Managing Medication & Pill Aversion

There seem to be two kinds of people in this world. One that uses medication and appreciates the benefits, and the other that has a general aversion to taking medication.

I fall in the second category and was happy when the one prescribed medication I was taking (a baby aspirin/day) fell out of favor. Well, I suppose there was the science to it, but when my doctor said to discontinue taking it, I was happy to comply.

I see many people struggle with medications, including those with no cognitive issues. I think it’s too easy to miss a dose and think pill caddies are helpful solutions.

A reader asked if there were any simple books for medication management for someone diagnosed with Alzheimer’s. While I’m not trained in health management, from the brain health training I have done, I do know that starting a new habit is difficult for someone diagnosed with any form of cognitive issue, include all dementias.

There are two simple options to help manage medication as well as see if and when someone has missed a dose. The first is the pill caddy and the second is bubble packs. For anyone with more complicated medication scheduling or a lot of pills, the doses are packed with dates and times and come on a roll or in a blister pack.

I always consider options that give an individual more control over their life. I think those two options are helpful in managing medication and provide simple cues on when to take and if a dose was missed.

For those that are averse to medication, but diagnosed with something that medication can prevent or abate, I hope family and loved ones will speak up and help the individual understand the choices they are making and the potential risk to their health. One of the entitlements of being American is that we are given the opportunity to make really bad choices for ourselves. However, when it comes to our health, sometimes our spouses, siblings, and friends need to recognize that someone diagnosed with a cognitive issue might be unable to make a reasonable choice. The act of not taking that medication might result in a need for a higher level of care or other health complication that requires medical intervention or nursing care.

I hope if you have someone in your life in this second category, you will at least share your concern and give them the opportunity to explain their choice. Once diagnosed with any form of dementia, I see many deal with loss after loss. They have lost friends who fell away, the ability to perform at a job they loved, and even just manage the simple act of cooking a meal. Is the refusal to take the medication one place that gives them a sense of control? Wondered.

Now it’s Time to Get Organized

While our social lives are slowing down, now is a good time to work with your spouse, partner, family, and friends to build a roadmap of your important personal documents, asset details, and account information.

You can download a free checklist here to get started.

While I initially created this checklist for caregivers, I found it was incredibly useful to organize all of the information that surrounds my family. I also went from two drawers in a filing cabinet to one 2-inch three ring binder.

You can download a free copy of the checklist (and get a simple guide on what to save and what to shred) to put together a binder of your information. In my house it sits on the desk in our home office so everyone can find the information when it is needed.

I hope you will find it useful for you and your loved ones. Feel free to share this PDF. Given.

When to claim Social Security?

A report released estimates that “almost all American retirees claim Social Security at the wrong time … which means they will miss out on a collective $3.4 trillion in benefits before they die.”

Oooaaaaffff. That hurts.

Especially when we are living longer and care costs are escalating. Most American’s don’t realize that many care costs are not covered by their medical insurance. Help in the home (dressing, bathing, eating, toileting) is not covered by medical insurance, but is why long-term care policies are offered.

The last year of my Mom’s life cost over $200,000 in 2015. That included the memory care community she lived in (it wasn’t super fancy, it was just the right community for her) along with the additional costs for a personal care assistant added up quickly. Unfortunately, my Mom was unsteady on her feet so we had to pay for additional care when she was awake so she didn’t keep trying to walk and then fall and end up in the Emergency Room.

Social Security offers a retirement calculator which I recently used with my sister. It made it easy to see when to turn on her benefits.

If you work with a financial advisor, I would contact them to learn how and when turning it on makes the best financial sense for you. Talk to you friends and family to learn how they made their decision. This is a situation in which talking about money and the choices we make can be great learning experience.

Let me know what you decided to do!

How to Protect a Loved One’s Finances

If you find you have a loved one who is in failing health, has hired caregivers in the home, or is living in a care community, minding the day-to-day finances and spending is a simple task you can manage from a computer. Unfortunately, this can also happen to very health adults who get fooled by clever fraudsters as well. 

