Question

4. Discuss the most effective method of financially (not emotionally) caring for investors, aging parents.

Answer 1

Following are the various options which one can choose to secure the future of hteir aging parents:

1) Have a medical insurance in place to avoid exorbitant bills charged by hospitals. The group med insurance offered by employers are the ones with lower premiums and higher coverage which one can choose

2) To generate a monthly constant cashflow for aging parent to meet their expenses, have investment in a plan which offers this option of returns withdrawl

3) Additionally invest in a plan, which offers the returns withdrawl in a lumpsum fashion for aging parents to enable a big ticket expense like a holiday after retirement