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.

Five Ways to Help Pay for Assisted Living

Finances-3.5.2016Planning for Assisted Living is emotionally and financially demanding. With the average monthly cost for a one-bedroom home with around-the-clock care priced at $3,500, many families feel overwhelmed by the sticker price for senior care services. Luckily, there are opportunities that make these services more affordable. In fact, many states have their own benefits programs. Visit Benefits.Gov for a state-by-state breakdown of all the different types …Read more ›

Tax Tips for Seniors and Their Families: Rules, Expenses, and Credits

Finanaces 3.3.2016Many senior citizens and their families are not aware of the various tax rules, benefits, and deductions that apply to them. Terrance Bond, a retired CPA with over thirty years of experience in tax preparation and advice, offers insight to those filing a tax return involving someone over the age of sixty-five. He says that it is best to begin by “determining if the senior can …Read more ›

Senior Assisted Living Is More Affordable Than You Think

FinanceDepending on where you live and the type of care required, Assisted Living services can often exceed a family’s anticipated monthly costs. For many, the initial sticker shock regarding these options may lead them to believe that they simply lack the financial resources to relocate a parent to an Assisted Living community. However, it’s important to remember that these expenses represent a shift in monthly spending …Read more ›

What You Need to Know About Debt Relief for Seniors

debt relief

debt reliefA surprising number of seniors carry substantial debt and can’t find their way out.

(more…)

Tagged with: , , ,

You Don’t Want to Outlive Your Money… Or Do You?

retirement savings

retirement savings“As the TV insurance salesman, the financial advisor, and the financial product promoters all say, ‘You don’t want to outlive your money.’ Well, maybe I do,” says Dr. Stanley Riggs, author of Build Wealth & Spend It All: Live the Life You Earned.

(more…)

Tagged with: , , , , , ,

Do You Really Need Long Term Care Coverage?

long term care

long term careFor some seniors, long term care coverage enables them to peacefully age in place. For others, the insurance is a needless expense. Which category do you fall into?

(more…)

Tagged with: , , , , , , , , , , , ,

Help Your Elderly Parents Avoid Scams Targeting Seniors

scamsScammers are the bane of the senior citizen community. These ruthless and dishonest individuals often target older adults. In some cases, physical or mental impairments make seniors more vulnerable to scams. In other cases, they fall victim because of a too-trusting nature, the lure of a good bargain or the promise of human companionship. Being mindful of scams and safeguarding financial assets are keys to …Read more ›

Tagged with:

Protecting Seniors’ Financial Assets for Future Generations

protect financial assets

protect financial assetsMy grandmother is 90 years old and lives in a nursing home. She worked her whole life and amassed a decent amount of wealth, only to have most of it drained away in her years in independent living, then assisted living, and now in a nursing home with dementia care.

(more…)

Tagged with: , , , , , , , ,

What You Need to Know About Medicare Home Care Benefits

inhome_careIndividuals recuperating from an illness or injury may wish to consider the convenience of in-home care. However, they may be unsure whether they can afford such services. For those enrolled in the Medicare program, the relevant question is: Does Medicare pay for home care? If so, what types of services does Medicare cover? …Read more ›

Tagged with: ,

Work Beyond Retirement? Why Some Think It’s a Good Idea

older_workerWorking past the traditional retirement age of 65 certainly has its advantages, both financial and otherwise. Older adults may wake up every morning with a sense of purpose and fulfillment, knowing that they will be heading to a job where their contributions are valued.

(more…)

Speak To a Senior Living Advisor

Follow us on Twitter!

#ElderCareChat