Let’s face it: If you haven’t saved enough for retirement, there’s no magic bullet that will stack your accounts with cash. But there are steps you can take to improve your financial situation—if you’re willing to put in the effort.
Finances Articles
How much does it cost to live in a senior community? This is the first and most important question for most families beginning their search for senior living options. Understanding your loved one’s typical expenses and then budgeting appropriately are necessities with which a Senior Living Advisor can provide help. After reviewing the costs of living alone or with in-home care, you may find senior community living more affordable than you would expect.
A Retirement Savings Rescue Plan
What Seniors Need to Know This Tax Season
None of us can escape tax season, not even when we get older. Those over 65 have various tax considerations that come into play with regard to Social Security income, age-related deductions and credits, IRA distributions, medical expense deductions, and more. Below is some general information for older adults and their families to consider for this …Read more ›
The Best-Kept Secrets of Senior Living Financing
Think you know the ins and outs of paying for senior living? These financial facts may surprise you!
Parent in Debt? What Do You Do?
As you contemplate your parents’ need for assisted living, memory care, skilled nursing, or in-home care, you may be worried to discover that they have more debt than you realized.
What if they have a mortgage or home equity loan with a substantial balance? Or a car loan that they’ve been struggling to pay off? Or a credit card that is …Read more ›
Your Pre-New Year Retirement Countdown
As you prepare to count down to a new year, have you also considered your retirement readiness?
Tagged with: budget, finance, holidays, insurance, life insurance, long term care insurance, managing finances, medicare, retirement, seniors
Should You Sell Your Life Insurance Policy?
If you can’t afford life insurance premiums into retirement and you’re considering surrendering your policy, don’t throw in the towel just yet. Instead of getting little to nothing for your policy, you can work with a life settlement company to secure a solid chunk of your benefit—without paying further premiums.
Tagged with: finance, how to pay for care, insurance, life insurance, life settlement, long term care, paying for care, senior care, seniors
How Can Seniors Boost Their Credit Score?
Recently, we highlighted 5 reasons credit scores matter for seniors. As Freddie Huynh, Freedom Financial Network’s vice president of credit risk analytics, points out, a good score gives seniors options. On the flip side, he cautions that a low score can limit choices. So what can you do when your score is lower than …Read more ›
Understanding Medicaid Rules
Your parent’s assets are dwindling after several years in assisted living. Now you are worried: How can my parent continue living in the place he or she calls home? Medicaid is the national social safety net that can be used for long-term care for low-income individuals, but there are rules, regulations, and eligibility requirements you should know. …Read more ›
Tagged with: medicaid
Do Credit Scores Matter for Seniors?
Buying a home, leasing a car, and refinancing a student loan—all of these activities take credit scores into account. But since most of these investments seem geared toward young adults rather than seniors, you might assume credit scores lose value past a certain age. Unfortunately, that kind of thinking can hurt you.
Tagged with: assisted living, credit reports, credit scores, finance, retirement, senior care, seniors
The Biggest Barriers to Veterans Pension Benefits
Between a complicated application and eligibility process, misinformation about veterans benefits, and outright scams, it’s no wonder that Aid and Attendance is the most underutilized VA benefit. (more…)
How much does it cost to live in a senior community? This is the first and most important question for most families beginning their search for senior living options. Understanding your loved one’s typical expenses and then budgeting appropriately are necessities with which a Senior Living Advisor can provide help. After reviewing the costs of living alone or with in-home care, you may find senior community living more affordable than you would expect.
A Retirement Savings Rescue Plan
What Seniors Need to Know This Tax Season
None of us can escape tax season, not even when we get older. Those over 65 have various tax considerations that come into play with regard to Social Security income, age-related deductions and credits, IRA distributions, medical expense deductions, and more. Below is some general information for older adults and their families to consider for this …Read more ›
The Best-Kept Secrets of Senior Living Financing
Think you know the ins and outs of paying for senior living? These financial facts may surprise you!
Parent in Debt? What Do You Do?
As you contemplate your parents’ need for assisted living, memory care, skilled nursing, or in-home care, you may be worried to discover that they have more debt than you realized.
What if they have a mortgage or home equity loan with a substantial balance? Or a car loan that they’ve been struggling to pay off? Or a credit card that is …Read more ›
Your Pre-New Year Retirement Countdown
As you prepare to count down to a new year, have you also considered your retirement readiness?
Tagged with: budget, finance, holidays, insurance, life insurance, long term care insurance, managing finances, medicare, retirement, seniors
Should You Sell Your Life Insurance Policy?
If you can’t afford life insurance premiums into retirement and you’re considering surrendering your policy, don’t throw in the towel just yet. Instead of getting little to nothing for your policy, you can work with a life settlement company to secure a solid chunk of your benefit—without paying further premiums.
Tagged with: finance, how to pay for care, insurance, life insurance, life settlement, long term care, paying for care, senior care, seniors
How Can Seniors Boost Their Credit Score?
Recently, we highlighted 5 reasons credit scores matter for seniors. As Freddie Huynh, Freedom Financial Network’s vice president of credit risk analytics, points out, a good score gives seniors options. On the flip side, he cautions that a low score can limit choices. So what can you do when your score is lower than …Read more ›
Understanding Medicaid Rules
Your parent’s assets are dwindling after several years in assisted living. Now you are worried: How can my parent continue living in the place he or she calls home? Medicaid is the national social safety net that can be used for long-term care for low-income individuals, but there are rules, regulations, and eligibility requirements you should know. …Read more ›
Tagged with: medicaid
Do Credit Scores Matter for Seniors?
Buying a home, leasing a car, and refinancing a student loan—all of these activities take credit scores into account. But since most of these investments seem geared toward young adults rather than seniors, you might assume credit scores lose value past a certain age. Unfortunately, that kind of thinking can hurt you.
Tagged with: assisted living, credit reports, credit scores, finance, retirement, senior care, seniors
The Biggest Barriers to Veterans Pension Benefits
Between a complicated application and eligibility process, misinformation about veterans benefits, and outright scams, it’s no wonder that Aid and Attendance is the most underutilized VA benefit. (more…)