Personal Finance
Transitions of the elderly
Successful change depends on one's freedom to choose
Winnipeg Free Press
Fri Nov 10 2006
Do I go or do I stay?
Should I wait another day?
The house is so comfy, I love it quite clearly.
My things and my treasures I'm devoted to dearly.
My books and my paintings, my living room chairs,
my oversized bed and my tables in pairs.
So many memories spread over the years, so many laughs, a sprinkling of tears.
It takes courage to leave all that good stuff behind me...
That's a poem written by a woman named Ruth. She was quoted in a sensitive and informative book by Peter S. Silin, a geriatric social worker in Vancouver.
The book is called, Nursing Homes -- The Family's Journey. It is subtitled, A guide to making decisions as a family, choosing a facility, and getting the best possible care.
Mr. Silin presented last month at the annual symposium of the Institute for Advanced Financial Planning. Although there were in-depth presentations on tax, estate planning, investment portfolio construction, collaborative divorce, mediation and domestic law, it was Mr. Silin's talk on aging and eldercare that struck me as being the most profoundly important for financial planners and the general public.
Life expectancies are increasing annually. That's the good news. A consequence is the strain this is putting on the healthcare system, on the services for older people and on the families, as we strive to improve the quality of life for the people in their later years.
Mr. Silin talked about successful transitions having the characteristics of choice, being based on the older person's own timing, and clarity about the unknown. However, he also spoke of the need to push, sometimes, when change is clearly needed.
He talked about aging as often characterized by loss. These losses can include family, friends, social network, career, previous roles, sensory abilities, mobility, memory, balance and other bodily functions. He mentioned taste and smell, two senses I had not previously considered.
While these potential losses are not all common to all people as they age, any loss engenders a process of grief. This grieving process needs to be acknowledged, as if un addressed, grief can lead to depression and a host of other problems.
The challenge for families is that they, in many cases, have to become experts in this area while, at the same time, there are so many other demands on their time. There appear to be relatively few resources available. In Vancouver, Mr. Silin's company, Diamond Geriatrics Inc., provides counselling, consulting and care management in the eldercare area….
Mr. Silin's book is published by the Johns Hopkins University Press, www.press.jhu.edu. or www.nursinghomesbook.com.
David Christianson is a fee-only financial planner and investment counsel with Wellington West Total Wealth Management Inc. dchristianson@wellwest.ca.
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