All adult children caring for their aging parents are faced with this question. While it might seem overwhelming to answer, there is a simple, proven approach that we teach in the course, Will my parents outlive their money?
The course offers a step-by-step method to evaluate the affordability of different care scenarios while being mindful to keep your parents’ Quality of Life (QoL) at the forefront.
What You'll Learn
The secret to simplifying ALL caregiving decisions, including financial ones.
How to talk about your parents' wishes
Conversation openers to discuss finances with your parents
How to gather the financial information you'll need
We'll walk you through building a 10-year cashflow forecast using our proven Care Scenario Calculator
How to use the Calculator to evaluate the affordability of different care options over 10+ years
What other families do to address affordability gaps
By the end of the course, you will understand:
Which care scenario works best for your parents
Whether your parents will outlive their money
What items to discuss further with your financial advisor
What are Care Scenarios?
Care scenarios are about where your parents will live and what additional help they need with their daily activities.
Can your parents physically or mentally stay in their home?
What services and physical modifications will it take for them to be able to stay in their home?
If they can't stay in their home, where will they live?
A retirement community, assisted living, memory care, etc.?
Designed for your Busy Life
This self-paced course is designed to accommodate your busy life. There are 9 lessons; each can be completed in 15-30 minutes.
The lessons are divided into three parts: 1) A Quality of Life Mindset, 2) Care Scenario Calculator, and 3) Gaps & Next Steps
Part 1: A Quality of Life Mindset
Lessons 1-4 will help you get in the right Quality of Life (QoL) mindset for managing your parents’ finances, including strategies on having the conversation with them, tips on managing relationships with siblings or other family members, and how to gather the information you’ll need.
Part 2: Care
Lessons 5-7 will help you use the proven Care Scenario Calculator spreadsheet to build your own:
baseline cashflow + 10-year cashflow forecast to understand their current financial situation
care scenario forecasts to test the affordability of different care scenarios over the long-term
Part 3: Gaps &
Lessons 8-9 explore what to do if your forecast ends up with significant gaps, including common approaches other families use to cover those gaps, plus an overview of where to go from here.
Screenshot of the Care Scenario Calculator
In just a few steps, you'll be able to test scenarios such as moving to assisted living using the Care Scenario Calculator. All you have to do is enter a few values and the formulas in the spreadsheet do the rest.
What to Expect
When you enroll, you will receive an email asking you to confirm your email address.
You will receive your first lesson as soon as you confirm your email (this step is critical; you won’t receive the lessons until you confirm your email).
After that, you will receive one new lesson each morning (9 lessons total).
Each lesson takes about 15-30 minutes to complete.
The course materials include:
A daily email with a brief overview of the lesson and a link to download the lesson PDF.
In the PDF you will find other links relevant to that lesson, such as links to download the Care Scenario Calculator template and video overviews of how to use it in lessons 5-7.
The course, Will my parents outlive their money? is in "beta" form and is going through a soft launch now through November.
During this limited period, we have set aside a few seats for folks to participate in the beta version at no charge.
You will have access to all the course content, but the materials aren’t set in stone. Your participation will help us refine materials for the full course launch in early 2024.
We ask for three things in return:
Complete the course within 2 weeks of enrolling
Provide feedback via 2 surveys (1 after lesson 5, the other after lesson 9)
Participate in a 15-minute, 1:1 de-brief call to discuss what you found most helpful and come up with a testimonial we’ll use in our marketing materials
Enroll now if you’d like to participate in the soft launch. Enrollment closes soon!