Monday Morning Magic, April 11, 2022: It’s well-documented that a decline in financial capabilities is an early sign of cognitive decline. However, researchers at Johns Hopkins recently found that those with Alzheimer‘s disease and related dementias were more likely to miss bill payments up to a full six years before a diagnosis. Does that mean it would be a good idea for adult children to be monitoring their parents’ finances?
Absolutely, believes the star of this month’s issue of BeInkandescent magazine — Cameron Huddleston, the author of “Mom and Dad, We Need to Talk.” A writer with an MA in economic journalism from American University, Cameron’s articles have appeared in Forbes, Kiplinger‘s Personal Finance, and the Chicago Tribune. Daily Finance named her one of the top 20 personal finance influencers on Twitter. At 35, the reality of helping her aging parents hit home. Hard.
“Clearly, you couldn’t say, ‘Mom and Dad, I want to monitor your finances to see if you’re missing bill payments, which might mean you have dementia,’ Cameron shares. In her book, we read not just about her own experience but also from others who have successfully had “the talk” with their parents:
- Learn conversation starters and strategies to open the lines of communication about your parents’ finances
- Discover the essential financial and legal information you should gather from your parents to be prepared for the future
- Gain insight from others’ stories of successfully talking money with aging parents
- Gather the courage, hope, and motivation you need to broach difficult subjects such as care facilities and end-of-life plans.
Click here to buy the book. Don’t miss Cameron’s interview about this important topic on the Inkandescent Radio Show Margaritas with Marguerita Cheng, CFP® Pro. And click here to learn more about the Art of Aging Well in this month’s issue of BeInkandescent magazine.
We leave you with this powerful parting thought from Cameron Huddleston: “My father died when he was 61. He was in his second marriage, and he died without a will. He should have known better because he was an attorney. Of course, the state decides who gets what when you die without a will. So, your wishes are not expressed. A few years later, when my mother was 65, she was diagnosed with Alzheimer’s. I was 35 at the time, I still had young children, and suddenly, I was thrust into the role of caregiver for my mother. My biggest regret is not talking to her about her finances before she started having memory issues. I wrote this book because I don’t want people to make the same mistake I made. And I don’t want people to have to figure out things on their own like I did because it’s not easy. It really is not easy.” Click here to read more: cameronhuddleston.com.
Until next Monday: May your week be filled with the courage to have all tough conversations with compassion and love. — Hope Katz Gibbs, Inkandescent™ Inc.