Later life financial security: Examining the meaning attributed to goals when coping with long term care

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9 Scopus citations

Abstract

This study examined the meaning attributed to later life financial security goals from the perspective of involved family members. Interviews with 45 families coping with the demands of long term care provided insight into six goal patterns potentially important to later life financial security: selfsufficiency; spouse's financial security; control; leaving an inheritance; qualifying for public assistance; and privacy. Evidence of different definitions of goals among participants reinforced the importance of exploring the specific meaning of goals as well as determining overall importance for an individual. Implications for assessing client goals as part of financial planning and education are discussed.

Original languageEnglish (US)
Pages (from-to)25-39
Number of pages15
JournalJournal of Financial Counseling and Planning
Volume11
Issue number1
StatePublished - Jan 1 2000

Keywords

  • Decision making
  • Elderly
  • Long term care
  • Retirement

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