When a loved one is diagnosed with Alzheimer’s or dementia, families often face grief, stress and
difficult decisions. Figuring out how to pay for care should not be another burden. That’s why Sagepoint is proud to bring back our Sage Advice Community Conversation series on October 15 at 6pm for an evening dedicated to helping families understand their options.
What You’ll Learn
We are honored to welcome Kimberly McClain from the Charles County Department of Social Services. Kimberly will present practical guidance on Paying for Care, providing families with the knowledge and resources they need to make confident decisions.
Her presentation will cover:
Understanding where and how to apply
Documents you will need to apply
Knowing resource and income limits
Understanding Medicaid coverage
Join Us for an Informative Evening
At Sagepoint, we believe that compassionate senior care includes supporting families through the
financial side of caregiving. By equipping families with trusted information, we hope to ease stress and allow caregivers to focus on what matters most—quality time with their loved ones.
This free event is open to the public and we encourage anyone involved with caregiving of a loved one to register.
When a loved one faces dementia, families need more than care—they need comfort, patience and
hope. Our “Caring Hearts” campaign helps make that possible for families in Southern Maryland.
Through this campaign, we aim to provide the specialized care and support needed to preserve dignity, joy and connection for seniors affected by memory loss. As we close out another year, your generosity can make a lasting difference in their lives.
Nearly 50 Years of Compassionate Care
Sagepoint has been here for our senior neighbors, providing care that meets each stage of aging for
nearly five decades. From adult day services to memory care and beyond, we have stood by families
when they need us most.
As the year comes to an end, we invite you to stand with us in making a lasting impact. Together, we can ensure that seniors in our community continue to live with dignity and the compassionate care they deserve.
Join Us in Making a Difference
Every dollar helps provide essential care for seniors in need. Your gift strengthens a circle of support
where seniors with dementia—and the families who love them—know they are valued, respected and never alone.
Donate today to our “Caring Hearts” campaign and be part of something truly special.
Written by Christine M. Parker, CFP®, APMA™, CRPC™, CSRIC®, Wealth Advisor for Family Financial Caregivers
October is Financial Planning Month and includes Estate Planning Awareness Week (October 20–26, 2025)—a timely reminder that protecting a family home or land from tangled title is about more than property; it’s about financial stability and generational wealth preservation. For family financial caregivers, especially women leaders balancing careers and caregiving responsibilities for an older parent or loved one aging in place, this is the perfect moment to take stock: review wills, trusts, and estate plans to ensure deeds are up to date, and work with professionals who can help prevent tangled titles from eroding generational wealth.
A Family Story: How One Piece of Land Was Lost In 2010, my grandmother passed away. She was a widow in her late eighties, and among her real property assets was a 5-acre parcel of land that was part of a farm located in Anne Arundel County, which had been initially divided and passed down by my great-grandparents. Unlike the family home, this parcel was never included in her probated estate. With no legally recognized owner, the property taxes went unpaid for many years. Eventually, the state of Maryland sold the land at a tax sale auction well below market value.
Last year, my grandmother’s heirs were stunned to receive a letter regarding the heirs' property and a “right of redemption.” The news brought more confusion than hope—reclaiming the tangled title would require a costly and complicated legal process. Faced with time constraints and limited options, we watched helplessly as the land was lost.
Aging at Home: What the Numbers Reveal The story reflects a much larger reality. According to the recent Caregiving in the U.S. 2025 report, 44% of care recipients now live in their own homes, and many older adults, particularly women, are aging alone while struggling with high housing costs. These pressures increase the risk that the house and land are at risk without clear estate planning. The likelihood of living alone increases with age, particularly for women; among women aged 75 and older, 42% live alone. Of the 14.8 million households headed by people in this age group in 2021, 78% owned their homes. Yet, as the 2023 Profile of Older Americans from the Administration for Community Living (ACL) notes, homeowners age 75 and older spent an average of 37% of their income on housing. Harvard’s Joint Center for Housing Studies defines households that spend 30% or more of their income on housing as “cost-burdened,” underscoring the financial vulnerability many older adults face even when they own their homes.
