In social functions, I always get asked about the new Medicare nursing home qualifications. Seniors become very anxious about having to spend-down their assets with no cap on the amount that they can keep. This unlimited drain on their funds is of major concern to the healthy spouse, and because the sick spouse cant do anything about getting sick, they become more and more depressed. These folks are of the World War II generation and the market crash of 1929 mentality. If you dont have the cash you dont buy it. Most of them got a credit card only because they had to pay their prescriptions over the mail.
Their health and well-being depends on knowing that they can tap into their resources to get what they need or when their grandkids come to visit they want to reward their visit with a few bucks. My mother is of this vintage, and I know that when my kids drop in for a visit, it makes her day. She wants to give them something in return, not because its an enticement to come back, but she doesnt get out enough visits and she values their time, especially in this day of instant gratification with Ipods, Internet, cell phones, video, etc. and because they valued...
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