If you think your adult child is struggling with mental health, how do you offer support? In this article in the New York Times, Julie Halpert offers effective strategies that can at least open the door to a young adult receiving help if parents see signs that their child is struggling with mental health.
“Ethically, how responsible am I for my brother? How do I justify making arrangements for him to go into assisted living so I can enjoy the retirement we planned on, knowing that his quality of life will diminish? How do I set aside this strong sense of disappointment in myself?” ~ Name Withheld
People with disabilities are not all the same. They have different personalities, capacities and preferences. Residential options for the intellectually and developmentally disabled are not one size fits all.
Many people with special needs are living longer lives due to advances in medicine. That also means many are outliving their parents and primary caregivers. Long-term planning could include a Special Needs Trust which would give parents of special-needs children more options to extend care and financial assistance. What is a Special Needs Trust and how does it work?
We think of Ponzi schemes as the pyramids of money not being invested as promised but flowing out to pay bogus investment returns to people who invested earlier. Charles Ponzi’s more recent fellow fraudster, Bernie Madoff, graced tabloids just a few years ago. Similar schemes are active today. Could one of them be Social Security?
“Full retirement age” for Social Security benefits is creeping up to 66 or 67 and the age at which traditional IRA and 401k benefits must be taken was just extended from 70 to 72 by the SECURES Act. The average American retires with Social Security and $172,000 in savings. The question is, what will make your money last?