Where Care Recipient Lives
Insights on Where Care Recipients Live
For many families, a home or piece of land represents far more than shelter—it is a source of financial security, stability, and generational wealth. Yet without proper estate planning, that wealth can quickly be eroded or lost. One of the most common risks is heirs’ property, which arises when real estate is passed down without a clear legal transfer of title. If someone dies without a will or estate plan, the estate is distributed under state intestacy laws, often leaving ownership “tangled.” In these cases, without a clear title, families and individuals may be unable to secure financing, secure a mortgage, qualify for disaster assistance, or preserve the home for future generations.
Why Tangled Titles Happen and Why They Put Families at Risk
A tangled title occurs when ownership of a home or land is unclear. This can happen when:
A parent or loved one passes away without a will
The deed was never updated, or
Probate was never completed
The financial risks for families are serious:
Multiple heirs may face disputes and challenges in managing the property.
Families may be blocked from refinancing, getting home repair loans, or claiming tax credits.
Disaster relief can be denied or delayed because the Federal Emergency Management Administration (FEMA) requires proof of clear ownership; proof of ownership for heir’s property.
Properties may even be lost in tax sales.
What Research Shows: Who is Most at Risk
A new Urban Institute 2025 report found that these problems are most acute for older, vulnerable adults; communities of color; and families with limited digital access. 42.4% of senior homeowners aged 50 or older do not have a will or trust. Furthermore, only an estimated one in four Hispanic homeowners and one in three Black homeowners have an estate plan in place. The lack of a will or estate plan is one reason for tangled titles. For these households, where a home is often the most valuable asset, tangled title and heirs’ property are a threat to wealth preservation. The research study found that “creating a will or estate plan is one of the most effective ways to protect against these risks.”
Free Help for Maryland Families For low-income families, access to legal aid can mean the difference between losing a home and securing it for future generations. The Maryland Volunteer Lawyers Service (MVLS) is a leading model, offering free support to eligible families across the state, from Baltimore City to rural farmland on the Eastern Shore. Their programs include:
MVLS attorneys and trained volunteers walk families through probate, resolve deed issues, and help caregivers take proactive steps.
Legal Reforms: Progress Made and Gaps That Remain In 2022, Maryland enacted the “Uniform Partition of Heirs Property Act,” its version of the Uniform Partition of Heirs Property Act (UPHPA), which protects heirs from speculators and predatory forced sales and loss of equity by granting cotenant heirs the first opportunity to buy out other heirs and requiring fair market appraisals.
Maryland law does not yet allow beneficiary deeds—simple documents that would enable property to transfer directly to heirs outside of probate while preserving flexibility (unlike a life estate deed), reducing cost and complexity, and preserving step-up in basis. For caregivers, expanding this option would ease stress, reduce costs, and help maintain family homes and land for future generations. Beneficiary deeds are already available in more than half of U.S. states, including Virginia and the District of Columbia, offering a proven, low-cost tool to prevent tangled titles and heirs' property.
Key Insight for Family Caregivers Estate planning begins with a critical first step: compiling a complete inventory of your loved one’s real and personal property and other assets. Some assets are classified as probate property and are distributed through a will—or by state intestacy law if no will exists—while others are non-probate assets that transfer directly to beneficiaries or co-owners through designations or trusts.
If your loved one receives Medicaid for nursing or home care, the state may later seek repayment from the estate. In some cases, this may include placing a lien on the home, with protections in place for certain surviving family members.
With professional guidance from attorneys, financial planners, and nonprofit providers, caregivers can navigate these complexities, reduce stress, and help preserve generational wealth.
Workplace Benefits That Can Lighten the Load Some caregivers don’t realize their workplace benefits may include estate planning and caregiving resources:
Employee Assistance Programs (EAPs) often include free or discounted legal consultations, wills, durable powers of attorney, advance directives, or answering estate questions.
Group legal plans may cover probate guidance and deed issues.
A quick call to your human resources department can help confirm whether these benefits are available to you and whether they extend to loved ones in your care.
How to Prevent Family Conflict Before It Starts Families often postpone estate planning for many reasons—believing their estate falls below the federal exemption limit, assuming there will be time later, avoiding difficult end-of- life conversations, or relying too heavily on verbal agreements. Yet without clear legal documents, families face a higher risk of misunderstandings and costly disputes, particularly in blended families. Estate planning is essential not only to preserve wealth but also to ensure proper care for loved ones who may face advanced care, disability, or special needs.
