In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on unexpected medical events. The duo explores the challenges, lessons, and need for preparedness surrounding caregiving, long-term care, and the inevitable health changes that come with age.
They also discussed:
- Challenges advisors face when clients experience unexpected medical events.
- The effects of chronic health issues gradually impacting daily life.
- The transition to a sudden and drastic change in health, leading to a need for external help and medical intervention.
- Acknowledgment of complex medical considerations for treatment and care, considering age and cognitive issues.
- The need for preparation and decision-making when facing retirement and potential health issues, including the consideration of long-term care facilities.
- Advocacy and involvement of family members in ensuring quality care in long-term care facilities.
- The lack of awareness and understanding among people regarding their roles in long-term care situations.
- Addressing the gender disparity in longevity and how it impacts retirement planning.
Resources: NextChapter | Alliance for Lifetime Income