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Financial Exploitation In Seniors And The Importance Of Financial Management Intervention

financial exploitation seniors financial management intervention

The number of individuals in the United States aged 65 years old and above is steadily increasing. In other words, more and more people may need assistance in personal and financial care. And the reason for this is that they are already vulnerable to abuse, with financial exploitation as being one of the most common forms of fraud that is committed against the aging population. What is financial exploitation in seniors? Why is it considered …

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Hidden Money Can Be A Sign That An Older Adult Needs Assistance

seniors hidden financial assets

Hidden money and valuables may be a common occurrence in the home. In addition, Individuals tend to accumulate items that have sentimental value to the family over time.  However, these tendencies may also be a sign that an older adult needs assistance. These habits may make it difficult to locate items of value and treasured objects may be permanently lost. And it may get even more challenging, especially if the older adult is experiencing memory …

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A Guide for Older Adults: Suggestions for Managing Financial Resources

guide older adults managing financial resources

Age is often associated with maturity, and with maturity comes wisdom. However, at any age, individuals may not make smart money decisions.  Even though individuals may have made financial mistakes throughout their lives, it is never too late to correct the course.  So for older adults who are still capable of making practical decisions, the subject of money management becomes a primary consideration.  In addition, this is a stage when individuals should think about the …

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5 Components Of A Successful Caregiving And Monetary Management Meeting For Older Adults

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As your parent ages, the need for providing care may be something that the whole family wants to discuss. And this is also true with handling their finances and payment of bills. That’s why holding a family meeting to make care, financial, and bill payment management decisions for your parents is important. Without having a meeting, those who are not directly involved in providing care may not make an effort to help out. Likewise, they …

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Financial Scams Affecting Seniors Today

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Unfortunately, numerous deceitful individuals often target seniors to take advantage of them and defraud them, ultimately stealing money from them.  Scammers often focus their devious efforts on the elderly because they know that older adults may be more vulnerable. And since senior citizens may be trusting of others, especially those that exhibit kindness and attention, they may become victims of thieves who rob them of their personal information, bank accounts, and even assets. Read more …

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Steps In Household Bill Management For Seniors

household bill management seniors

Organizing household bills is crucial and necessary when caring for a senior. And more often than not, bills can be complicated and filled with errors. Not to mention the fact that sometimes expenses may exceed the older adult’s budget. So if this sounds familiar to you, then we suggest that you keep reading as we are going to break down household bill management into 5 easy steps. And we hope that this list can provide …

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How To Talk To Your Parents About Hiring A Financial Advisor For Seniors

talking to parents financial advisor

When was the last time you had an awkward talk with your parents? Most likely your answer would have something to do with the stupid things you did when you were young, right? But what about money matters particularly, the handling of money during old age? Surely, the mere mention of this topic would make you uncomfortable in some ways since we expect older adults to be more experienced in this facet of life. Yet, …

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The 3 Reasons Why Older Adults Usually Avoid Handling The Money Of Elderly Parents

why older adults avoid handlng elderly parents money

Health crises, cognitive issues, and deteriorating physical well-being – these are some of the challenges a senior may experience as he or she ages. These challenges may affect various aspects of one’s personal life including the area of finances. When an elderly person is no longer capable of handling his or her finances, an adult child may be asked to assist.  However, apprehension may arise when this topic is addressed. We will outline 3 of …

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How Cognitive Impairment Affects Senior Financial Management

cognitive impairment senior finances

Money management is an essential skill for individuals to maintain a good quality of life and to live independently. When an elderly individual suffers from cognitive impairment, the ability to manage money may become challenging and overwhelming. So in this blog post, we are going to share some facts about cognitive impairment and how it can affect senior financial management. Definition Of Cognitive Impairment Clinically speaking, cognitive impairment is defined as the loss of rational …

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How A Bill Paying Service Company Can Help Seniors

senior bills payment company

Paying bills on time is a common dilemma for seniors. Another issue is spotting mistakes in bills. So if a senior member of your family is having a problem with bill paying, then you may want to consider hiring a professional company to help, much like you may do for tax preparation. One solution to this a bill paying service. And to learn more about this, we suggest that you continue reading as we are …

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