The Sandwich Technology: Ideas from the Center
by Tim Melia, Embolden Monetary Planning
Whats up, my title is Tim. I’m in my forties. I’m fortunately married with children. My mother is a widow in her eighties, and my in-laws are of their seventies. My spouse and I are bona fide members of the sandwich technology!
In the event you haven’t heard the phrase “sandwich technology,” let me begin with somewhat background. This phrase was coined by two girls, Dorothy Miller and Elaine Brody, in 1981, and refers to a gaggle of people who’re concurrently caring for each their getting old dad and mom and their younger youngsters. The Pew Analysis Heart profiles the sandwich technology as adults “who’ve a dwelling dad or mum age 65 or older and are both elevating a baby underneath the age of 18 or supporting a grown little one.” Usually, it consists of adults of their 40s or 50s.
Technology X, born between 1965 and 1980, is totally certified to name itself the sandwich technology. Please welcome Technology Y, aka the Millennials, who’re simply becoming a member of us, having been born beginning in 1981.
Say it collectively now: “Whats up, our title is Technology X and Y, and we’re within the sandwich technology.”
The monetary challenges Generations X and Millennials face from the center of the sandwich are many. In my very own life, my spouse and I are coping with questions and issues concerning:
- Our Dad and mom
- Our Children
- Ourselves
- Communication with Dad and mom
- Communication with Children
- Communication with Spouses and Companions
The Happiness Curve, Sandwich Blues and Alignment
by Mike Davidoff, MND Wealth Administration
One of the vital essential books that I learn in my early 40’s was Jonathan Rauch’s “The Happiness Curve: Why Life Will get Higher After Midlife.”¹ I used to be on the lookout for solutions on why midlife felt so merciless and unforgiving throughout a troublesome stretch in my life.
My father had not too long ago handed away unexpectedly, and my father-in-law was identified with an incurable mind tumor across the identical time. I used to be navigating a tense job scenario, as my firm was going through a essential reorganization as a consequence of adjustments in our senior management and the trade at massive.
My children have been eight and 10 years previous on the time. I wanted to be emotionally current for them, however I used to be making an attempt to navigate my grief and stress on prime of the monetary pressures given the uncertainty that my firm was going through. I wanted to be sturdy for my spouse who was grieving her personal father’s sickness, and for my mom who was now a widow. It was a heavy interval.
My story shouldn’t be distinctive to most of us within the Sandwich Technology; it simply occurred to me in a condensed time frame. Now that I’m just a few years faraway from this troublesome part, I’ve gained important life expertise and perspective. I really feel that I’m stronger, wiser and battle examined for the inevitable future challenges that life will carry me.
The concept of the Happiness Curve is that our lifetime happiness is formed like a U curve. We’re typically pleased in childhood and our younger grownup years as we’re bold, energetic and optimistic (and let’s face it, a bit naïve). We then undergo an extended interval of declining happiness in our 30’s and our 40’s as emotional and monetary pressures mount. That is usually because of the juggling act of busy work schedules, elevating children and caring for getting old dad and mom. As well as, as we hit our 40’s, we could really feel remorse for issues in life we didn’t obtain, in addition to disappointment once we examine ourselves to others who seem extra profitable, wealthier and happier. Social media solely provides an additional kick to the non-public elements.
Persevering with Care Retirement Communities (CCRC) Can Be Tax-Deductible! Discover Out How To Save on Taxes
by Quentara Costa, POWWOW
Lots of my elder care plans are associated to choosing the proper retirement group. And a few of these communities are persevering with care retirement communities, often known as CCRCs. A CCRC differs from conventional retirement communities a handful of how.
- They are typically on a bigger campus-like setting.
- Residents typically get pleasure from extra membership and journey choices, in addition to facilities (like a pool).
- They aim unbiased seniors who don’t instantly want elder-care providers.
- As soon as care is required, they not solely have assisted dwelling and reminiscence care, however usually supply rehab and expert care providers on campus as nicely.
- They typically have a big “buy-in*” which for some can instantly decide the affordability of this feature. The phrases of the buy-in range between every group.
- Since you’re “buying-in” you often have the chance to customise your condo by selecting most well-liked flooring, paint coloration, countertop, window remedies, and extra previous to move-in (this considerably relies on your willingness to pay additional and the situation of current supplies).
*Many individuals seek advice from the upfront payment as a buy-in, however it’s additionally described as an entry payment or deposit. You’re actually leasing the unit, not shopping for it, which is why I’m quoting the phrase. Usually, if any refund is due it’s based mostly on what was paid in, not it’s eventual worth. The timing of any refund could also be delayed till the unit is totally vacated and leased to a brand new resident.
Now that we’ve coated what a CCRC is, I’m going to debate the way you might be able to save a bit on taxes if contemplating this model of group. You might doubtlessly be capable of deduct a portion of the preliminary buy-in and ongoing lease.
I’ve checked out many CCRCs regionally and all through the nation. Whereas they’re roughly the identical as described above, all of them differ a bit in how they ultimately ship and cost for care. And that is the primary willpower for tax-deductibility. The second willpower is said to your personal monetary circumstances.
Second Opinions: When To Name a Physician vs a Medical Advocate
by Quentara Costa, POWWOW
I am questioning my analysis and therapy choices…
You could have not too long ago acquired a analysis or therapy choice that’s maintaining you up at night time. Earlier than panicking, possibly the following greatest step is getting a second opinion or search out the opinion of a specialist.
Causes for a second opinion embody, however usually are not restricted to:
- Therapy proposal was positioned as normal however usually ineffective.
- Therapy proposal is leading edge however dangerous. A bit past your consolation zone.
- Therapy proposal is dear and never coated by insurance coverage.
- Prognosis is critical however considerably unsubstantiated, it’s a “greatest guess.”
- Prognosis is critical however signs could be attributed to different points.
- Prognosis appears right however there a many alternative faculties of thought for therapy.
For my part these kinds of questions warrant a health care provider’s second opinion, and there are just a few avenues to realize this…
First is solely asking your physician for a advice to obtain a second opinion. Your physician *ought to* welcome the concept of a second opinion to verify their findings. My concern, personally, can be they seek advice from somebody too like-minded. However you might be clear that you simply’re on the lookout for medical doctors which have a unique strategy if that’s what you’re in search of. The second is to work via insurance coverage, associates, or networks to search out nicely revered and coated medical doctors throughout the discipline. The third, if financially possible, is to rent a concierge physician to completely overview your medical historical past and develop a strategic plan on the right way to transfer ahead. That is all completely affordable, particularly when making an attempt to agency up a analysis or pursuing identified therapy choices that your preliminary physician isn’t recommending. Usually talking, I discover this total state of affairs the way in which my youthful shoppers (and self) assume as a result of well being scares are typically preventative, non-life threatening, or pretty routine.
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