CAS News
Kristie Joins CAS
We are pleased to announce the most recent addition to our growing, family-focused firm: Kristie Hulmes!
Kristie will serve as our Front Office Coordinator for our Naples office – greeting you when you visit our office, answering the phones, preparing the conference rooms for meetings, handling incoming and outgoing mail, and providing administrative support for events and other special projects.
“Kristie is a wonderful addition to our CAS team,” said Susan Hansen, Director of Administration. “Our clients are already commenting on her warm smile, positive spirit and personable nature.”
Prior to joining our CAS family team, Kristie served as an administrative support team member at Macy’s for 10 years. Originally from Staten Island, NY, she currently lives in Naples with her husband Christopher, her son Zachary and her dog Skippy.
Kristie Hulmes is not registered with either FSC Securities Corporation or Ciccarelli Advisory Services, Inc.
Our Driverless Future
By now, you’re probably familiar with the concept of driverless cars – a new technology where computers will replace humans behind the wheel. Although the development of these autonomous vehicles will be gradually at first, the driverless car may become viable about ten or more years down the road.
A driverless world will undoubtedly bring about some exciting social changes – and the transition towards this technology could have implications for investors. A 2016 article from the CFA Institute provides us with a hypothetical preview of this not-so-distant world.
As the demand for driverless cars increases, cities and communities will be able to reuse or develop areas that are currently devoted to parking. A self-driving car will deliver you to your destination and then park itself in a compact high-rise parking facility, where the car will recharge itself (since it will also be electric). When you are ready to leave, you will be able to summon your car to pick you up at the door and take you home.
People living in urban areas might not need to own a vehicle; instead, you could subscribe to a car service that will drive you anywhere. In a city environment, this simple change would lead to a huge reduction in traffic, since many of the cars currently on the road are hunting for a rare parking space. Traffic flows will be faster and less congested, making city life more pleasant; and cities would be more spread out, since fewer people would dread the commute on uncrowded highways.
Additionally, you would no longer be stuck behind the wheel during your commute; instead, you could use that time for productivity or relaxation. Your car could become a mobile office that drives itself around town while you answer emails or make a conference call. If you take a road trip, you would be free to catch up on your TV shows, read or take in the scenery.
In the future, the driverless car would become the chauffeur to school or to kids’ activities while parents have more time to live their own lives. Older people would no longer have to give up the keys to the car when they reach a certain age; instead, they could travel where they pleased without endangering others.
Of course, a driverless society would also eliminate serious road hazards – drunk driving, people texting behind the wheel, people falling asleep – preventing about 30,000 highway deaths every year. Since driverless cars are more precise, a 4-lane highway could be transformed into a 5- or 6-lane road by making the lanes narrower and using the curb space. Driverless cars might move more quickly, with the potential to safely travel at speeds of up to 100 mph. These shifts would nearly eliminate traffic jams, making transportation quicker and more convenient.
Of course, the advent of the driverless car is not entirely rosy from an economic standpoint. Millions of driving jobs would be eliminated. Car insurance companies would suffer, since there would be little need for coverage in a world of nearly zero accidents. Car manufacturers would have to shift their value proposition from a thrilling drive to more robust in-car entertainment systems.
Are you ready for that world?
Source: http://www.cfapubs.org/doi/pdf/10.2469/cfm.v27.n2.23
Special thanks to Bob Veres for his commentary
The Secret to Productivity – Give Me a Break!
For generations, the tried-and-true eight-hour workday was widely considered to be the gold standard of workplace productivity.
However, the eight-hour workday is gradually becoming a relic of the past. Before the advent of modern technology, workers were dependent on sunlight in order to complete tasks, whether it was harvesting citrus, hand-weaving cloth on a loom, or welding doors to a Model T. That being said, the concept of working 9-to-5 does not jive with how the human brain functions.
A 2014 study conducted by the Draugiem Group – a productivity consulting firm based in Latvia that works with Proctor & Gamble, Nokia, Samsung, Nestle, L’Oréal and Siemens – measured how much time workers spent on various tasks and compared this to their productivity levels. A computer application tracked both their work habits and outcomes.