By documenting decisions and discussing them openly, caregivers can help prevent family conflicts, preserve wealth, and protect relationships.
Three Things You Can Do Today
Start the conversation and gather documents. Make a list of your loved one’s assets and note how each is titled and who is listed as a beneficiary. Collect all your loved one’s estate planning documents, including the will and trust.
Use trusted legal resources. Explore your workplace employee benefits, meet with a local estate planning or elder law attorney, or attend free estate planning clinics such as those offered by MVLS. Only an attorney should draft a will or trust.
Work with a Certified Financial Planner™ professional. A planner can provide you with the clarity, structure, and support needed to turn those goals into a lasting strategy for protecting and preserving generational housing wealth.
Protecting Legacy, Not Creating Liability For caregivers, preserving housing wealth is not only about money; it’s about keeping families rooted, maintaining stability, and honoring the sacrifices of earlier generations. Without planning, even well-intentioned families can lose property due to preventable obstacles, such as tangled titles, overlooked deeds, or costly legal disputes.
The good news is that resources already exist. Community legal aid, supportive workplace benefits, and trusted advisors can help caregivers put protective measures in place. Maryland’s recent reforms show progress, but broader access to tools like beneficiary deeds would make safeguarding property even more attainable.
As the Baby Boomer generation enters advanced age, the window for proactive planning is narrowing. Taking steps now—before illness or incapacity—ensures that homes and land remain sources of security for loved ones, rather than sources of stress.
About Parker Financial, LLC Parker Financial, LLC is an independent, fee-only Registered Investment Adviser (RIA) in the state of Maryland. Founded by Christine M. Parker, CFP®, APMA™, CRPC™, CSRIC®, a Wealth Advisor for Family Financial Caregivers.
This article is meant for educational and informational purposes only and should not be considered legal, tax, or personalized financial advice. Please consult your professional advisers before making any financial decisions.
Millennials, born between 1981 and 1996, are entering a unique and challenging phase of life. Many are part of the Sandwich Generation, raising children while also caring for older parents, often navigating the complexities of cognitive decline and dementia. This dual responsibility can be financially and emotionally overwhelming. However, by aligning money behaviors with deeply held values, millennials can reduce stress, strengthen their families, and make a meaningful impact in their communities.
Navigating the Financial Strain of the Sandwich Generation
According to Pew Research Center, nearly 12% of parents in their 30s and 40s are financially supporting both their children and older parents. This growing demographic—now numbering over 11 million caregivers in the United States—faces significant financial pressures, including career sacrifices, rising healthcare costs, and complex caregiving logistics.
Millennials have grown up witnessing economic uncertainty, from student loan debt to an underfunded Social Security system. Historically, charitable giving tends to decline during tough economic times; however, this generation remains committed to social responsibility and philanthropy. The key to managing financial stress while maintaining these values lies in ensuring financial decisions align with their core beliefs.
Aligning Financial Decisions with Values
Psychological research indicates that when behaviors align with personal values, individuals tend to experience lower stress and greater overall well-being. For Sandwich Generation caregivers, this means making intentional financial choices that reflect their priorities—security, responsibility, and generosity.
For instance, a millennial caregiver who values financial security might prioritize building an emergency fund before making large discretionary purchases. Those who prioritize generosity may dedicate a portion of their budget to charitable giving, even in difficult financial times. What matters most isn’t the amount given; it’s the consistency of support, whether through monetary contributions, time, or advocacy.
The Ripple Effect of Purpose-Driven Giving
When financial decisions align with values, the impact extends beyond immediate family needs. Millennials are deeply engaged in philanthropy, supporting social causes through both donations and volunteer work. A 2021 study by Fidelity Charitable found that 74% of millennial donors consider giving to charity as essential to their identity. The 2025 Lilly Family School of Philanthropy report highlights that while younger generations give in similar ways to older donors, they also leverage technology to enhance their impact—utilizing digital tools for advocacy, online donations, and collaboration with nonprofits.
This commitment to giving is crucial for organizations like Sagepoint Senior Living Services Foundation, which provides vital resources for seniors with cognitive decline. When caregivers witness their donations and volunteer efforts making a tangible difference, they experience greater fulfillment and a sense of purpose amid their responsibilities.
