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Protecting Your Parents' Money: The Essential Guide to Helping Mom and Dad Navigate the Finances of Retirement Paperback – August 9, 2011
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“Opdyke (Piggybanking, 2010, etc.) offers sensitive, user-friendly advice for adjusting to those stressful parent-child role reversals…A solid, informative reference.” (Kirkus Reviews)
“This guide offers sound advice for handling the financial issues stemming from medical care and daily living situations for seniors…This is one of the only books to provide clear instructions for adult children dealing with their parents’ financial needs.” (Library Journal)
From the Back Cover
Are you ready for the inevitable day whenyou will have to act as parent to your parents?
Protecting Your Parents’ Money is the essential financial handbook that will help you navigate this confusing and difficult transition, providing a game plan for tackling complex issues like estate planning, retirement income and savings, and long-term health care. Most important, it will help bridge the communication barrier between parents and adult children, which often makes the process much more difficult than it needs to be. Important topics include:
- Personal Finance 101, the Senior Years: The essential definitions and workings of the myriad investment options and financial requirements your parents will deal with in retirement.
- The Move: How to find the right nursing homes or retirement communities, comparing costs and factoring your parents’ assets into the mix.
- Understanding Medicare: What it is, how to qualify for coverage, and what it means for your parents’ finances.
- Elder Fraud: How to look for telltale signs that your parents have been victimized.
Protecting Your Parents’ Money provides the comprehensive guide every loving son and daughter will need to understand and help manage Mom and Dad’s financial concerns.
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Top Customer Reviews
One thing missing that I would like to see in an update of the book is a chapter on strategies for dealing with the financial predators - especially unscrupulous charity fundraisers who phone our elderly parents and keep asking them for donations. These people are relentless and it is very hard to get them to back off.
This book had the clearest descriptions and discussions of these topics that I have seen. Whether it is durable power of attorney or variable annuities, this book explained what they are and discussed what you need to consider.
I found this in the library, but I am ordering my own copy to use for my mother, but also for myself.
EASY to understand and read - VERY comprehensive. I am a voracious reader, always carrying a bag of books to read. The clarity of the writing of this book is excellent.
I particularly liked his advice on page 231 AFTER hearing so many distressed callers with my head set on- from the most intelligent, to the biggest hearted, to the young and the old... - caught by surprise and despair when that crisis hit home (and crisis never seemed to hit at a convenient time....)
There are so many decions that we make that effect the rest of our lives (30-50 years!) this gets you thinking and provides guidance.
Most Recent Customer Reviews
Easy to read book on finance. This was a subject that interested me very much. No one protects your own money like you do. Read morePublished 6 months ago by pdgutie
I confess, I only made it halfway through this book... At first is seemed fine, the author talks about how it can be hard to discuss these things with your parents and that if they... Read morePublished 15 months ago by Ducktight
Lots of very informative information for adult children and their parents. Also should be a must read for siblings before they venture into the how do we help mom & dad discussion.Published on June 1, 2013 by Tom Devlin
Much of what is in the book I already knew, but a refresher course is always good for a reminder..Published on January 23, 2013 by sophiab
Easy reading first got it from the library an wanted a copy for my sister s family to be informed as wellPublished on November 20, 2012 by nell beaver