After caring for two parents with dementia, I remind myself how much the checkbook meant to my mother. She had always managed the household finances and the suggestion that she was unable to manage a checkbook safely was something that needed to be left unsaid. I found that out after I said it a few times. ; <

 

The biggest problem I faced was a lost purse that contained the checkbook. She thought she left it in a cab, a store, at a bridge game … I couldn’t manage the hours each week spent looking for her purse. Today you can at least get a tile which would have been immensely helpful in keeping track of her handbag, but it wasn’t an option yet.

There are several simple ways to help track the daily spending from the convenience of your computer: 

  • Get a tile and insert it into the wallet so you can easily find it if it get’s misplaced. You can use their online portal to track it’s location.  
  • Open up a new checking account and fund it with a small amount of money that can afford to be lost. You can easily move money into the account in small amounts as it needed to be replenished. If the checkbook is lost or you suspect fraud you can easily close the account.
  • Consider setting up a TrueLink card. It is basically a credit card where you can set up limits on how much can be charged as well as products and services that it won’t fund. There is a fee for it, but the small expense is worth the money it will most likely save in potential losses.

Unfortunately, I have recently had clients both at home and living in communities be a victim of caregiver exploitation. One got my client to write her a small check, one purchased some face cream for my client and asked her for repayment of $85, and another apparently kept asking for gas money. Most agencies and communities require their caregivers agree to never accept money or gifts from clients. Should a client give them money, it needs to be reported to the community or agency. In the past month, I have reported three caregivers for violating this condition of employment. Sadly, I know they will just turn up at another agency.

What I struggled with was that this was one of the few remaining freedoms for my mom. She could no longer drive, or run the bridge games she loved, and that checkbook gave her an empowered sense of self. Now as a Daily Money Manager, I see all the ways that people are trying to get at the money of my clients.

Ultimately, someone needs to be vigilant about minding the finances as well as considering how to layer in these protections. A few bad apples spoil the lot. I hope these options help you and your loved ones. 

$58 Billion Reasons Why to Organize Your Information & Online Passcodes

bag of moneyMost American’s are unaware that more than $58 billion is sitting in state and federal treasuries — it’s money that got lost in the shuffle of a move, crisis and even death. Family members and loved ones don’t know about it and it ends up in dormant accounts help by State and Federal Treasurers.

I used the MissingMoney.com website when I was caring for my parents. You can do one search and see if any of your loved ones money ended up in a state treasury. Every year, I do a quick search to see if anything slipped through the cracks. A few years ago, we found a record for my dad and claimed $2,500. Turns out, something was left behind in Kansas when we moved away in 1969.

Given the amount of accounts you accumulate today, it’s easy to understand how easy it might be to forget about a stock certificate, utility deposit, or even a small retirement account. I even found some of my money that was for an over-payment to the county water utility that I never received.

HOW TO SEARCH FOR MISSING MONEY

To do a quick search to see if you are entitled to missing funds, visit MissingMoney. Enter your name and state and you will get back a list of possible matches. You should make the claim directly to the state treasury. Every state website has a simple portal you can use to initiate the process.

1) Go to the state web site where you believe you may have missing money

2) Search the state web site for “missing” or “unclaimed money”

3) Make a direct claim following the web site instructions.

You should never have to pay anyone money to claim money that is rightfully yours.

Happy hunting! Enriched.

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MissingMoney does not include all states and not all the information — in particular some very old records. To learn more about this topic, check out Mary Pitman who wrote The Little Book of Missing Money.

Even Savvy Adults Get Fooled by Imposter Scams

A girlfriend shared how her mom, who she thought was of sound mind, was fooled into thinking that she (my girlfriend) had been kidnapped. They tried to get her mom to a check cashing place to wire money for her release.

Thankfully, her mom navigated it well but it was a quite a traumatic event. Her mom lives in a condo and kept the fraudster on the phone while she went down to the concierge who called the police. However, she was wondering if her mom was really of sound mind if she fell for this.