Strategies for Financial Stability While Giving Back
Balancing caregiving responsibilities and financial security doesn’t mean sacrificing generosity. Millennials in the Sandwich Generation can adopt practical strategies to maintain financial stability while continuing to support causes they care about:
Set Clear Priorities – Identify core financial values and make decisions that support them. A solid financial foundation ensures sustainable generosity.
Budget for Giving – Even small, consistent contributions can have a lasting impact without placing a financial strain.
Leverage Employer Matching Programs – Many companies offer donation-matching programs, effectively doubling the impact of your contributions.
Give Beyond Money – Volunteering time, skills, or advocacy can be just as valuable as monetary donations.
Teach Financial Values to the Next Generation – Modeling responsible financial habits and philanthropy helps children develop strong financial principles.
Finding Balance Through Purposeful Giving
Being part of the Sandwich Generation is a complex and demanding role, but maintaining financial alignment with personal values can alleviate stress and provide a sense of control. By making intentional financial choices, caregivers not only support their families but also contribute to causes that resonate deeply, fostering a legacy of generosity.
Sagepoint Senior Living Services Foundation deeply appreciates the support of donors who balance caregiving challenges with a desire to make a meaningful impact. Every act of giving—whether financial, time-based, or advocacy-driven—helps build a stronger, more compassionate community for our aging loved ones.
Written by: Christine Parker, CFP®, APMA™, CRPC™, CSRIC® Founder, Parker Financial, LLC Financial Advisor for Family Caregivers Former Sagepoint Senior Services Foundation Board Member
The information provided is for general educational purposes and does not constitute legal, financial, or tax advice. Please consult a qualified professional for personalized recommendations. Parker Financial, LLC is a Registered Investment Adviser in Maryland. 9300 Endowment Place, La Plata, MD 20646. www.pfadvisers.com
Written by: Christine Parker, CFP®, APMA™, CRPC™, CSRIC®
Investors who hold significant positions in individual stocks face a unique challenge: while the growth potential is considerable, the risks associated with concentrated stock positions can be substantial. One way to address this challenge while supporting meaningful causes is through the tax-efficient strategy of gifting appreciated securities. This approach can help reduce concentrated risk, diversify a portfolio, and offer substantial tax benefits. Here’s how gifting appreciated securities works and how it can align with your philanthropic goals.
Understanding the Risks of Concentrated Stock Positions
What is a Concentrated Stock Position?
A concentrated stock position arises when a large portion of an investor’s portfolio is tied to a single stock. This could happen due to equity compensation, long-term investments in a successful company, or inheritance. While the growth potential is enticing, it exposes investors to significant risk.
Key Risks of Concentration:
Market Volatility: A downturn in a company’s stock price can significantly reduce an investor’s total wealth.
Sector-Specific Risk: Heavy concentration in one industry increases exposure to risks specific to that sector, such as regulatory changes or technological disruptions.
Limited Liquidity: Selling appreciated stock can trigger high capital gains taxes, which may deter investors from diversifying.
Gifting Appreciated Securities: A Dual Benefit Strategy
Gifting appreciated securities offers a twofold advantage: it allows diversification while supporting charitable causes. This strategy helps reduce concentrated risk in your portfolio while positively impacting the community.
Tax Benefits of Donating Appreciated Securities:
Avoid Capital Gains Taxes: Donating appreciated stock directly to a qualified charity avoids realizing the long-term capital gains on that stock, which can result in significant tax savings.
Charitable Deduction: If you itemize deductions, you may be able to deduct the stock’s fair market value, subject to IRS limits. This reduces your taxable income and provides a financial benefit.
Philanthropy and Impact:
Gifting appreciated securities lets you align your financial resources with personal values or corporate social responsibility goals. It also enables you to make a lasting contribution to causes that matter to you. Research has shown donors are likelier to contribute to causes that resonate personally, perceiving a more substantial alignment between their values and the organization’s mission (Halvorsen, Lynch, Brown, & McTernan, 2024).
Estate and Legacy Planning:
Incorporating stock donations into your estate plan can help reduce the size of your taxable estate, offering tax savings while leaving a generous legacy.
