This article is meant to give ideas to children who have elderly parents or parents that can’t care for themselves. I am not sure if the ideas in this article is ideal. Owning a home is a goal we all try to achieve, at least in Israel. To consider a reverse mortgage one must weigh its merits heavily.The new trend in purchasing a home or apartment is having a smaller unit attached to the property so it can either be rented out or used to care for elderly parents.
How to care for two parents at once without going broke
By Chris Taylor
New York (Reuters)- For years, Madeleine Smithberg has been at the forefront of American comedy as cocreator of The Daily Show and a talent coordinator for Late Show with David Letterman.
That sense of humor was especially handy during the last few years. That is because Smithberg had to cope with not one but two elderly parents in rapid decline.”It’s heartbreaking”, says Smithberg, 56 who has a production company in Los Angeles. “And yet it’s invisible, because nobody talks about it”.
Dealing with one aging parent is challenging enough, whether you are helping navigate the complex health-care system, paying for an assisted-living facility or struggling with cognitive decline as the parent slips away. But the emotional and financial stress can be more than double if you are caring for both parents at he same time.