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The “forgotten middle” impacts about half of those over the age of 65. They have between $50,000 to $2,000,000 in retirement savings, pensions, assets and investments. The “forgotten middle” is often advised to spend down their income and investments until they are bankrupt to receive services from their county or state Medicare programs with a five year look back on their finances (may differ by state and for Veterans). On the other hand, they have too much money to receive services to help with care, quality advice and housing.

Aging in Place allows many to conserve their savings, be in familiar surroundings, and be involved with family or give back to their community. Many older people are choosing to live with family or Solo Seniors consider co-housing or roommates to conserve funds and receive help from their neighbors and trusted friends. To make this work, older adults are looking into family caregiving agreements to pay loved ones for their care. When anyone can gift up to $16,000 per person tax free, this becomes a solution that allows family members to afford taking care of their parents or loved ones. Planning this in advance helps older adults remain active, engaged in their community or family, and keep their dignity while being surrounded by the people they love and trust.