0622_Senior Life Digital Edition - Page 5

SPECIAL PROMOTIONAL SPECIAL SECTION PROMOTIONAL SECTION will pass to the other or if it will go to the owner ’ s children .
“ These are all new issues that we deal with as financial advisors ,” Reeg says .
Hackard says that the best way to avoid issues late in life is to maintain transparency in your finances . “ For the most part it ’ s going to be the children that look out for a parent ,” he says . “ It ’ s often said that our parents take care of us when we ’ re little , we take care of them when they get older .” He adds that it ’ s important to have a trustee you can count on and warns that obstruction by a caregiver or even a child is a red flag that elder abuse — which he defines as a taking of assets or undue influence that affects how assets are distributed — may be occurring .
Reeg emphasizes that planning and monitoring expenses are the keys to making your money last . “ Make a budget , include fun in the budget ,” she says . “ But check annually : Are you on target ? You could spend more at times , but you have to adjust and be willing to spend less than other times . Planning and doing updates is really important . Life changes , so you have to change your spending with your life .”
Ken Smith is a freelance writer , public relations consultant and video producer who is also managing editor of Sierra Sacramento Valley Medicine magazine . More at kdscommunications . com .


California ’ s 65-and-older population is expected to grow to over 8 billion by 2030 . In response , Governor Gavin Newsom issued an executive order in June 2019 calling for the creation of the Master Plan for Aging to improve the health and well-being of older Californians . The plan includes five goals and 23 strategies to create a network of support services by 2030 to build a California for All Ages plan .
According to the MPA website , the five goals include developing and implementing resources for housing , health , inclusion and equity , caregiving and affordable aging . Collaboration is critical and the California Department of Aging offers tools for everyone to get involved . Blueprints for collaboration , inclusion and even rural age-friendly toolkits are available online for anyone to access . Key stakeholders are happy with the progress so far . “ The administration demonstrated a commitment to implementing the MPA through the creation of key leadership positions and appointments of stakeholder committees ,” says Mark Beach , the associate state director of communications for AARP based in Sacramento . Key appointments of long-term leaders include Kim McCoy Wade , formerly the director of the Department of Aging , as senior advisor on aging , disability and Alzheimer ’ s in the Governor ’ s office .
Beach says that AARP has been heavily involved with the MPA since its launch , serving on subcommittees involved in providing feedback and assessments . Joining AARP in the implementation of assistance is the California Association of Health Facilities .
“ CAHF has a deep understanding of the needs being faced by our aging population ,” says CAHF Director of Public Affairs Corey Egel . “ It is imperative that the well-being of all Californians in rehabilitation , skilled nursing centers and community-based homes for the developmentally disabled continues to be a priority , along with the older community as a whole .”
CAHF recently launched the “ Drive to $ 25 ” campaign to urge the state to increase caregiver wages “ to reduce the income inequality experienced by well-trained skilled nursing care workers and invest in building the workforce needed to meet the growing needs of California ’ s older adults and persons with disabilities ,” Egel says .
The MPA reports that by 2030 , all collaborators and stakeholders can expect aging adults will be able to choose where they live , have access to affordable health services and be protected against isolation and abuse . Additionally , all will have access to an increased number of caregiving options due to hiring initiatives and expanding employment and security .
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