Most of us think of our pre-retirement years as a period of anticipation Children can now look after themselves A fulfilling retirement is finally within your grasp For many people however having to take care of an aging relative torpedoes that vision While becoming a caregiver may be unexpected there are some advance steps you can take so you won’t be caught completely off guard, It’s the phone call no one wants to get A loved one has had a stroke and will need some kind of assisted living They will be out of the therapy facility in 60 days and after that they are on their own They need their family to come through for them but your family hasn’t any idea how to approach the problem It’s an increasingly common scenario There were approximately 38 million unpaid family…

There has been a recent increase in the awareness of the “Sandwich Generation” where individuals provide for both their children and aging relatives Nearly half of Baby Boomers have the responsibility of saving for retirement raising children and caring for an older adult¹, Present generations will have life experiences and responsibilities that are far different and potentially more demanding than others before us and must do more to anticipate them This leads to the question how many of us consider aging loved ones as we prepare for retirement If so how many of us are prepared to support our loved ones and what is the impact on our retirement future, Facts about caregiving, It is easy to go about our daily routines without considering having to serve as caregiver in the future however given increasing longevity it is likely that most of us will have to take on the role Here are a few facts about caregiving 2 There are approximately 38 million unpaid family caregivers in the US Many of those caregivers are women in fact US women aged 55 or older provide the…, Caregiving can impact your retirement future, One half of caregivers have no choice in taking on their caregiving responsibilities Approximately 60% of caregivers must make work accommodations like reducing hours or taking a leave³ In many cases caregivers are also faced with exiting the workforce early to provide care Such a decision may alter their retirement future both financially and emotionally , Caregiving can be both rewarding and stressful, The caregiver role can also have an impact on well-being Although most providers report experiencing unexpected joy from helping others and becoming closer to their loved one at this stage in their life there are also negative effects Individuals who provide care for extended periods of time often experience a decline in health Approximately 17% describe their health as fair or poor compared to…, The need for care is often unexpected – so be prepared, The caregiver role often comes at an unexpected time Approximately 40% of caregivers are not prepared when they assume the responsibility 5 Given the changing nature of responsibilities for loved ones additional steps should be taken to plan for ourselves as well as the possibility of having to care others Retirement planning should include a multi-generational discussion for potential caregivers…, What resources are available to provide for their care,  Financial discussions are often difficult to initiate However having a conversation to confirm your loved one understands how much may be needed for care may lead to a more in-depth discussion Confirm they have an understanding and are working with a financial planning professional to develop a strategy, Do they have insurance to cover their healthcare needs,  Medicare does not cover everything specifically it does not cover caregiving Confirm that there is adequate insurance for hospitalization short-term rehabilitation and long-term care, Who is authorized to make decisions on their behalf,  If called to act you want to make sure you have the power to execute This often requires having powers of attorney for healthcare and property Confirm that they have received legal help from counsel that specializes in estate planning and a good plan is in place, Who will make up the support system for care,  Caregivers need to have a support system so their heath does not decline also Consideration should be given to how care may be structured It may require seasonal care in different locations by different family members If so consideration should be given to what resources are offered in the states the providers live in, The bottom line, At some point in their life Baby Boomers will most likely need to provide care for a loved one most often unexpectedly Preparing for this eventuality in advance can make all the difference from a financial emotional well-being and healthcare perspective for both the caregiver and for the family member receiving care Your Wealth Advisor can help start the conversation involve family members who…, Published April 2025, 1   https//wwwramseysolutionscom/retirement/how-to-help-your-parents-and-save-for-retirement 2 https//wwwaarporg/caregiving/financial-legal/info-2023/unpaid-caregivers-provide-billions-in-carehtml 3 https//wwwaarporg/content/dam/aarp/research/surveys_statistics/ltc/2017/family-caregiving-rolesdoi1026419%252Fres00175001pdf 4  https//wwwaarporg/content/dam/aarp/ppi/2015/caregiving-in-the-united-…

Carl Davis is Senior Vice President and Head of Corporate Recruitment in Mesirow Human Resources In this role he is responsible for spearheading recruitment efforts across multiple lines of business and consulting with strategic decision makers globally to strengthen the value proposition within our Investment Management Capital Markets Investment Banking and Corporate Services teams  Carl has…

Why having an adaptable carry strategy is important in a time of risk aversion, Although carry is a popular trading strategy in the currency markets one of its downfalls is that it tends to rely on markets being ‘risk seeking’ and it is widely acknowledged and witnessed empirically that the strategy suffers in periods of risk aversion or ‘risk off’ In the main this is because the source from which it extracts its signal ie interest rates is not able to adjust quickly enough…

At Mesirow during Pride Month in June and every day we celebrate the accomplishments of the Lesbian Gay Bisexual Transgender and Queer (LGBTQ community in society and in the workplace as we also acknowledge the work still to be done for equity Our firm’s Connect Pledge—a promise by employees to serve as allies and accomplices for all marginalized groups—has its roots in our PrideConnect Employee…

With a heavy heart we are sad to report on the passing of Richard Mesirow the son of our firm’s founder and a beloved leader in our Wealth Management group for nearly six decades before his retirement in 2016 Richard joined his father at Mesirow as the firm’s 10th employee in 1960 Over his tenure Richard helped establish and truly embodied the firm’s reputation for working to solve our clients’…

What do CBDCs mean for the US dollar as the world’s major reserve currency , Eleven nations 1 have issued central bank digital currencies a digital form of a government-issued currency that is legal tender but isn’t backed by gold or silver (like US dollars Another 18 countries are piloting CBDCs while dozens of nations are in research or development stages The United States hasn’t decided to issue a central bank digital currency giving other nations a head start How…, That USD reserve currency position is important because it results in lower transaction and borrowing costs for US citizens businesses and government it widens the pool of investors for US investments and it allows the US to influence global monetary standards To some not issuing a CBDC or being a market laggard will give other currencies the opportunity to catch up to or surpass the US dollar’s…, Explore, US dollar Currency dynasty, Is the USDs position as the worlds reserve currency safe or is its decline inevitable Read article, Nothing lasts forever Is the US dollar an exception, Crises and competition challenges USD hegemony as the dominant foreign exchange reserve Read article   1 Countries that have launched a central bank digital currency include Jamaica The Bahamas Eastern Carribean (8 countries and Nigeria As of 31 March 2023 Source https//wwwatlanticcouncilorg/cbdctracker/ | 2 Republic of France Federal Republic of Germany United Kingdom of Great Britain and…, References, https//wwwwhitehousegov/ostp/news-updates/2022/09/16/technical-possibilities-for-a-u-s-central-bank-digital-currency/ https//wwwbisorg/review/r221017ihtm https//economictimesindiatimescom/industry/energy/oil-gas/india-is-still-paying-russia-in-dollars-for-oil-imports/articleshow/95388579cms https//wwwimforg/en/Blogs/Articles/2022/06/01/blog-dollar-dominance-and-the-rise-of-nontraditional-reserve-…