Category: Finances

Elder Financial Abuse Often Goes Unnoticed

If it can happen to Mickey Rooney, it can happen to anyone. Elder financial abuse is a real and growing epidemic in the United States, hard as that is to imagine. Unfortunately, we live in a society that too often looks at the elderly as “less than.” Unscrupulous adults who are hard pressed for cash[...]

Five Ways to Retire and Maintain Your Standard of Living

“Don’t spend your old age pinching pennies!” That’s The Wall Street Journal’s plea to aging Americans for whom retirement is coming into view on the horizon. But for many people, pinching pennies will be their only option. Why? Two reasons: Lack of planning and lack of savings. Retirement, like old age itself, sneaks up on[...]

Financial Elder Abuse Is Growing

I am encountering more and more situations in which elders are the victims of financial fraud and abuse. Sometimes the attack comes from the outside (like hackers) and just as often the attack comes from family members and trusted friends. It’s a disgusting act, filled with cowardice on the part of the perpetrators. I came[...]

Tips on Protecting the Finances of an Alzheimer’s Patient

Even for Americans who are not dealing with cognitive disability, managing finances can be very difficult at times. It is therefore no wonder that, for a patient dealing with Alzheimer’s disease, managing money can become an impossible task. A recent article offers several tips to assist a loved one with Alzheimer’s disease to protect his[...]

Resources to Help You Cover the High Costs of Assisted Living

Many Americans pay their assisted living costs out of pocket. Income sources such as Social Security, veteran pensions, regular pensions, and savings are often key to covering these costs. A recent article discusses several other resources that may assist qualified seniors in paying for needed care. Veteran’s Aid and Attendance Benefit If you or your[...]

Financial Issues and Aging Parents

While it may be difficult, it is important to have financial conversations with your elderly parents. These conversations are important because they will best prepare your family to cope when a parent loses the ability to handle his or her money and other affairs. A recent article discusses several issues you should be sure to[...]

Do The Wealthy Use Medicaid?

A common estate planning strategy often discussed is the “Medicaid spend down.” This occurs when a person reduces his or her assets so that he or she can qualify to receive Medicaid benefits. Medicaid, of course, is an entitlement program. Individuals rely on Medicaid as a last resort to cover the astronomical costs of long-term[...]

Protecting Against Elder Abuse in Finances

A recent article suggests that, while senior citizens should plan inheritances and give gifts of money or property if they are willing and able, they should put their foot down when family members ask them to co-sign or guarantee loans. Otherwise, senior citizens may be left with nothing. A little discussed but serious problem facing[...]