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Namely, financial ones.
Thats why experts recommend equipping yourself with the right information before embarking on this new role.
Below are the top money mistakes one expert says to avoid.
Also seefive things you should know before you take on elder care.
Its not enough to say, Well, my sister will handle it.
What if shes the primary breadwinner for her household and cant afford the time off?
What if lifting your parent is more physically demanding than you realized?
Or maybe a family member has a chronic condition of their own.
Every familys situation is unique.
Local rates in an urban area can be dramatically higher than elsewhere.
Plus, healthcare costs are growing faster than many realize.
Incorporate highly personalized data.
I speak from painful experience.
But when a loved one needed long-term care, tensions rose over who would contributetime, effort and money.
Without a clear plan, disagreements spiraled into permanent rifts that sadly ended our once unshakable unity.
A major factor is timing.
Thats why having a plan is important.
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