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Be prepared for unexpected expenses.

Have access to credit for home improvements, car repairs, or paying off high interest rate debt.

If you are planning ahead for the day when you may need to financially support your parent, start early and try to manage your money in dedicated funds or “buckets,” including one for the money needed to care for mom or dad. The size of this bucket depends on your parents’ needs and resources. Click here for more information and tips on how to prepare for caring for aging parents.