Claudia Perry Ink
Planning Your Future. Will you outlive your money?
Constance Elaine Whitt Perry (1925-2011) was a teacher, mother, civil rights activist who believed in social justice, and loved to teach people to read. She worked, occasionally walked picket line and cared for her family through thick and thin. She took care of her brothers and sister, and all of them died before she did. There's no question that her faith and values made me who I am now. But, as time advanced and she lost my father in 1994, little things changed. She became angry, mistrustful and less social and outgoing. She stopped exercising and pulled away from her church family. By the time she got into a car accident and her neighbors called me and my sister, we knew she needed help. She was diagnosed with dementia in 2003 and entered a continuing care facility not long after that. She lived independently until she started calling 911 every time the staff ignored her. She lost her muscle strength and began to use a wheelchair. Two years or so after arriving at the home, she didn't recognize us. Her path was typical of dementia patients. Her health was mostly good with a few hospitalizations here and there. She was in hospice care twice before she died, but spent eight years in the facility before she died. Her path was typical of most dementia patients, who can live between 8 and 10 years after being diagnosed.
Unfortunately, my mother's story is a typical one. She and my father planned for the future, taking classes in estate planning and draw up wills and medical powers of attorney. They diversified their investments and hoped to leave an inheritance for their children. But, even with her pension from the D.C. school system and her government survivor's benefit, my Mom came very close to outliving her savings. Her nursing cost twice her benefits. Because of this, I vow as a financial services professional to do everything I can to make sure that doesn't happen to anyone I know or to any of my clients. Let's make sure you tell a different story than this one.
