No one wants to think about the aging of his or her parents, let alone plan for their death. Unfortunately, aging is a part of life, and in order to truly support your parents, it’s best to start asking questions now.
According to the National Funeral Directors Association, the average funeral in 2009 (without the glamor of flowers, and etc.) cost $6,560. Fidelity Investments recently estimated that a retiring couple would need about $240,000 to cover medical expenses (not taking into account employee-provided health benefits).
Of course, the most time consuming thoughts are not about the cost themselves, but rather how to afford the cost.
As you parents get older here are 7 questions you need to ask.
Find the best bank account for you now.
See how much you can save in just a few steps.