While financial planning can
be a very difficult emotional experience for many people, it ultimately provides
a person with a sense of security and independence. When you make a realistic
accounting of current property and assets, establish economic priorities and
take action to secure one's future, you are financially planning for the future.
Financial planning attempts to organize a person's affairs to cover their basic
necessities and realize their dreams. Your involvement in the financial planning
of the senior will depend on whether he/she considers these matters to be
private in nature.
First consider the basics. How
much money does the senior have in his/her savings and checking account? Do they
have an IRA, real estate, stocks or bonds and how much income can they expect
from Social Security? Does the senior have a private pension, retirement or
other kind of fund? What are the penalties if the senior makes an early
withdrawal from their IRA? Does the senior need long-term care insurance? What
are the rules involved with Medicaid eligibility?
What is a financial
planner? Financial planners are trained professionals who help people
evaluate their current financial situation and future financial options. They
can be life insurance agents, accountants, lawyers, bankers or a variety of
other different types of trained professionals. Are you able to do the following
without the services of a financial planner? Do you understand the senior's
current financial situation? Do you understand the senior's investments and
their potential risks and/or financial returns? Are you able to obtain any
information about public and private health insurance options? Can you develop a
financial plan for the senior and adhere to a financial timetable? Are you
prepared to periodically review the senior's plan and make any necessary
adjustments?
If you feel more comfortable
choosing a financial planner, make certain you gather as much information you
can about the senior. Talk to the senior and find out what his/her particular
financial goals may be. For instance, do they want to continue living in their
own homes as long as possible or will they consider a retirement facility soon?
Once you meet with the planner, ask what you can expect from him/her. Find out a
little about his/her experience and credentials. Is he/she willing to show you
some examples of his/her work (with all confidential information removed)? Do
not be afraid to call some of his previous clients to inquire about the quality
of his/her work. It may also be a good idea to meet with more than one financial
planner to make certain you are as comfortable as possible. Talk about the fees
and payment schedule. Most importantly, try to be as organized as possible
before and after you meet with your planner. Keep good records and always pay
for services with a check
We will be pleased to accept your collect call if you are calling for
information about admissions.
- Telephone
- (330) 758-8106
- FAX
- (330) 758-7030
- Postal address
- 830 Boardman Canfield Rd.
- Boardman, Ohio 44512
-
- Admission Coordinator: Pat Ivany (330) 758-8106
-
- Electronic mail
- General Information:
Webmaster:
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