The researchers discovered that the length of the workday was fairly inconsequential; rather, the main driver of productivity was how people structured their day.
People who worked longer hours were typically less productive than those who made a habit of taking short, regular breaks.
The most productive workers would spend an average of 52 minutes of concentrated work, followed by 17 minutes of rest. That formula allowed them to be 100% dedicated to the task they needed to accomplish without being distracted. When productive workers felt fatigued, they completely separated themselves from their work for a brief period of time. Then, they would dive back into their work – refreshed and ready for another hour of focused productivity.
The findings of the study indicate that the brain naturally functions in spurts of high energy followed by low-energy phases. In order to maximize your productivity, take a quick lap around the office, grab a snack or give yourself a brief reprieve from the daily grind!
Source:
https://www.forbes.com/sites/travisbradberry/2016/06/07/why-the-8-hour-workday-doesnt-work/#36ccbcf636cc
Special thanks to Bob Veres for his commentary.
Kantor Recognized as Forbes Top Women Wealth Advisor
Kim Ciccarelli Kantor, CFP®, CAP®, has been recognized in the Forbes ranking of “America’s Top Women Wealth Advisors 2017”.
Kim was ranked 169 out of 200 advisors. Her placement was determined through an algorithm developed by SHOOK Research and reflects her commitment to quality, competence and core values when serving her clients.
As president and co-founder of Ciccarelli Advisory Services, Inc., Kim has more than 34 years of comprehensive financial planning experience.
To view the complete list of “America’s Top Women Wealth Advisors”, visit the Forbes website.
Third-party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by any client nor are they representative of any one client’s evaluation. Based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors with a minimum of seven years of experience and weighing factors like revenue trends, assets under management, compliance records, industry experience and best practices learned through telephone and in-person interviews. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. No fee was exchanged for this ranking.
Communicating as a Couple
Jill Ciccarelli Rapps | èBella Magazine | May 2017
Communication can make or break any relationship, especially the special bond you share with your significant other. In particular, failing to communicate about your money can place undue strain on your marital relationship. Without proper communication, you will find it nearly impossible to appreciate your spouse’s aspirations and philosophy regarding money.
Whether you’ve recently gotten married or have been married for decades, you and your significant other will both benefit from regular discussions about finances. Open and honest communication will not only enable you to avoid common misunderstandings that lead to hurt, resentment or confusion; but will also promote your long-term financial success.
Facilitating the Discussion
As a result of practicing these healthy communication habits, you will likely reduce conflict in your marriage and develop a mutually satisfying agreement about your financial plan.
Start by discussing your overall perspectives on money. What is your underlying approach to managing your finances? Are you a spender, a saver, or an investor? What important lessons or beliefs about money have informed your opinions? You’ll want to be completely honest when discussing your perspective on money. Your personal attitudes and beliefs about spending and saving will shape your behavior; which, in turn, impacts the financial outcomes that you and your spouse will achieve.
Recognize your differences. Differences of opinion are a healthy and normal part of any relationship. In many cases, you will discover that your perspective on money does not align perfectly with your spouse’s viewpoint. Unfortunately, minor disagreements about money can bubble under the surface for years and could eventually lead to a heated argument.
To prevent this downward spiral of conflict, it may be a good idea to have a third party, such as a financial advisor or coach, to help you bridge the gap between your perspectives and goals. In doing so, you will likely find some common ground – or at the very least, reach a clearer understanding of your spouse’s financial perspective.
Identify common goals. Where do you want to be at the end of 2017? How about in five years or 25 years? Both of you should dedicate plenty of time to articulating and clarifying your goals. Then, pinpoint the similarities between your respective visions. By discussing your common ground, you will find it much easier to focus on creating a unified blueprint for your financial future.
Find a compromise. As you discover areas where you and your partner are at odds, you may need to seek a centrist solution. For example, if your partner is adamant about having cash on hand to spend freely, create a budget that allocates some extra spending money for them. On the flip side, if your partner is savings-oriented, consider how you could reduce your expenses or generate supplemental income to develop your retirement nest egg.
