Have you had a money talk with your parents?

When aging parents begin having trouble living independently, with symptoms such as difficulty with paying bills, grocery shopping, or making food for themselves, often it is worth looking into assisted living communities where they may be happier.

Janice Bakal is one Baby Boomer who began noticing her mother started to have trouble in keeping track of her finances, according to a recent article in the Calgary Herald.

Bakal’s mother, who was then in her late 80s, could not keep track of her bills, what she had paid, and what she still owed. Catherine Fallon, an outreach worker at a local seniors organization, told the news source that every situation is different, and needs to be approached carefully.

“Some people take to it very kindly and are happy for it to be off-loaded . . . others, that might be the last remaining piece of control,” she told the news source.

Bakal’s mother, who is now 90 and living in an assisted living community, was cooperative and now has people helping her with her personal finances.
Experts suggest that, for the mental benefit of both aging parents and middle-age children, having the discussion about finances as early as possible is recommended.