Resources For Seniors

Ten Warning Signs of Alzheimer’s

Ten Warning Signs of Alzheimer’s

Ten Warning Signs of Alzheimer’s

Ten Warning Signs of Alzheimer’s

 

The NBN Group located in Cherry Hill, New Jersey is dedicated to delivering world class comprehensive home care services including, skilled nursing, respiratory equipment and therapists,  infusion and pharmacy services, and behavioral programs. It is our belief that by having all home care services originate from one company, superior coordination of care is provided and ultimately better patient outcomes are achieved.

 

1) Does your loved one seem to have more and more problems remembering things which disrupts their daily life? Is it getting worse over time? This can sometimes be difficult to notice if you aren’t able to spend a lot of time with them, for example if you live on different coasts, and if this is the case, find someone who may live closer who might be able to better observe them.

2) When it comes time for you loved one to plan something, do they seem to have difficulty? Was your Mom always the one who could plan the birthday parties and Holiday celebrations and now seems to have problems dong so? Is your Dad suddenly having issues with simple household “fixes” he never had problems with before, unclogging a stopped sink or putting the screens up in the summer?

3) Related to this do they have problems with completing familiar tasks such as writing a grocery list or mailing a letter?

4) Have you noticed your loved one forgets what day it is or where they are? Do they think it is a time 10, 20 or more years ago? Do they think they are someplace they may have lived or visited when they were young?

5) Does your loved one look at a picture and seem to have trouble identifying what or who it is of? How about with spatial relationships, do they have trouble determining where one object, say a chair is in relationship to a table?

6) When you talk to your loved one are they having trouble saying or writing words that should be familiar to them? If your parent was always an avid reader do they now have trouble reading the newspaper? How about writing a grocery list?

7) Does your loved one have difficulty finding their way back home or even retracing their steps from one room to another? How about losing items more than what they normally do and not being able to remember where they were the last time they had the item?

8) How about trouble making simple decisions or making decisions which they never would have made in the past? Do they have a problem with determining whether something is right or wrong, something there never was a question about before?

9) Is your parent or loved one withdrawing from things like work or activities they used to love? Do they not want to go to the weekly card game at the Senior Center something they always looked forward to?

10) Have you noticed a change in the personality or mood of your parent, something not normal for them? Are they suddenly angry or even unusually happy, when they have always been the opposite?

Once again it is important to note that just because someone has one or more of these symptoms, doesn’t mean they necessarily have Alzheimer’s but they should consult with their doctor. As a loved one, you might have to take the initiative on this as the person may not want to admit they are having any problems or they don’t want “to be any trouble” and won’t go.

While there is yet no cure, Alzheimer’s can be managed and the patient can live comfortably for some time with it. Yes, there will need to be changes in their life styles, and yes, you may need to become a care giver for them, which can be difficult when you realize you now have to take care of the ones who took care of you, but then, isn’t that the least you can do?

Original post: ALZ.org

The Real Cost of Aging

The Real Cost of Aging

The Real Cost of Aging

 

The Real Cost of Aging

 

The NBN Group located in Cherry Hill, New Jersey is dedicated to delivering world class comprehensive home care services including, skilled nursing, respiratory equipment and therapists,  infusion and pharmacy services, and behavioral programs. It is our belief that by having all home care services originate from one company, superior coordination of care is provided and ultimately better patient outcomes are achieved.

 

It’s said that it costs about one million dollars to raise a child, but how much does it cost to age? No two seniors will face exactly the same challenges in aging, but by looking at approximations of the main expenses after 65, we can estimate how much it truly costs to grow old in America. 

Out-of-Pocket Medical Expenses

While every American who turns 65 qualifies for the government health insurance program Medicare, seniors can still accumulate significant healthcare costs during their retirement. Copays, prescriptions, hearing aids and other out of expense pockets can add up dramatically. In May, Fidelity Benefits Consulting estimated the average medical expenses for a 65 year-old couple to be $220,000 for the remainder of their retirement. This figure has actually gone down 8% since last year due to changes to Medicare instituted as part of the Affordable Care Act. Brad Kimler of Fidelity noted, “It is extremely important that health care costs are factored into retirement savings strategies today so that retirees can be prepared to pay their medical bills throughout retirement.”