I confirmed to her that really smart people can be victims of this scam because the fraudsters are so good. In fact the FTC reported that the kidnapping scam is the top “Imposter Scam” for 2017 and cost Americans at least $328 million.

As a Daily Money Manager, I work with older adults in their homes and one of the first things I do is implement a call screening solution. In metro-DC, I can implement Nomorobo which is free service from Verizon. The Nomorobo website can help you find out if you can get their free service in your area.

You will immediately notice the quiet once you implement this feature in your own home.

If you can’t get a service like Nomorobo, you can purchase a call blocking device like Sentry 2 that lets you blacklist numbers. It does require that you tag calls to the “blacklist” to block, and you can also add numbers and only get calls from those on your “whitelist”. It can fill the need but does require assistance to be effective.

Two other simple options include:

  1. Sign up for “Anonymous Call Rejection” with your local carrier. This service rejects calls from anyone that has blocked their caller ID information. It is usually something you can enable using *77 but varies by provider.
  2. Never answer the phone if they don’t recognize the number.  Real people trying to reach you will leave a message.

Eventually, I think the FTC might start requiring phone companies to offer more protections for their clients. They have admitted the “Do No Call” list is a total failure. Technology improvements are great … it just stinks that crooks are always looking for ways to separate us from our money. For now, it’s our job to help protect ourselves and our loved ones.

For more on this topic, check out this story:

How to Avoid Becoming a Victim of a Virtual Kidnapping Scam The Washington Post

When banks prioritize their interests over customer service, we all lose.

wells_fargo_realityI have yet to be convinced that the default process being used by banks put into place to protect our accounts is reasonable. Today reminded me of how frustrating it is to deal with Wells Fargo in particular.

My client wanted me to step in as POA to help on her accounts, so we went to the bank and set it up so I could easily act on her behalf. She was with me and we used the Wells Fargo form to set it up and the whole process took an hour–it should have taken 10 minutes. The first banker had no idea how to even do it, so we waited for the “senior banker”.  The “senior banker” had to call the “back office” to be walked through the process.

My client has estate plans and a trust in place, but her son is not in the area. I was stepping in to help while she was transitioning from her home into a life care community.  We are on the other side of the transition and now that Wells Fargo has the Trust and all the beneficiaries is in alignment with her plans, I wanted to step down as POA.

I visited the bank to resign thinking it would be relatively easy. The first appointment took over an hour as I first had to wait for the “senior banker”, and then we sat on the phone as he called the “back office” to get tutored on what to do. I was told I had to bring in a letter formally resigning. They didn’t have a form, or any further instructions.

When I returned with my “resignation letter” I was working with a different banker.  While thankfully, I was attended to right away, we then had to wait on hold in the queue for the “back office” for 25 minutes. This time the “back office” tells us there are specific things that had to be included in the resignation. My typed up letter put her name in the header, not in the sentence, so that letter didn’t work. After 45 minutes, I am really annoyed since the “letter requirements” were not provided to me on my first visit.

This banker understands my frustration and grabs a piece of paper and asks me to hand write the resignation.

Ummmm, you mean I could have done that on the first visit?

Yes, I could have. He is now talking with a contact at “document review” to finish the process to complete what Wells Fargo needs to complete the resignation.

Prompts to the banker who helped me on this last visit. He is the kind of banker you want, but the Wells Fargo systems are a hindrance to building a positive relationship with CUSTOMERS.

I am frustrated. Wells Fargo is doing this for THEM, not for my CLIENT, or for ME. We are both customers. For the millions of caregivers who are going to have to go through this laborious process, be forewarned and do it before you need it. It only gets harder.

I miss the smaller bank I used to work with. I came first. I’ve also seen this with my clients and colleagues. The big name banks prioritize their interests and procedure before customer service.   

** I left my smaller bank because their online banking was very difficult to use and unreliable. Open to recommendations for banks in the NoVA!