Eligible Charitable Giving Vehicles
There are several ways to gift appreciated securities to qualified organizations, each with advantages.
Direct Gifting to Qualified Charities:
Donating stock directly to a 501(c)(3) organization ensures that the charity benefits immediately. Before donating, confirm the nonprofit status using platforms like Charity Navigator, GuideStar, or the IRS Tax Exempt Organization Search to verify its credibility.
Donor-Advised Funds (DAFs):
DAFs offer flexibility and control over charitable giving. By transferring appreciated securities to a DAF, you avoid paying long-term capital gains, receive an immediate tax deduction, and can direct grants to multiple charities over time.
Charitable Remainder Trusts (CRTs):
CRTs combine philanthropy with financial benefits. You can receive income from the trust for a specified period while reducing your concentrated stock position. Additionally, CRTs provide tax savings through charitable deductions and deferring capital gains taxes on sales within the trust.
Strategic Considerations for Stock Donations
Timing for Maximum Benefit:
Consider donating stocks with the highest unrealized gains to maximize tax savings and effectively diversify your portfolio. This approach ensures that you minimize taxable income while achieving your diversification goals.
Integration with Overall Financial Plan:
Stock donation strategies should seamlessly fit into your broader financial and philanthropic strategy. Whether planning for retirement, building your legacy, or supporting charitable causes, ensure that your donations complement your long-term needs and objectives.
Collaboration with Advisors:
Working with financial, tax, and legal advisors is crucial to optimizing the benefits of gifting appreciated securities. They can help ensure compliance, maximize tax advantages, and integrate your gifting strategy with your financial plan.
Steps to Execute a Stock-Gifting Strategy
Evaluate Your Stock Holdings:Review your portfolio to identify over-concentrated positions. Assess the tax implications of gifting appreciated securities.
Choose Charitable Organizations or Vehicles: Select charities or charitable vehicles (like DAFs or CRTs) that align with your values and goals.
Collaborate with Advisors: Work with your financial advisor to plan and execute the transfer of appreciated stock to the chosen charitable entities.
Document the Gift: Ensure all stock transfers are documented adequately for tax reporting and compliance purposes.
Conclusion
Gifting appreciated securities is a smart strategy for managing concentrated stock risk,
achieving tax efficiency, and supporting causes that align with your values. It’s an
effective way to diversify your portfolio while making a meaningful impact on your
community. As always, consult with your financial, tax, and legal advisors to ensure your
charitable giving strategy is optimized for your financial goals and the charitable
missions you support.
References:
Halvorsen, C. J., Lynch, J., Brown, S., & McTernan, M. L. (2024). Approaches to Charitable Giving and Perceptions of Organizational Effectiveness Among Midlevel Donors. Nonprofit and Voluntary Sector Quarterly, 53(4), 926-947. Retrieved on January 23, 2025, from https://doi.org/10.1177/08997640231196888
The heart of any community lies in connection—and through the Sage Advice Series, we’ve witnessed just how powerful those connections can be. To everyone who has attended, shared and supported our events, thank you for making this series such a vital space for education, empathy and support in the world of senior care.
Creative Approaches for Peaceful Caregiving
The Sage Advice Series kicked off this year with a highly successful event in February 2024, where we had the pleasure of hosting author Joan M. Foust, R.N. Known as the “people whisperer” in senior care, Joan shared her expertise on “Creative Approaches for Peaceful Caregiving.” With extensive experience in geriatric care across hospitals, rehab centers and home health settings, Joan’s insights were invaluable. During her presentation, attendees discovered innovative strategies for establishing boundaries, communicating effectively and fostering harmony between caregivers and their loved ones.
August’s Project Lifesaver
Fast forward to August 2024, the Sage Advice Series spotlighted Project Lifesaver, an innovative safety program presented by the La Plata Police Department. This initiative aims to ease anxiety for families with loved ones diagnosed with dementia, autism, or related conditions that may lead to elopement or wandering. During the presentation, attendees learned how this program provides peace of mind and practical solutions for keeping loved ones safe.
