Life can send several challenges to you. However, all you can do is stay proactive and have your plans ready for every possible scenario so that these obstacles don’t catch you at your weakest. One such phase is when a parent or a loved one has to be moved into assisted living. It can be tough both financially and emotionally if not planned carefully.
Fortunately, there are professionals who will help you throughout and guide you to opt for the best possible solution. Eileen Graham, the founder of EG Associates Group, joins Matt DiFrancesco in the “Your Business Your Life” podcast.
According to Eileen, these health-related decisions cannot be made at the last minute due to the gravity of the problem. Certainly, a professional can simplify this process and offer suitable options to the family. EG Associates Group provides a wide variety of services and positively impacts people’s lives.
Families must be proactive and have a roadmap for their finances and health, and similarly, business owners must have a financial path that helps them preserve their wealth throughout generations. So, whether you are an auto-shop owner or have a collision repair family business, you can schedule a free 20-minute conversation with Matt DiFrancesco from HighLift Financial to go over your financial roadmap.
Your Business Your Life
The title of this podcast is “Your Business, Your Life.” It is because our business and life are directly proportional to each other. They constantly affect each other. No business can be assessed in solitude and just in terms of financial factors only.
Many business owners in their fifties have children still at home or ones who have begun their college careers. However, their parents are now in the challenging phase of life where health issues like Dementia, Parkinson’s, Alzheimer’s, are constantly taking a toll on their well-being.
So, that’s how we become a “sandwich generation.” And many times, when we have these challenges, we don’t know where to turn. So, this is where Eileen comes in to help people in these health-related challenging situations.
About Eileen Graham & EG Associates Group
Eileen adds to HighLift Financial’s value proposition as she helps clients solve problems they are facing in their lives. She is an eldercare advisor, and she assists individuals, family members, and referral sources in finding the best solutions for their elderly loved ones.
By having 20 years of experience in the long-term care industry, she can assist you in finding benefits and services that you may be entitled to help find in-home care or help you in the moving process. For example, suppose your parent requires assisted living, independent living, a personal care home, or memory care. In that case, she will evaluate the best option for your parents or your elderly loved ones.
Her company, EG Associates Group, provides all of the abovementioned services. Eileen also does coaching and provides senior placement living services. In addition, she makes sure that people are not involved in reactive planning and stay proactive.
Moreover, Eileen makes sure that the people who need care have their insurance and power of attorney. She tries her best to get the benefit they are qualified for. During the process, she meets with the family and the individuals.
During Covid, she contacted families over Zoom calls and gave virtual tours of the facilities or senior living communities. After the pandemic, she is still offering the virtual option and the traditional method that involves family visits and lunches to help them in the decision-making process.
Important Factors
Families consider some crucial factors as parents start getting older and having health issues. The starting point is having an open conversation with your parents. Ensure that you know their documents, such as security statements, financial statements, powers of attorney, health insurance documents, and living wills. If the person is a veteran, you need to know their specific information.
It would be best to remind your parents to ask for help. Also, keep an eye out for what’s going on with your parents if they start to become more depressed. Especially when you have parents dealing with Dementia and Alzheimer’s, the isolation is horrible for them.
Make sure you talk to your parents every day, even for five minutes. Set up systems in the house or for them that keep them safe. Have a record of their medications so that you can provide relevant information in case of an emergency.
Start Planning Ahead
As we grow older, it becomes increasingly challenging to plan and take care of everything. In addition, the costs involved in this area continue to rise. So, whether you have life insurance or an annuity, prices increase as you age. Therefore, you need to check what you will need in the future.
Eileen works with elder law attorneys in over eight counties to put together the plans that need to be in place for those individuals. There are specific details that individuals are unaware of. For instance, you cannot use just any power of attorney document. Specific verbiage needs to be used, and an elder law attorney can give you the most up-to-date information and service.
How Can You Contact Eileen?
You can contact Eileen via email at egconsultants@egmail.com, or you can call her at 814-241-9004. In addition, she has a great Facebook page with the name EEG associates group. You can go through the reviews and get all relevant information from there.
How To Reach Matt?
At HighLift Financial, the goal of all professionals is to help family businesses plan for the future to make the most of their hard work. Remember, your business is your life, and your life is your business. So, take a look at your current situation and highlight the plans you think should be in place.
If you want to discuss your family business situation or need more information on what kind of plans you will need down the road, schedule a private consultation session with me. In addition, you can go through my blog posts or podcasts to hear from the most influential family business owners and the professionals who are a part of my team.
Disclaimer
The information compiled and posted here solely represents the opinions and views of the guest. It might not necessarily be similar to the opinions and views of High Lift Financial. The availability of this content only serves educational and informational purposes. It is not a substitute for tax or legal advice or professional investment.
Always make sure to consult your financial advisor with any queries related to personal or business planning. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.