

Taking Care of Mom and Dad: The Mechanics of Taking Care of Your Parents in Their Time of Need PDF

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