What’s Karen been up to?
Family Consulting I am delighted to announce I am growing my family consulting practice. I’ll outline briefly a case I am working on now, which concerns my client, a 60-year old son and his 85-year old mother. […]
Karen in the media
In addition to being featured the above mentioned Financial Post Magazine, I was recently asked to participate on a panel for the CBC’s Radio One show The Current. The show topic: Palliative care experts say it's time for Canadians to talk about end of life care. The program opened with an interview with U.S. oncologist Dr. Atul Gawande who has written a wonderful book “Being Mortal: [...]
Should life expectancy be part of financial planning?
It’s not as hard to make it to 100 as you think. Statistics Canada says there were 5,825 centenarians in 2011, up from 3,795 just a decade earlier. By 2061, the federal agency estimates close to 80,000 people will reach the century mark. There are five major things that determine how long you live. Smoking Being overweight Exercise The type of food you eat Your family [...]
Karen can’t believe it…The U.S. 90+ Study
I know a great deal about aging but this study surprised even me. They are called "the oldest old ‘ – those who are people age 90 and above, and they are the fastest-growing segment of the U.S. population. Yet very little is known about the oldest old, since until recently, there were so few of them. So what determines which of us will make it [...]
Seniors ill-prepared for long-term care needs: survey – Only 10% plan to use long-term care insurance
According to a Leger marketing survey in the latest issue of Investment Executive: 56% of Canadians are unaware of the costs of long-term care in their province, And most are unprepared for the prospect of incurring such costs. Two-thirds of those surveyed said they do not have a financial plan to cover the costs of ongoing long-term care, and only 10% of respondents plan to use [...]
Long term care – who will pay the bill?
I attended a lunch in February put on by the Institute for Research on Public Policy. The room was jammed, not an empty seat. Wonderful I thought…..maybe something may actually begin to change. The panel featured three speakers: David Baker, Sun Life Financial who made the case for long term care insurance. Michel Grignon, director of the Centre for health Economics and Policy at McMaster who [...]
Spring 2013 Views
On April 24 I spoke at HUB’s Professional Development Day. My topic: Long Term Care and The Devil Called Denial. The room was full and at the conclusion of my talk there was a run on myAdvisorwise Care Planning Program. I feel the winds are finally starting to change; advisors are seeing the potential –both financially and ethically – to talk to their clients about long term care [...]
John Moody, Founder of Family Transitions
I believe in finding the best person to do the best job. Therefore I continue to search for people to add to my network who in turn may assist you, the professional advisor. I would like to introduce you to John Moody, Founder of Family Transitions. He excels at estate settlement, asset documentation and organizing finances. How can Family Transitions help you/your clients? John focuses on finding [...]
Dave Aschaiek, Founder of High5Financial
I would also like to introduce you to Dave Aschaiek, Founder of High5Financial. Dave specializes in financial and dispute resolution to support caregivers of the elderly. According to a 2006 Health Council of Canada Survey, roughly 41 percent of caregivers have used personal savings to provide care. Another 22 percent reported missing one or more months of work in order to manage caregiving duties. Another recent study [...]
Watch Karen Henderson talking about long term care on YouTube!
[youtube id="Y1jln6yagtQ" width="600" height="350"] Karen was recently interviewed by Jason Heath, a Fee-Only / Advice-Only Financial Planner & Income Tax Professional at Objective Financial Partners Inc. Watch on YouTube CONTACT KAREN TO LEARN MORE ABOUT HER SPEAKING/COACHING EXPERTISE.
Long term care needs reform: C. D. Howe Institute
A new report from the C.D. Howe Institute calls for innovative reforms to prepare for the coming surge in demand for long-term care services that will be driven by aging baby boomers. It poses two questions: What is the right combination of public and private coverage in long-term care? How could governments fund long-term care more efficiently and reduce costs in the healthcare system as a [...]
CLHIA Report on Long Term Care Policy
In June 2012 CLHIA (Canadian Life and health Insurance Association Inc.) released an extensive policy paper entitled Improving the Accessibility, Quality and Sustainability of Long Term Care in Canada. This paper examines the future cost of long term care in Canada over the next 35 years to support the baby boomers as they pass through old age and concludes that a significant funding gap exists. Conservatively, the cost [...]