Retirement! The mere word conjures fond thoughts in many of us who aren’t there yet but close enough to dream. Dream, that is, until thoughts of the money we need jolt us to reality. When it comes to retirement finances, many of us not yet there treat Social Security as only a secondary piece of… Continue Reading
Category Archives: Senior Financial Topics
Advance Directives: When a Power of Attorney Holder Becomes Incompetent
Advance directives — including living wills and, if desired, Do-Not-Resuscitate (DNR) orders — for our senior loved ones and even family caregivers are very important, we believe. Making end of life wishes clear is crucial, both for each individual and their family members. It’s also vital to designate who will look out for your interests… Continue Reading
TeleHealth Covered by Medicare: A Fit for Your Senior’s Needs?
Technological evolution — and sometimes revolution — for the benefit of our senior loved ones is one of our favorite topics here at Senior Care Corner. We are strong supporters of the role technology can play in the well-being, both physically and mentally, for all of us as we age. Especially exciting is the thought… Continue Reading
Seemingly Helpful Mobile Apps Prompt Security Warnings & Reminders
Phishing fears drove a recent warning for those downloading any of a number of seemingly helpful smartphone apps made for both Android and iPhone users. The apps were 0stensibly designed to gain access to Thrift Savings Plan (TSP) accounts, which are retirement savings accounts for federal government employees and those who serve in the military.… Continue Reading
Big Data Has Big Meaning for Seniors & Family Caregivers
Big Data and seniors? What do they have to do with each other — and what IS Big Data, anyway? Actually, the business community’s passion for big data (depending who’s using the term it may be upper or lower case) and its analysis should mean seniors and their family caregivers will find products and services… Continue Reading
Seniors’ Financial Identity Under Attack – Senior Care Corner Show Discussion
Seniors’ finances ARE under attack from those who want to take their money or make money stealing their identities to impersonate them. This episode of the Senior Care Corner Radio Show addresses how we can help our seniors protect what they have from ID theft. Of course, everyone’s finances are under attack, but our mission… Continue Reading
Family Mediation: Resolving Differences Regarding Senior Loved Ones’ Care
Family differences abound. Usually we can work them out but some are tough to resolve. Many families find themselves at odds about how to care for their aging loved ones, something that’s likely to grow as the population of the US continues to age. The hardest times seem to come when care needs or location… Continue Reading
Medicaid: Is It What Your Senior Loved One Needs?
FACT: there are more than 40 million people in the United States who are 65 years old or older. Over one third of these elders have household incomes below 200% of the poverty threshold — $20,916 for individuals and $26,388 for couples. In excess of 5 million of these seniors need long term care assistance… Continue Reading
Donating that Old Computer or Smartphone? Great – But Do it Safely!
Giving senior loved ones new computers, tablets or smartphones – or helping them to buy one of their own – is growing in popularity as more are becoming active online and with social networking. It sounds like tech devices were popular gifts for aging parents and grandparents this holiday season – and sometimes gifts they… Continue Reading
Retirement a Scary Idea Financially for Senior Loved Ones? If So…
Retirement is a subject of much anticipation for many of us who’ve not yet achieved it. We hope to finally be able to do some of the activities we have either put off or not had enough time for in the past. More people these days are reaching the age of retirement, including our senior… Continue Reading
11 Scam Fighting Tips for Senior Loved Ones (And Us)
Senior adults are often the target of unscrupulous people trying to get something from them. As their loved ones, we want so much to keep them out of harm’s way, especially when it’s the parents who protected us from the world a lifetime ago. Unfortunately, seniors are often easy prey for these criminals. Scam artists… Continue Reading
Long Term Care Planning With Senior Loved Ones – Part 2: Actions
Planning ahead to meet the long term care needs of senior family members can help to make less traumatic a transition that’s often difficult, though necessary for the well-being of aging loved ones. Last time, in Part 1, we discussed long term care options and explained the most common choices and what to consider when… Continue Reading
Successfully Navigating the Medicare System with Senior Loved Ones
Over time many caregivers of senior loved ones find themselves taking on many more challenges than ever imagined. It certainly doesn’t stay as easy as simply going grocery shopping or preparing a meal for them anymore. One of the tasks for which we may find ourselves taking responsibility is their health care financing. Do they have… Continue Reading
Will You Be Responsible for Repaying Medicaid for Your Parents’ Bills?
Caregivers, especially those who have been responsible for aging parents for a long time, have typically spent some of their own money to help provide care. While some seniors may have put aside money for their golden years or have purchased long term care insurance, many have few resources and those they were counting on… Continue Reading
9 Senior Financial Management Tips for Family Caregivers
We’re are concerned about keeping our finances strong and hope to retire with enough money to be happy and healthy. This may not be easy, especially for our senior loved ones who have not been putting away enough for retirement or survive hits such as those from health issues or downturns in the economy. Our… Continue Reading
Don’t Let Social Media and Online Deals Bypass Our Senior Loved Ones
Many seniors pride themselves on their ability to seek out the best deal for many of the items they need or want to purchase. The trying financial times of the last few years have made that skill even more important, turning what for many was a pastime into a necessity. Jokes about seniors and early… Continue Reading
When Senior Loved Ones Don’t Live in Their Home Anymore
There comes a time for many family caregivers when they must face not only the physical decline of their aging senior loved ones or perhaps the loss of those loved ones, but must also deal with an empty family home. What should you do with the family home when your parents are no longer able… Continue Reading
Medicare Basics for Family Caregivers of Seniors
Medicare is a health insurance plan administered by the federal government for seniors 65+ years old, people under 65 years if they have a disability or anyone suffering from end stage renal disease requiring dialysis or a transplant. It guarantees access to health insurance for seniors. Medicare was established and signed into law by President… Continue Reading
Tax Time Tips for Family Caregivers of Seniors
Tax time in the U.S. is around the corner and with its arrival comes opportunity – yes, you heard right – for family caregivers of senior adults. While caring for senior loved ones is typically done as an act of love, the financial cost to family caregivers can be significant. When living expenses exceed the… Continue Reading
Reverse Mortgage: Right Answer for Your Senior Loved Ones Aging in Place?
Too many of our senior loved ones are trying to get by on retirement savings that have been beaten down by the recession and further eroded by their desire to help family members hit even harder. We as family members want to help them make their elder years more comfortable. We will talk more generally… Continue Reading