Average lifetime costs after 65: $110,000 per individual / $220,000 per couple

Long-term Care Costs

A study published in the journal Inquiry found that the average American senior will require about three years of long-term care during his or her retirement. According to Genworth, the median annual cost for the base rent at an assisted living community is about $41,000 per year. The average annual cost for skilled nursing is about $71,000 per year. Because much long-term care is provided by unpaid family caregivers or is covered by Medicaid, the average senior’s lifetime out-of-pocket long-term care expenses are about $50,000 . But we do not advise that you based your assumptions on this amount. Chronic illnesses and age related diseases such as Alzheimer’s disease can easily require a senior (or the senior’s loved ones) to spend significantly more than this during their lifetime on care.

If you are trying to analyze potential care costs that your family may be facing, try A Place for Mom’s Cost of Care Calculator. It allows you to compare the cost of assisted living in your city to the costs of maintaining a home and also to the costs of employing a full-time home care aide.

Average lifetime costs after 65: $50,000 per individual / $100,000 per couple (based on figures from Inquiry study adjusted for inflation)

Living Expenses

While in retirement our income may drop dramatically, our expenses do not. According the Bureau of Labor Statistics, the average cost of living for an American is $20,194 per year (or $50,485 for the average household). This includes costs such as food, housing and transportation. The average lifespan in the United States is 79 years. This means a 65 year-old couple would require about $565,000 to cover their basic living expenses during retirement.

Unlike health-costs and long-term care costs, living expenses have an element of predictability to them. Rather than relying on nationwide average, retirees can estimate their own expenses based on their circumstances to get a closer picture of the amount of money required to cover their cost of living.

Average lifetime costs after 65: $282,000 per individual / $565,000 per couple

Overall Average Retirement Expenses

The sum of these three broad categories of retirement expenses allows us to gauge the overall cost of life after 65, which is $412,000 for an individual, or $824,000 for a couple. But don’t take this number as gospel. The real costs of aging are wildly unpredictable and depend on a number of “X-factors.”

X-Factors: Inflation and Rising Healthcare Costs

In a market economy, prices never stay stagnant for long. Retirement experts advise that seniors assume inflation will be at least 3% annually. At this rate of inflation, costs double every 24 years.

Inflation represents the average increase in all costs overtime, but health care costs are rising at a rate more rapid that inflation. While average healthcare costs for retirees decreased in 2012, the trend is for increasing healthcare costs overall. According to Insurance Journal, average out-of-pocket healthcare costs increased about 6% in 2012 and 12% in 2013.

What’s more, these figures are based on the largely unpredictable factor of lifespan. A longer lifespan means more costs. It’s not unreasonable to expect life-expectancy to increase with advances in medicine and technology, and as American society becomes more focused on healthy lifestyles. While the average life-expectancy of 79, most people hope to (and should plan to) live beyond 79.

No Retiree is Exactly Average

While these figures give us a good picture of what retirement may have in store for us, and the costs that a typical retiree faces, it’s important not to allow the word “average” or “median” to lull you into complacency. If the average 65 year-old couple’s health expenses are $220,000 during retirement, there is naturally a very good chance that such a couple would have more than $220,000 in expenses. Don’t assume that your expenses will be merely average. Plan for the unexpected and use averages and medians to reckon the minimum amount of preparation and saving that’s required to retire prudently.

If you are undertaking a project to estimate how much you or a loved one may need for retirement, you can base your estimates on your particular circumstances for a forecast that’s more accurate. Basing estimates of retirement costs on your own cost of living rather than the national average will obviously allow for more accurate estimates. You should also consider taking into account regional cost differences. For instance, a retirement in New England is obviously going to cost more than a retirement in the Desert Southwest.

An excellent tool to help with a personalized estimate of retirement costs is the AARP Retirement Calculator, but you don’t have to do it yourself: If you are unsure about your retirement plans, consider speaking with a financial advisor who has an expertise in retirement planning.

 

Original Article: A Place For Mom 

 

If you would like to learn more about how NBN Group can help you and/or your family, contact us!

 

 

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