Caring for the Caregivers in November
Caregivers give so much of themselves—it was time to give back with an evening dedicated just to them. In November 2024, we offered an evening of relaxation, self-care and practical insights—aptly named “Breath and Balance.” This special event included chair yoga, guided meditation and financial wellness tips, all curated to help caregivers recharge and refocus.
Attendees left feeling refreshed, inspired and better equipped to prioritize their own well-being—and a free week of yoga, generously sponsored by Zentral Station Yoga Studio.
Living with or caring for someone with dementia can feel overwhelming, but our event on February 12 is designed to bring understanding and connection at a whole new level. This immersive session will help participants understand the lived experiences of people with dementia, fostering empathy and compassion in caregivers, professionals and community members.
The event is free and open to everyone—whether you’re a caregiver, a family member, or someone curious to learn more.
Grateful for Your Support
Programs like the Sage Advice Series wouldn’t be possible without the generous support of our donors, sponsors and participants in our annual golf tournament and the people who give during our year-end campaigns.
We extend our heartfelt thanks to everyone who supports Sagepoint Senior Living Services. Your generosity enables us to provide compassionate care and innovative programs that enhance the lives of seniors and their caregivers.
Your caring hearts have shone brightly during our End of Year Campaign and your generosity has been nothing short of incredible. Your support has helped us provide compassionate care to families and individuals navigating the daily realities of dementia. Because of you, we’re able to continue creating those vital moments of connection, dignity and comfort that mean so much.
Every dollar you’ve contributed this year is a testament to the caring hearts that fuel stories of compassion, resilience and hope. You’ve been an essential part of empowering Sagepoint caregivers to create moments of dignity and connection for those living with dementia. Thank you for your caring hearts, your commitment and for being such a vital part of this community.
But the truth is, there’s still so much more work to do. There are over 10 million new cases of dementia each year worldwide, according to Alzheimer’s Disease International. That’s one new case every 3.2 seconds.
Alzheimers, dementia, and memory loss diagnoses aren’t slowing down, until we can find a cure we can offer care. There’s still time to make your impact. Your gift can help transform lives, bring hope and remind our seniors that their moments matter. Every contribution, whether large or small, plays a vital role in strengthening our circle of care. Make your gift today to support families in need of compassionate dementia care.
Together, we can create a community where everyone feels supported, valued and cared for—no matter where their dementia journey takes them. Thank you for being part of our Sagepoint family.
Our 2024 Sagepoint Golf Tournament was an incredible success, and we couldn’t be more grateful to everyone who participated and contributed to making the day so special. Held at the beautiful Swan Point Yacht & Country Club on October 2, the event brought together golfers, sponsors and supporters from across the region, all united by a shared goal—supporting the seniors in our community.
Coming Together for a Great Cause Spirits were high as players teed off, kicking off a day filled with fun and rivalry on the greens. Attendees enjoyed not only the challenge of the course but also a fantastic array of local food and beverage offerings provided by our generous sponsors. Beyond the fun and camaraderie, the tournament was a powerful reminder of the immense support our community shows for Sagepoint and its mission.
Making a Difference Together This year’s turnout was exceptional, with familiar faces and new participants coming together in a spirit of generosity and care. Thanks to this overwhelming support, we are proud to announce that we have made great strides toward our fundraising goals to support dementia care education as well as programs and services. These programs and services are critical in helping families navigate the challenges that come with dementia diagnoses, and we are so appreciative to have the continued backing of such a compassionate community.
Supporting Sagepoint’s Mission While the day was filled with friendly competition, the true highlight was seeing how deeply our mission resonated with everyone involved. Your donations and participation are helping us further raise awareness about dementia and Alzheimer’s, as well as the lasting impact these conditions have on families and communities. Every swing of the club and every contribution has helped to make a difference.
We extend a heartfelt thank you to all who made this year’s Sagepoint Golf Tournament such a success. From our sponsors and participants to the dedicated volunteers and staff, we couldn’t have done it without your enthusiasm and dedication. Your support is truly making a difference in the lives of seniors and their families, and we look forward to building on this success in the future.
We look forward to seeing you next year for another fantastic day of golf and community spirit on September 17, 2025!
Every day is filled with moments that define us—shared laughter, heartfelt conversations and quiet times with loved ones. But for many seniors in our community, these moments are becoming harder to hold onto as dementia and Alzheimer’s take their toll. At Sagepoint, we’re committed to ensuring that no one faces this journey alone, and this year, we’re calling on our community to help.