No matter the situation, there is usually a compromise that fulfills both of your needs and reflects the big picture of your financial plan.
Designate your “family CFO”. You may find it useful to view your personal finances in the same light as a business. Most companies have a CFO who closely monitors their cash flow, expenses and profitability. An effective CFO will analyze the data, make informed recommendations, and work with other executives to make decisions that bring about positive financial change.
In the same way, you could benefit from appointing a family CFO, who will play the lead role in managing your budget and portfolio. It is crucial that your CFO is capable of overseeing your financial plan in a way that is fiscally responsible, agreeable to both parties, and aligns with your underlying goals. While the balance of financial power in your relationship may not be equal, both of you should have some level of involvement in the decision-making process.
The Foundation for a Healthy Future
Conversations about money can be uncomfortable and contentious for some couples. That being said, a willingness to communicate openly about your finances will help you to achieve your goals and sustain a healthy spousal partnership. By celebrating your differences, collaborating on common goals, and developing a unified vision, you can revitalize your relationship and enhance your financial wellness.
If you would like to improve your communication with your significant other, a financial advisor can facilitate conversations about money and serve as an objective arbiter for recurring disputes you have encountered. A gentle push from an expert can be instrumental in finding consensus and opening new doors in your collective pursuit of financial success.
Helping Your Grandchildren Pay for College
As the cost of a college education continues to climb exponentially, many grandparents are stepping in to assist their grandchildren in the pursuit of higher education.
Funding your grandchild’s college education not only brings you great personal satisfaction; doing so also provides you with a smart, tax-efficient approach for passing your wealth and legacy to the next generation. We have outlined some of the methods you can use to invest in your grandchild’s educational advancement.
Outright Cash Gifts
A common way for grandparents to help grandchildren with college costs is to make an outright gift of cash or securities. However, this method has a couple of drawbacks. A gift that exceeds annual federal gift exclusion amount – $14,000 for individual gifts and $28,000 for gifts made by a married couple – might be subject to the gift tax or the generation-skipping transfer (GST) tax.
Another drawback is that a cash gift to a student will be considered untaxed income by the federal government’s aid application (FAFSA). Student income is assessed at a rate of 50%, so a large gift of cash or securities may impact your grandchild’s financial aid eligibility.
One workaround is for you to give the cash gift to your child instead of your grandchild, because gifts to parents do not need to be reported as income on the FAFSA. Another solution is to wait until your grandchild graduates college and then give them a cash gift that can be used to pay off student loans.
Pay Tuition Directly
Another option is to pay the college directly. Under federal law, any tuition payments that are made directly to a college will not be considered taxable gifts – regardless of the size of your payment – so you won’t need to worry about the annual federal gift tax exclusion.
Aside from the obvious tax advantage, paying tuition directly to the college ensures that your money will be used for the education purpose you intended. In addition, you would still have the option of giving your grandchild a separate, tax-free gift each year.
However, federal law exempts tuition payments only; room and board, books, fees, equipment, and other similar expenses do not qualify. Also, in some situations, the college or university may reduce your grandchild’s institutional financial aid by the amount of your payment.
Before sending a check to the school, ask the college how it will affect your grandchild’s eligibility for financial aid. If your contribution will adversely affect their aid package – in particular, the scholarship or grant portion – consider gifting the money to your grandchild after graduation to help him or her pay off student loans.
529 Plans
A 529 plan can be an excellent way for you to contribute to your grandchild’s college education, while simultaneously paring down your own estate. Contributions to a 529 plan grow on a tax-deferred basis, and withdrawals used for the beneficiary’s qualified education expenses are completely tax-free at the federal level.
There are two types of 529 plans: college savings plans and prepaid tuition plans. College savings plans are individual investment-type accounts; the funds can be used at any accredited college in the United States or abroad. Prepaid tuition plans allow prepayment of tuition at today’s prices for the limited group of colleges – typically in-state public colleges – that participate in the plan.
