My time in New York was well spent, not only because of what I learned and who I met but mostly because it reinforced the issues and trends that I have been following, studying, researching, writing about and teaching. It also supported the re-branding of my company last fall to the Long Term Care PlanningNetwork! Canada has approximately 65 million fewer boomers than the U.S. but the opportunity [...]
Karen Henderson in the media More and more financial organizations see the value of educating their advisors about long term care planning, so these professionals can better serve an aging client base. One of these forward-thinking organizations is Mackenzie Financial. As the result of working with Mackenzie at their regional conferences across Canada in 2006, Karen was interviewed for the cover story of the January issue of The Mackenzie [...]
According to experts, women are most vulnerable to retirement insecurity, particularly to financial catastrophe late in life. Reasons: Women live longer then men, and often spend years outside the workforce raising children and caring for parents. Consequently, a divorce and/or a spouse's death can have a more dramatic impact. As one woman wrote to Karen: "I attended your seminar/information night hosted by Sunlife/Clarica. I was there [...]
My father was almost 94 when he died. Looking after him opened my eyes to a world I don’t want to move into – the world of the old. Everyone gets old. None of us should be surprised or angry; it’s a fact of life. But what’s also a fact of life is this: We don’t treat older people as people. We treat them as a [...]
WASHINGTON, Oct. 20 /PRNewswire/ -- The first of the nation's 78.2 million baby boomers turned 60 this year and an additional 7,900 reach that same milestone every day. With advances in medicine, most boomers can expect to live into their 80s and 90s, but experts warn that more than 95 percent of them are unprepared for eventual long-term care needs associated with living a long life. [...]
By People's Daily Online Some 12.7 percent of senior citizens in Beijing are willing to take out long-term care insurance, but there are just 1.52 beds for every hundred senior citizens, according to a report from the Beijing Municipal Council on October 19. The report shows that there were 2.02 million senior citizens in Beijing at the end of 2005. It is expected that this figure will be [...]
SEI Investments (Nasdaq: SEIC) has launched a revolutionary life and wealth program that will help advisors answer the demands of today's changing wealthy clients. SEI recognizes life-centric advice as one of the primary new demands of the growing wealth marketplace. The SEI Wealth Network was designed around what the company sees as an emerging new "Wealth Code" among the affluent - the intrinsic set of values [...]
As an EPC (Elder Planning Counselor) I was delighted to attend and speak at the first Elder Planning Issues Conference (EPIC) in Niagara Falls this month. Approximately 150 EPC’s from across Canada met for two days to learn more about topics critical to their elder clients, including: Memory loss Frauds and scams Funeral planning Legacy planning Emergency planning Advising family caregivers of the frail elderly (Karen’s session) [...]
It should. We are on the edge of the first "mass geriatric society” and unless we get our act together, the picture will not be pretty. The fastest growing segment of our society is the 85+ and roughly half of those will suffer from some form of dementia. Why? Because the number one risk factor for Alzheimer Disease and related dementias is aging. If no cure [...]
Canada's baby boomers are a happy lot, but are worried about their financial future. A survey for BMO Financial Group finds only 28 per cent of boomers are very confident that they will be financially secure in old age, compared to 41 per cent of those under 40 years of age and 47 per cent 60 years and older. A third of boomers believe their standard [...]
Wealth management is the phrase du jour. The billions of dollars that are being transferred inter-generationally are creating a renewed interest in HNW clients. There is tremendous competition on Bay Street and across Canada for these clients However are they being well served? According to Taddingstone Market Research, they are not. "Only 33% of millionaires surveyed by Taddingstone use private banking services. And those that do aren't [...]
Twenty years of data indicate there is a strong correlation between nursing home admission and the presence of certain unhealthy lifestyle-related factors in middle age. Researchers at the Institute for Health at Rutgers University in New Brunswick, NJ, found that, by and large, the same factors that increase the risk of disease and early death also increase the risk of requiring nursing home care later in [...]