Through our “Caring Hearts” campaign, we aim to provide the specialized care and support needed to preserve dignity, joy and connection for seniors affected by memory loss. As we close out another year, your generosity can make a lasting difference in their lives.
A Growing Need for Compassionate Care Dementia and Alzheimer’s are on the rise—every year there are nearly 10 million new cases. Here in Maryland, we’re expecting a nearly 20% increase in Alzheimer’s cases in the next few years. For families, the journey is emotionally overwhelming, and finding compassionate, reliable care can feel like an uphill battle. That’s where Sagepoint steps in.
At Sagepoint, we provide not only expert care for seniors but also much-needed support for their families. Whether through our Adult Day Services, Assisted Living or Memory Care programs, we focus on giving each individual the respect, attention and warmth they deserve.
The Power of Your Support By donating to our “Caring Hearts” campaign, you are directly supporting seniors in need. Your contribution helps us expand our services and develop critical caregiver support programs that make a real difference for families. Every dollar you give ensures that more people in our community can access the help and care they need.
Help Us Make a Difference As the year draws to a close, we invite you to join us in making a difference. Together, we can ensure that seniors in our community continue to live with dignity, joy and care. Donate today to our “Caring Hearts” campaign, and be part of something truly meaningful.
As a working family caregiver, balancing the demands of caring for an older parent or loved one with managing your career and financial security can be overwhelming. Many caregivers reduce their work hours or leave their careers early to provide care, significantly impacting their retirement savings and long-term economic health. One of the critical financial challenges caregivers face is the sequence of savings risk.
What is the Sequence of Savings Risk?
The sequence of savings risk refers to the financial challenges caregivers encounter when they are forced to reduce or pause retirement savings due to caregiving responsibilities. This can occur in several ways:
Reduced Contributions to Retirement Plans: When you cut back on work hours or leave the workforce, your retirement accounts, such as 401(k)s, 403(b)s, or IRAs, decrease, limiting your future savings.
Fewer Employer Matching Contributions: By reducing work hours or stepping away from work, you may miss out on employer matching contributions, which can substantially impact the growth of your retirement savings over time.
Lower Social Security Benefits: Social Security benefits are based on your top 35 years of earnings. Work fewer years or at a reduced income. Your Social Security benefits in retirement may be lower than if you had continued working full-time in your higher earning years.
Lower Pension Benefits: Defined benefit pensions are typically calculated based on years of service and average salary, so reduced earnings or time worked can decrease the total pension amount.
Together, these factors create a savings gap that makes it more challenging to accumulate enough wealth to support a secure and comfortable retirement because Americans live longer and healthier lives.
The Impact of Caregiving on Financial Security
Research shows that many workers, including executives and professionals, leave to care for aging family members due to a lack of workplace flexibility and support services. This issue affects individuals across all income levels and career stages. The decision to leave the workforce for caregiving can lead to reduced income, stalled career advancement, and a growing wealth gap as retirement approaches.
Mitigating Sequence of Savings Risk
To protect your financial future while taking care of yourself, consider the following steps to minimize the sequence of savings risk:
Develop a Flexible Financial Plan: Create a plan that considers caregiving responsibilities and potential reductions in income while staying focused on your long-term financial goals. Work with a CFP® professional specializing in planning for individuals managing caregiving duties and who can help you navigate these complexities. To find a qualified CFP® professional, visit the CFP® Let’s Make a Plan website. [CFP® Let’s Make a Plan Website] (https://www.letsmakeaplan.org/find-a-cfp-professional).
Maximize Contributions When Possible: If you are still employed, contribute as much as possible to your retirement plan, mainly if your employer offers a matching program. This will help counterbalance future savings shortfalls.
Leverage Catch-Up Contributions: If you are over 50, take advantage of additional catch-up contributions to your retirement accounts to close the savings gaps created by caregiving-related work disruptions.
Build an Emergency Fund: A substantial emergency fund can prevent the need to withdraw from retirement savings during unexpected caregiving out-of-pocket expenses, preserving your long-term investments.