You may open a 529 account and name a grandchild as the beneficiary, or you can contribute to an already existing 529 account. In terms of contributions to the 529 account, you may elect to contribute a lump sum or contribute smaller amounts over time.
A major advantage of 529 plans is that individuals can make a single lump-sum gift to a 529 plan of up to $70,000 ($140,000 for joint gifts by married couples) and avoid federal gift tax. To do so, a special election must be made to treat the gift as if it were made in equal installments over a five-year period. No additional gifts can be made to the beneficiary during this timeframe.
Example: Mr. and Mrs. Ciccarelli make a lump-sum contribution of $140,000 to their grandchild’s 529 plan in Year 1, electing to treat the gift as if it were made over five years – annual gifts of $28,000 ($14,000 each) in Years 1 through 5 ($140,000 / 5 years). Because the amount gifted by each grandparent is within the annual gift tax exclusion, the Ciccarellis won’t owe any gift tax (assuming they don’t make any other gifts to this grandchild during the 5-year period). In Year 6, they can make another lump-sum contribution and repeat the process. In Year 11, they can do so again.
Significantly, this money is considered to be removed from your estate, even though the grandparent would still retain control over the funds. There is a caveat, however. If you or your spouse were to pass away during the five-year period, then a prorated portion of the contribution would be “recaptured” into the estate for taxation purposes.
Example: In the previous example, if Mr. Ciccarelli were to die in Year 2, his total Year 1 and 2 contributions ($28,000) would be excluded from his estate. But the remaining portion attributed to him in Years 3, 4, and 5 ($42,000) would be included in his estate. The contributions attributed to Mrs. Ciccarelli ($14,000 per year) would not be recaptured into the estate.
If you have determined that you want to open a 529 account for their grandchild, keep in mind that there is a double consequence for early withdrawal. If you need to withdraw money for something other than your grandchild’s college expenses, the earnings portion of the withdrawal is subject to a 10% penalty and will be taxed at your ordinary income tax rate.
Did you know…
- If your grandchild doesn’t go to college or gets a scholarship, you can name another grandchild as 529 account beneficiary with no penalty.
- Many states offer income tax deductions for contributions to their 529 plan.
- A recent survey of grandparents revealed that over half were—or planned on—contributing to their grandchildren’s college education. (Source: Financial Research Corporation)
- Each 529 plan has its own rules and restrictions, which can change at any time.
Regarding financial aid, grandparent-owned 529 accounts do not need to be listed as an asset on the federal government’s financial aid application. However, distributions (withdrawals) from that 529 plan are reported as untaxed income to your grandchild, and this income is assessed at 50% by the FAFSA. By contrast, parent-owned 529 accounts are reported as a parent asset on the FAFSA (and are assessed at 5.6%). Distributions from parent-owned plans aren’t counted as student income.
To avoid having the distribution from a grandparent-owned 529 account count as student income, one option is for you to delay taking a distribution from the 529 plan until after January 1 of your grandchild’s junior year of college (because there will be no more FAFSAs to fill out).
Another option is for the grandparent to change the owner of the 529 account to the parent. Colleges treat 529 plans differently for purposes of distributing their own financial aid. Generally, parent-owned and grandparent-owned 529 accounts are treated equally because colleges simply require a student to list all 529 plans for which he or she is the named beneficiary.
Investors should consider the investment objectives, risks, charges, and expenses associated with 529 plans before investing. More information about specific 529 plans is available in each issuer’s official statement, which should be read carefully before investing. Also, before investing, consider whether your state offers a 529 plan that provides residents with favorable state tax benefits. As with other investments, there are generally fees and expenses associated with participation in a 529 savings plan. There is also the risk that the investments may lose money or not perform well enough to cover college costs as anticipated.
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Caring for Your Aging Parents
Jill Ciccarelli Rapps | Life in Naples Magazine | May • June • July 2017
In 2016, more than 10 million Americans – about 3% of the U.S. population – served as the primary caregiver for their elderly parent. The continuum of caregiver responsibilities vary based on needs, but often involves the daily basic care needs such as feeding, administering medicine, and helping with personal hygiene; as well as financial and emotional support.
