FAI Wealth Management recognizes that many people are thrust into caring for an aging parent without any preparation. They are often blind-sided by the complexity of eldercare services and are unprepared for the hidden financial risks and threats that the care giving role can pose.
COLUMBIA, Md. (PRWEB) April 12, 2018
FAI Wealth Management, a leading financial planning and investment management firm in the Baltimore-Washington region, has announced the release of its free e-book series, "Caring for Our Aging Parents." The e-books were developed by Mark Stinson, CPA, CFP®, MBA, Principal and Senior Advisor for FAI, in response to the dramatic rise in the number of older adults and subsequent growth of family members as caregivers. Designed as a free resource for the “sandwich generation” – those raising and supporting children and caring for aging parents — the three-part e-book series offers guidance and valuable information to help navigate life transitions experienced in one’s 60s, 70s, 80s and during end of life care.
As massive waves of Baby Boomers become seniors and people are also living longer, it’s creating an unprecedented growth dynamic. The statistics surrounding aging and caregiving in America* are staggering:
- The U.S. Census Bureau reports that by 2030, all baby boomers will be older than age 65. This will expand the size of the older population so that 1 in every 5 residents will be retirement age.
- For the first time in U.S. history, older adults are projected to outnumber children by 2035
- There are about 40 to 60 million caregivers in this country, about 29% of the U.S. population, providing assistance for a chronically ill, disabled, or aged family member or friend during any given year.
- 65% of older people with long-term care needs rely exclusively on family and friends to provide assistance.
- Approximately 66% of family caregivers are women. More than 37% have children or grandchildren under the age of 18 living with them.
*Source: *National Academies of Sciences, Engineering, and Medicine. 2016. Families caring for an aging America. Washington, DC: The National Academies Press.
FAI Wealth Management recognizes that many people are thrust into caring for an aging parent or disabled relative without any preparation. They are often blind-sided by the complexity of eldercare services and are unprepared for the expense. Many people are also largely unaware of the hidden financial risks and threats to their personal wellbeing that the caregiving role can pose. FAI’s compassionate team has guided hundreds of individuals and families in evaluating and implementing aging options that suit their unique needs. The firm’s seasoned professionals have decades of experience addressing the senior care and financial issues that may affect people and their elderly parents.
“Having experienced the loss of my parents, and having served as the primary caregiver for my father, I can truly relate to the challenges adult children face as our parents age,” says Stinson. ”It’s our goal at FAI to provide be a trusted sounding board and to help each of our clients make the best decisions for their specific situation. This new e-book series is the latest example of the supportive information we offer to help people successfully navigate life’s many transitions.” To download a free copy of the “Caring for Our Aging Parents” resource guide series, please visit https://www.faiwealth.com/aging-parents.
About FAI Wealth Management, Inc.: Located in Columbia, Maryland, FAI focuses on helping clients create the financial future they desire by protecting their wealth, making the most of their assets, and planning for life's uncertainties. The firm combines fee-only, fiduciary-driven guidance with highly personalized, consultative financial planning and investment services that enable individuals, families, and businesses to navigate complex life transitions. Founded in 1987, FAI currently manages more than $330 million in client assets nationwide. For more information about FAI Wealth Management, please visit the website at https://www.faiwealth.com or call 410.715.9200.