Latest news with #Hancox
The Citizen
03-08-2025
- Business
- The Citizen
Tips on how to decide who pays to look after elderly parents
Who pays for your elderly parents care is usually the responsibility ofall the children, but not everyone can afford to. With the cost of living increasing more than our parents would have thought, and with them living longer, many are now in a position where they have to depend on their children to pay for their care because their savings fall short. While the responsibility of caring for elderly parents has long been a deeply held value in many South African families, changing social and economic dynamics are reshaping how this care is shared among siblings, Lee Hancox, head of channel and segment marketing at Sanlam, says. 'Today, more adult children are navigating complex caregiving roles, often balancing work, distance and family life, while still honouring the cultural importance of supporting their parents. Even if care for elderly parents is a shared value, the means and methods of providing that care can differ, especially when siblings have different financial situations or 'money personalities'. 'In many South African families, caring for elderly parents is a natural extension of family responsibility, but the way siblings approach this care, especially when financial resources and priorities differ, can be complex.' Even in families where love and commitment to eldercare run deep, siblings may approach financial responsibility in different ways. These differences, often shaped by personal experiences, values and financial habits, can lead to misunderstandings or tension, she warns. 'You might have one sibling who is more spontaneous, wanting to act quickly, provide the best care possible and spare no expense. Meanwhile, another might be methodical, carefully weighing what is affordable and sustainable. Both approaches come from love, but without a shared plan and open communication, these differences can create tension – especially under pressure.' ALSO READ: Warning! The retirement savings gap is widening in South Africa Drawing from professional expertise and personal insight, Hancox shares her top tips to navigate this emotional financial terrain: Start saving for your own retirement from day one Supporting your parents as they age is a profound act of love and respect – one that many South Africans embrace as part of their family values. But it is also important to care for your own financial wellbeing in the process. 'Planning ahead is important. Retirement is not just about reaching a certain age but about preparing for the decades that may follow, including medical costs, frail care and maintaining dignity in daily life.' Hancox says even small steps to save and set financial goals can make a meaningful difference. 'Creating clear boundaries around what you can realistically contribute, both financially and emotionally, can help protect your future and that of your children, while still honouring your commitment to your parents.' ALSO READ: Funding the family: Black tax and the 'sandwich generation' are on the rise Have the tough conversations early, with your parents if possible Initiating conversations about your parents' future care and financial plans can feel uncomfortable, but it is an important step in supporting them with dignity. 'It is not always easy to ask, but having these discussions early can help avoid stress during a crisis.' Hancox says if your parents are in a home that is becoming difficult to maintain, gently explore the idea of downsizing or adapting the space. If their medical cover is limited, investigate options together while there is still time to plan. 'And if emotions run high, consider involving a financial planner or family lawyer – someone neutral who can guide the conversation and help shape a plan that respects everyone's needs. Even meeting in a relaxed setting, like a coffee shop, can help ease the tension and create space for honest dialogue.' ALSO READ: Black tax is hitting a generation regardless of skin colour Find common ground with siblings When your siblings have different financial habits or 'money personalities', planning for a parent's care can be complex. But rather than focusing on differences, it helps to centre the conversation on shared values and your parent's wellbeing, Hancox says. 'A respectful, structured approach can make space for everyone's voice and lead to practical solutions.' She says you can consider preparing guiding questions in advance: What kind of care would Mom or Dad feel most comfortable with? What can each of us realistically contribute – financially, emotionally, or in terms of time? How will we manage unexpected costs together? 'Some may prefer a detailed budget and contingency plan, while others may value flexibility and responsiveness. It is also important to acknowledge who is providing most of the hands-on care and explore how others can support consistently, whether through financial contributions, emotional support, or taking on specific tasks. Open, empathetic dialogue can help families honour their shared commitment while navigating the realities of caregiving.' ALSO READ: Black tax survival guide: Getting your financial groove back Remember what is best for Mom and Dad Hancox says you may never be able to fully measure the sacrifices your parents made, but you can honour them in a way that is sustainable for you and your family. 'That means finding a balance, supporting them with care and dignity, while also protecting your own financial wellbeing and peace of mind.'
Scoop
29-06-2025
- Health
- Scoop
Many Rentals May Still Fall Short As Healthy Homes Deadline Arrives
As winter grips the country, many Kiwis will go to sleep tonight in rental homes that may still be putting their health at risk. From midnight tonight, all private residential landlords must ensure their properties fully comply with the Healthy Homes Standards - a legal requirement introduced in 2019 to make rental homes warmer, drier, and healthier. These standards introduced minimum standards for heating, insulation, ventilation, moisture ingress and drainage, and draught stopping in rental properties. Yet despite having six years to prepare, questions remain about how many rental homes will truly be compliant come July 1. The Asthma and Respiratory Foundation NZ warns that without effective enforcement, these standards risk leaving tenants, especially those with respiratory conditions, exposed to cold, damp homes that threaten their health. Foundation Medical Director Professor Bob Hancox says one thing we have learnt from research into housing and health in New Zealand is that many homes are too cold and too damp. "Having a warm and dry house is very important for respiratory health, particularly for people with respiratory diseases such as asthma or COPD. "Improving the quality of housing is one of the best ways to help people stay well through the winter." Currently, landlords can self-certify that their property meets the Healthy Homes Standards, and there is no requirement for an independent, physical inspection of the property. "Implementing the healthy homes standard would go a long way to keep people out of hospital and GP clinics, but at the moment, we don't know how well the standards are being applied," Professor Hancox says. The Foundation is renewing its call to the Government to require independent, accredited assessments of all rental homes to ensure that the Healthy Homes Standards are actually being met. New Zealand Institute of Building Inspectors Chief Executive Neville Scott says the fact that landlords can self-certify is a loophole that undermines the intent of the law. "We fully support the Foundation in their call to Government, as we see - all too often - cases where properties are signed off by landlords but clearly fall short of the standards. "Without qualified, independent inspections, there's no way to guarantee consistency or integrity in the process," he says. "It's like letting drivers issue their own warrants of fitness." According to Tenancy Services NZ, more than 600,000 households rent in New Zealand, and research shows that rental stock is of poorer quality than owner-occupied homes. A recent report by Stats NZ on housing in New Zealand revealed that almost 30 per cent of households that did not own their home experienced dampness at least some of the time. Those same households were more likely to experience visible mould over A4 size at least some of the time (22.9 per cent). Dr Lucy Telfar-Barnard, public health researcher and member of the Foundation's Scientific Advisory Board, says the current state of many rental properties is both unacceptable and avoidable. "We're still seeing families living in mouldy, poorly ventilated homes that actively worsen chronic conditions like asthma. "Effective enforcement of the healthy homes standards is essential for protecting our most vulnerable populations and reducing health inequities." The Foundation's call is part of its ongoing commitment to improve the health outcomes of those living with respiratory conditions in NZ.