Consider Care Options: Professional care services like those offered by Sagepoint Senior Services can provide respite and ease some of caregiving’s emotional and financial burdens. Sagepoint offers services like adult day care, assisted living, and memory care, allowing you to continue working and contributing to your retirement savings while ensuring your loved one receives excellent care. Explore employee benefits programs and public and private support services for caregivers.
Maryland’s Family and Medical Leave Insurance (FAMLI) Program
In 2025, Maryland will launch the Family and Medical Leave Insurance (FAMLI) program, providing eligible workers with up to 12 weeks of paid leave to care for themselves or a family member with a “serious health condition.” This includes caring for parents, stepparents, spouses, domestic partners, grandparents, and other family members. FAMLI offers partial wage replacement of up to $1,000, allowing caregivers to take time off without losing their income or sacrificing their employment status.
Starting in July 2025, employees will notice payroll deductions for FAMLI, and benefits will be available the following year. This program is a financial lifeline for caregivers, offering wage support that helps balance work, caregiving, and long-term financial goals.
The FAMLI program will also help alleviate the sequence of savings risk by allowing caregivers to maintain income and continue making retirement contributions while fulfilling caregiving responsibilities. For more information, visit [Maryland’s Paid Leave website](https://paidleave.maryland.gov/workers/Pages/home.aspx).
Guiding an Improved Dementia Experience (GUIDE) Model
The Centers for Medicare & Medicaid Services launched the GUIDE Model this year. In limited areas, this new resource supports unpaid caregivers in navigating the complexities of Medicare services for older adults diagnosed with dementia.
Understanding Medicare coverage is crucial when managing the healthcare needs of a loved one with dementia, as it can help caregivers access essential services like hospital care, home health care, memory care, skilled nursing facilities, and hospice care. The model program provides detailed guidance on Medicare benefits, enrollment periods, and eligibility, making identifying coverage for cognitive assessments, memory care, and long-term care needs easier.
The Maryland Department of Aging administers the Maryland Family Caregiver Support program. It is a resource for family caregivers to care for older loved ones at home for as long as possible. Aging is a dynamic process that leads to new aspirations, abilities, and knowledge we can share with our communities. For more information, visit the [Maryland Department of Aging website] (https://aging.maryland.gov/Pages/national-family-caregiver-support.aspx).
The Role of Sagepoint Senior Services
Nonprofit organizations like Sagepoint Senior Services are crucial in supporting family caregivers in rural communities. Sagepoint offers professional care services, including part-time adult day care, full-time assisted living, and memory care. These services provide high-quality care for aging loved ones while enabling caregivers to maintain financial security by continuing to work.
By utilizing services like those offered by Sagepoint, caregivers can reduce the stress of caregiving while still contributing to their retirement savings and safeguarding their future financial well-being.
Conclusion: Balancing Caregiving and Retirement
Caring for an aging loved one is a rewarding but challenging responsibility, often placing significant financial strain on families. Addressing the sequence of savings risks associated with caregiving is crucial to safeguarding your long-term financial health and wellness. Developing a comprehensive financial plan, leveraging government support resources, and exploring community services like those offered by Sagepoint can help mitigate these economic risks. Finding this balance allows you to fulfill your caregiving responsibilities without compromising your future financial security.
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Christine Parker, CFP®, APMA®, CSRIC®, is the sole practitioner and founder of Parker Financial, LLC, an independent fee-only Registered Investment Adviser based in Maryland. At Parker Financial, LLC, our Guardian Wealth Care services are designed to support high-earning professionals facing the physical, emotional, and financial complexities of family caregiving for older parents.
Christine holds multiple professional designations, including CERTIFIED FINANCIAL PLANNER™ (CFP®), Accredited Portfolio Management Advisor℠ (APMA®), and Chartered SRI Counselor℠ (CSRIC®). She is pursuing a Master of Science in Personal Financial Planning at the College for Financial Planning and a Bachelor of Science in Business Administration with a Minor in Finance from the University of Maryland University College.
In addition to her professional work, Christine has held numerous leadership roles in community organizations, including past president of the Financial Planning Association of the National Capital Area and past chair of the Sagepoint Senior Services Foundation. She is also actively involved in several other nonprofit boards and committees. Please visit Parker Financial, LLC website for more information.
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