As you know, Kids Ain’t Cheap normally talks about young children and finance. However, as children grow up, they sometimes find themselves in the parenting/guardian position. In somewhat of a role reversal, older parents often end up needing assistance from their children. So, we felt this was an important topic to talk about.
Once your parents reach Social Security retirement age, Medicare becomes a significant part of their lives. The program provides them with a certain level of medical insurance, ensuring more manageable expenses. This is especially important once parents are no longer working. You, as the adult child, may have to play a major role in this process. Here’s how to care for your elderly parents via Medicare coverage.
Tamila McDonald has worked as a Financial Advisor for the military for past 13 years. She has taught Personal Financial classes on every subject from credit, to life insurance, as well as all other aspects of financial management. Mrs. McDonald is an AFCPE Accredited Financial Counselor and has helped her clients to meet their short-term and long-term financial goals.