As a caregiver, your obligations to your parent or loved one can be draining – both financially and mentally – so it is crucial to have a plan in place. By preparing for your role as a caregiver, you should ensure that all of their needs are met while still taking care of your own.
Here are some key tips to keep in mind to make the most of your time as a caregiver.
Have the Conversation Early
If possible, talk to your parents before their health degrades about putting a plan in place. By preemptively addressing these concerns in advance of need, you can prevent many of the hiccups that you are bound to encounter.
First, take a look at both of your parent’s financial resources and your personal financial situation. This crucial first step can help you to determine what options are feasible for your family to consider and can help you to make decisions about filling any gaps that may lead to financial hardship.
You should also draft a living will, and establish power of attorney and a healthcare proxy. The best approach is to partner with your financial advisor and attorney to develop a plan that meets your needs.
Gather All the Necessary Paperwork
You will also want to compile all of the necessary paperwork for your loved one’s next stage in life. Create a file of their important documents and ensure that this file is kept in a secure location that can be accessed by all parties concerned.
You will need to collect:
- Income information including pension, 401(k) and retirement plans, and SSI benefits
- Savings bonds, stock certificates, and annuity contracts
- Partnership, corporate, or company operating agreements
- Tax returns
- List of all bank accounts
- Documentation of any loans, debts, or credit cards or accounts
- Copies of their health and life insurance policies
- Medicaid/Medicare information
- Social security cards and birth certificates
- Property deeds and vehicle titles
- Contact information for their medical doctors and insurance agents
- Power of attorney, healthcare power of attorney, living will, and/or authorization to release healthcare information
- Medical histories and prescription information
Develop a Budget
Once you understand the full extent of your combined resources and have gathered your key documents paperwork, you should develop a budget. Though it may be difficult to determine a budget before you know the full extent of your parent’s health care costs, a financial planner can provide an informed estimation about their living expenses.
When creating your budget, consider all costs – not just medical and hospice care, but also factor in their day-to-day living expenditures (housing, food, utilities, etc.). Determining your budget can also help you decide if your parents should move in with you, if you can leave your job to provide full-time care, or if you can hire outside help. Most importantly, a well-formulated budget can help reduce the mental and emotional stress that arise from financial woes.
Get Help When You Need It
No one will ever be able to care for your parents like you can. However, that does not mean compromising your own future financial security for the sake of being their caregiver. If caring for your aging parents becomes unmanageable, tap into some of the resources that are available in your community.
For instance, a financial planner can provide you with the clarity and insight you need to plan your budget effectively. Additionally, there are myriad benefits available through Medicare and Medicaid, as well as free or low-cost government programs that can assist you in finding quality hospice care and medical support. Make sure that you take the time to learn about the full extent of these benefits!
Though caring for your aging parent is a difficult prospect to consider, it is critical for you to develop a comprehensive plan in the event that you find yourself in this position. By properly planning for future needs, budgeting for medical and living expenses, and seeking out community resources, you can effectively provide financial and emotional support for your aging parent.
Where Do Your Tax Dollars Go?
As you look back on your tax payments for calendar year 2016, you’re undoubtedly wondering where those dollars are being spent.
The Wall Street Journal recently published a report that breaks down government spending for every $100 of tax receipts. The report concluded that the U.S. government is, in reality, a large insurance company that also happens to have an army.
For every $100 you pay in taxes, $23.61 goes to Social Security payments and administration – basically insurance for retirees. Another $15.26 goes to Medicare, the government health insurance program. Medicaid, the health insurance program for the poor, accounts for another $9.55 of that $100 tax bill – bringing the total costs for various civilian insurance programs to 48% of the total budget.
And that army? It costs $15.24 of every $100 the government collects in taxes, not counting veterans benefits.
In all, the 2016 federal budget fell $15.24 short out of every $100 of revenues equaling expenses. So where would you cut?
