Planning prevents panic

16 interesting points from a book review by D Murali of Business Line of W. Neil Gallagher's "The Money Doctor's Guide to Taking Care of Yourself when No One Else Will," from Wiley (www.wiley.com)

1. Good habits pay off for the elderly.
2. A thorough annual check-up.
3. Run.
4. Eat fruits and vegetables, and low salt and fat.
5. Restrict calorie intake.
6. Drink at least 8 cups of water a day.
7. Read.
8. Walk.
9. Don't watch TV.
10. Drive defensively.
11. Build a desire to win.
12. Build strong relationships.
13. Get involved... stay involved.
14. Laugh long, loud, and often.
15. Give and forgive.
16. Stay positive.

I reviewed my performance and found that even by a process of liberal interpretation, I follow only 7 out of 16 [just passed ?]. How about you? Regards.

- Dilip.

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Source: Business Line, Dec 11, 2005.

D. Murali

CHECK if you agree with the following statements: "I don't want to spend my final days in a nursing home. I don't want to be on welfare (aid). I don't want my family's health and finances ravaged because of my aging and death."

If yes, here is W. Neil Gallagher with "The Money Doctor's Guide to Taking Care of Yourself when No One Else Will," from Wiley (www.wiley.com).

First, get rid of the GSP syndrome, he urges. The abbreviation means, "Government is good. Society is bad. People are helpless." GSP is silent and systemic, contagious and fatal, warns the author. "With GSP, you give up. You see everyone else giving up. You have no control over your future (so you think). You surrender life and death, health and family to government." Shake it off, because "you can retire safe, early, and happy and healthy," exhorts Gallagher.

Chapter 1, on `nursing home abuse', can frighten you from falling sick. Common abuses include "untreated bedsores, inadequate medical care, malnutrition, dehydration, preventable accidents, and inadequate sanitation and hygiene," informs the author citing a recent Congressional report.

"Thirty per cent of nursing homes across the US cited for 9,000 instances of abuse." Wonder what our numbers are!

The US Government Accountability Office (GAO) classifies under `crimes of omission' failures in feeding the patient, taking him/ her to the bathroom, changing bandages and so on.

"The GAO found that the primary causes of death in nursing homes are dehydration and malnutrition." Go for LTC or long-term-care insurance, suggests the author, because "at 65+ you have a 50/50 chance of needing LTC."

Make it to 98 and love and live every minute, with tips that fill an entire chapter. "Good habits pay off for the elderly," notes Gallagher.

On the physical side, suggested strategies are: get a thorough annual check-up; run; eat fruits and vegetables, and low salt and fat; restrict calorie intake; `be accountable for your eating habits'; choose a suitable version of fast; drink at least 8 cups of water a day; `keep that sexy smile and take great care of your teeth'; do slow and low weightlifting; read, walk, and don't watch TV; and drive defensively.

On the emotional side: "Build a desire to win. Embrace the perspective. Build strong relationships. Get involved... stay involved. Laugh long, loud, and often. Give and forgive. Stay positive. Take control. And dump the guilt." Your `intellectual' survival tactic should be to `learn and grow every day' because `your mind is a muscle'.

Gallagher lists `powerful strategies that protect profits and provide peace of mind' in a chapter called `the plan'. There are `six savage attacks on your money', he cautions. "Any one of these attacks can rip you apart: 1) public disclosure of your finances and personal business; 2) taxes at all levels; 3) lawsuits; 4) government seizure; 5) market risk; 6) inflation and the escalating cost of living." Check if you have the `bullet proof documents' to shield yourself from these attacks; remember, "Planning prevents panic."

A vicious circle that hits you on the face is `caring for momma -{gt} fatigue -{gt} resentment -{gt} guilt'. Statistics show that the caregiver dies before the care receiver, `from sheer exhaustion', wearing out `emotionally, physically, and financially'.

A practical truth, therefore, is: "You shouldn't assume your kids will take care of you," because they lack energy, assets and time.

"Another misconception people have is that their spouse will take care of them, and vice versa."

To check if you can really take care of your spouse when you are both older and weaker, Gallagher suggests a quick test that you can try right now: "Tell your spouse to lie in bed, as dead weight: a sack of cement. Lift them out of bed. Guide them to the bathroom... " What's the result? Can't do it?

The final chapter is devoted to the caregiver. "Just like child-rearing, caring for an elder adult is a full-time job." Surveys show that many caregivers are men, 80 per cent assist relatives, and almost one in five caregivers provide 40 or more hours of care per week. As caregiver, you need to pay attention to attitude, Gallagher writes.

Commitment is must. Also, realise that "what you've got and where you are is plenty good enough to build again."

Caring for the old will be one of the major challenges, forecasts the author. Even countries that enjoy a younger demographic profile have to confront the problem later. But the reality is that there is no one at home to look after an aging, infirm parent, rues Gallagher.

He cites Robert Frost's definition of home in `The Death of the Hired Man' as "the place where, when you have to go there, they have to take you in." Now, if you went there, chances are you'd find nobody home, quips the author.

Essential read as a `safety net'!

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