Everything You Need to Know About Spending Down

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BY: LAUREN COSTELLO
LMCOSTELLO@ERICKSON.COM

We all know running out of money is a scary thought. Do I really need those new clothes? How much money should I give my granddaughter for her graduation? Is this medical bill going to burn a hole in my pocket? You have probably asked yourself some of those questions over the past few years. But now, you realize that time is going by even faster, prices are increasing, and you’re not quite sure how to manage everything.

Thanks to the MaCCRA committee (special shout out to Courtney Alvey and Gerri Gray) Mark Roussey was able to answer most of these questions during the Spend Down town hall lecture that took place this past Wednesday in Erickson Hall.

Mark first went through a few slides explaining what exactly would be covered during the meeting. He knows this is a scary topic and didn’t want to gloss over the details. He encouraged everyone who had questions about managing money or who needed some extra help to schedule a meeting with himself or Bo.

Some common questions that were asked (and answered) include:
– Can we use our entrance deposit sooner than planned?
– What if one spouse has more assets than you?
– Is interest being accrued on the entrance deposit?
– How does the Memory Care Unit work?

Much of this information can be extremely confusing and overwhelming..but Channel 973 is here to help! The Spend Down Lecture will air on Monday at 10AM, 2PM, 7PM, 9PM, and 12 midnight. And not to worry if you missed those show times…the episode will also be available the following day online at oakcresttv.com.

So get that pen or pencil out and get ready to take notes!

 

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