Things like federal expenditures and grants for education ($2.08), food stamps ($1.89), affordable housing ($1.27) and foreign aid ($1.14) actually make up a very small part of the budget, smaller than interest payments on the national debt ($6.25).
There has been talk about helping reduce the budget by lowering expenditures on the National Endowments for the Arts and Humanities, which together represent eight-tenths of one cent of that $100 tax bill. This would be comparable to someone trying to pay off his mortgage by looking for coins under the sofa cushions!
Source:
Special thanks to Bob Veres for his commentary
https://www.wsj.com/articles/how-100-of-your-taxes-are-spent-8-cents-on-national-parks-and-15-on-medicare-1492175921
A Senior’s Guide to Housing
As you grow older, your housing needs will likely change. Maybe you’ll get tired of doing yardwork. You might want to retire in Florida or live close to your grandchildren in New York. Perhaps you’ll need to live in a nursing home or an assisted-living facility. Or, after considering your options, you may even decide to stay where you are. When the time comes to evaluate your housing situation, you’ll have numerous options available to you.
Every housing arrangement has its pros and cons, and there are no “one-size-fits-all” housing solutions. By pondering and addressing the questions presented in this article, you will get a better feel for your ideal living situation during your golden years.
Independent Living
Are you able to take care of your home by yourself? Even if your answer is no, that doesn’t necessarily mean it’s time to move. Maybe a family member can help you with chores and shopping. Or perhaps you can hire someone to clean your house, mow your lawn, and help you with personal care. You may want to stay in your home because you have memories of raising your family there. On the other hand, change may be just what you need to get a new perspective on life.
To evaluate whether you can continue living in your home or if it’s time for you to move, consider the following questions:
- How willing are you to let someone else help you?
- Can you afford to hire help, or will you need to rely on friends, relatives, or volunteers?
- How far do you live from family and/or friends?
- How close do you live to public transportation?
- How easily can you renovate your home to address your physical needs?
- How easily do you adjust to change?
- How easily do you make friends?
- How does your family feel about you moving or about you staying in your own home?
- How does your spouse feel about moving?
Moving in with Children
If you are moving in with your child, will you have adequate privacy? Will you be able to move around in your child’s home easily?
If not, you might ask him or her to install devices that will make your life easier, such as tub or shower grab bars and easy-to-open handles on doors.
You’ll also want to consider the emotional consequences of moving in with your child. If you move closer to your child, will you expect him or her to take you shopping or to include you in every social event? Will you feel as though you’re in their way? Will your child expect you to help with cooking, cleaning, and babysitting? Or, will he or she expect you to do little or nothing? How will other members of the family feel? Get these questions out in the open before you consider moving in.
Talk about important financial issues with your child before you agree to move in. This may help avoid conflicts or hurt feelings later. Here are some suggestions to get the conversation flowing:
- Will he or she expect you to contribute money toward household expenses?
- Will you feel guilty if you don’t contribute money toward household expenses?
- Will you feel the need to critique his or her spending habits, or are you afraid that he or she will critique yours?
- Can your child afford to remodel his or her home to fit your needs?
- Do you have enough money to support yourself during retirement?
- How do you feel about your child supporting you financially?
Assisted Living
Assisted-living facilities typically offer rental rooms or apartments, housekeeping services, meals, social activities, and transportation. The primary focus of an assisted-living facility is social, not medical, but some facilities do provide limited medical care. Assisted-living facilities can be state-licensed or unlicensed, and they primarily serve senior citizens who need more help than those who live in independent living communities.
Before entering an assisted-living facility, you should carefully read the contract and tour the facility. Some facilities are large, caring for over a thousand people. Others are small, caring for fewer than five people. Consider whether the facility meets your needs:
- Do you have enough privacy?
- How much personal care is provided?
- What happens if you get sick?
- Can you be asked to leave the facility if your physical or mental health deteriorates?
- Is the facility licensed or unlicensed?
- Who is in charge of health and safety?
