Planning Scenario #6

There was a time when families had two, three, or even four generations living under one roof or in the same neighborhood.  However, that support system is now an uncommon theme as children grow up, go off to college, or move around the country, and a lack of planning by parents leads to family strife and crisis.  This planning scenario examines the family dynamic when the child takes the initiative to ensure parents can age gracefully and maintain independence and assumes the following:

- Wendy grew up in a middle-class area outside of Indianapolis, went to Standford on a scholarship, and accepted a job out of college with a startup in Silicon Valley.

- She's now 45 and financially secure after the startup had an IPO, and she has liquidated a portion of her company stock & options for safety and diversification.

- Her parents, Walter & Wanda, are 70 years old with some health concerns and rely on Social Security to maintain their modest lifestyle.  They cannot afford a significant need for care but don't want to lose their independence or rely on Medicaid for care.

- Wendy is concerned and wants them to have the option to "age in place".

- They complete a HALO Assessment that projects the couple has an 8-year, $7,000 per month combined need for care and Longevity, likely well into their nineties.