Losing the Benefits They Paid For

If you think cutting off Social Security and Medicare is not a problem, think some more. If you're under 65, do you want your elderly parents or grandparents to move in with you? It might not be as much fun as you think.

Look up the retail prices of the medications they take. Ask the doctor's office how much an uninsured patient pays for a visit.

Do your parents want to move in with you, or would they rather stay independent as long as possible? Do you have a spare room, or will someone have to sleep on the couch? How will the folks feel about giving up their furniture and accumulated possessions? Do you have closet space for them? How many bathrooms do you have? How much money can they contribute toward groceries, utilities and other household expenses? Are you all able to make major financial and lifestyle decisions together? Do they approve of the way you clean house, or the way you cook? Do they approve of the way you are raising your children? Do you enjoy their helpful suggestions and comments?

How much help with housework will your aging parents be able to provide? Do they have problems like incontinence, short-term memory loss, hearing impairment, failing eyesight, difficulty walking? Will you be able to leave them alone when you go on vacation? Or will you take them with you, and will they (or you) enjoy it? If the day comes when they need full-time care, will you or your spouse be able to provide it? Or can you afford health care workers (strangers in your home all day)?

If your parents are no longer living, will these issues apply to aunts and uncles, aging cousins, or even your older siblings? If you still have teenagers or 20-somethings living with you, can you afford to keep them plus the older relative who needs expensive pills?