This August 15 th, a Wednesday, I’m teaming up with Brian Robertson of Willamette Investment Advisors to discuss the “Challenges of Financial Planning and Investing as You Age”. This free event will be held at the Corvallis Public Library from 10 am to 11 am and is sponsored by Regent Court Memory Care.
Healthcare planning is an integral part of financial planning and is getting some well deserved attention. Many people are unprepared for life’s unexpected events. The emotional stress and the ability to make wise decisions can be difficult. And even when you think you’re prepared, there is always the unexpected that throws you off. Many people find the topic hard to talk about and even more difficult to share with your children, no matter their age. However, it never hurts to get the conversation started. The easiest place to start putting the pieces together is with your financial planner.
Not only is it important to be invested accordingly, you also need to have a plan in place as you age. A plan should never be static and it’s vital to have a thorough review every few years. Tasks such as checking beneficiaries on all contracts (retirement plans, annuities and life insurance), ensuring you have durable powers of attorney for health care, and having proper documentation are just a few of the things to look at. Medicare doesn’t cover custodial care and may not cover everything you need.
These are a few of the items we will discuss, as well as how to be prepared.