Reading the fine print on the contract may save you a lot of time and money later if any conflict over services or care arises. If you find the terms of the contract confusing, ask a family member for help or consult an attorney. Check the financial strength of the company, especially if you’re making a long-term commitment.
As for the cost, a wide range of care is available at a wide range of prices. For example, continuing care retirement communities are significantly more expensive than other assisted-living options and usually require an entrance fee above $50,000, in addition to a monthly rental fee. Keep in mind that Medicare probably will not cover your expenses at these facilities, unless those expenses are health-care related and the facility is licensed to provide medical care.
Nursing Homes
Nursing homes are licensed facilities that offer 24-hour access to medical care. They provide care at three levels: skilled nursing care, intermediate care, and custodial care. Individuals in nursing homes generally cannot live by themselves or without a great deal of assistance.
It is important to note that privacy in a nursing home may be very limited. Although private rooms may be available, rooms more commonly are shared. Depending on the facility selected, a nursing home may be similar to a hospital environment or may have a more residential feel. Some on-site services may include:
- Physical therapy
- Occupational therapy
- Orthopedic rehabilitation
- Speech therapy
- Dialysis treatment
- Respiratory therapy
When you choose a nursing home, pay close attention to the quality of the facility. Visit several facilities in your area, and talk to your family about your needs and wishes regarding nursing home care. In addition, remember that most people don’t remain in a nursing home indefinitely. If your physical or mental condition improves, you may be able to return home or move to a different type of facility. Contact your state department of elder services for guidelines on how to evaluate nursing homes.
Nursing homes are expensive. If you need nursing home care in the future, do you know how you will pay for it? Will you use private savings, or will you rely on Medicaid to pay for your care? If you have time to plan, consider purchasing long-term care insurance to pay for your nursing home care.
There’s No Place Like Home
Before jumping into a new housing situation, it is imperative to be open about communicating your needs and desires. While open communication within your family unit should be your top priority, you may also benefit from the insight of various experts in the field of senior living.
Our CAS team has a wealth of experience in this arena, and can also connect you with professionals from a wide range of senior living communities in your area.
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
SpelLIFE 2017 – A Celebration of Women’s Wellness
The fourth annual SpelLIFE Women’s Wellness Summit inspired and educated more than 350 women in the Southwest Florida community about the eight dimensions of wellness – offering them the insights and resources needed to pursue a wellness-focused lifestyle.
The summit – presented by A Euphoric Living Foundation, Inc., and èBella magazine – was on Saturday, April 1 in Naples.
The focus of SpelLIFE 2017 was promoting inner and outer beauty, a message that was articulated by two keynote speakers: Glennon Doyle Melton, author of the #1 New York Times bestseller Love Warrior; and Crystal Andrus Morissette, best-selling author of The Emotional Edge.
Both keynote speakers emphasized the importance of being open about one’s vulnerabilities, speaking freely about hardships and encouraging women to take a proactive role in creating their own success.
In addition, five breakout speakers from the Naples community shared their expertise on a variety of beauty and health-related topics: Gaynell Anderson, Mindy DiPietro, Deb Logan, Jill Ciccarelli Rapps, and LaDonna Roye.
The SpelLIFE Women’s Wellness Summit also featured 30 resource exhibits, where local organizations showcased the services and value they offer to help women achieve lifelong wellness.
A portion of the proceeds from the SpelLIFE Women’s Wellness Summit benefited The David Lawrence Center, a local non-profit organization that provides treatment for people with mental health and addiction issues.
The event was sponsored by Absolute Physical Therapy, Aesthetic Treatment Centers, Ciccarelli Advisory Services, èBella Magazine, Image MD, LaDonna Roye Hairstylists, Life in Naples Magazine, and Wynn’s Market.
To discover more about SpelLIFE and future women’s summits – including volunteer and sponsorship opportunities – visit us online at AEuphoricLivingFoundation.org or Facebook.com/WWSNaples; or contact Jill Ciccarelli Rapps at Info@AEuphoricLivingFoundation.org.
