Caring for an aging loved one often comes with unexpected costs, leaving many families struggling to afford essential care and support. The good news? Financial assistance programs exist to help ease the burden for seniors and their caregivers. From healthcare subsidies to home modification grants, these resources can make a meaningful difference in quality of life if you know where to look.…
Elder financial abuse destroys lives and costs seniors a whopping $37 billion each year. Dr. Stacey Wood, Ph.D, one of the nation’s leading experts on elder financial abuse, shares 8 ways caregivers can help seniors avoid scams and fraud. Today, people over age 50 hold over 70% of the country’s wealth. But elder financial abuse is all too common. Fraudsters target…
Having a joint bank account with an aging parent or loved one you’re caring for might seem ideal. After all, it can make it easier to handle daily money matters for your loved one. Of course, nothing is ever as simple as it might seem when it comes to caregiving. Joint bank accounts are no exception. There are pros to having a…
Juggling a career and being a primary caregiver can feel exhausting and unsustainable. Before deciding to quit your job to take care of an aging parent full time, assess your financial situation by asking these 7 important questions from LendingTree. The demands of providing care for a parent or loved one can be steep. As illness or aging progresses, many people…
Not only does caregiving impact you physically, mentally and emotionally, it can also negatively affect your financial health. LendingTree shares 7 ways to protect your finances when you’re a caregiver. Becoming a family caregiver often doesn’t just impact you physically, mentally and emotionally – it can drain your finances too. A 2018 survey from Northwestern Mutual found that 68% of family…
Over the past year, the pandemic has put caregivers under increased financial stress in addition to increasing their caregiving responsibilities. LendingTree shares tips on how caregivers can maximize their budgets during the post-pandemic recovery. The pandemic has had a profound effect on seniors. Deaths and hospitalizations from COVID-19 were substantially higher among people aged 65 and up – many of whom…
When seniors are considering a move, one important factor to consider is the state taxes. Before making a decision, take a look at the best and worst states for seniors to live in, based on taxes, shared by SeniorLiving.org Research. For many caregivers, 2021 is a time to consider whether they, or the family member(s) they care for, should move closer to…
Scams and fraud are a serious threat to seniors Fraudsters destroy seniors’ lives by stealing their hard earned savings. An estimated $36 billion is stolen each year and nearly 4 out of 10 older adults in the U.S. are affected by financial abuse. Many seniors would never imagine that someone would lie and cheat to steal their money. By knowing about popular…
Stay aware to prevent senior fraud Heartless scammers steal $36 billion from American seniors every year. They prey on older adults because they’re more likely to have savings and are more vulnerable to high-pressure tactics. Common scams targeting seniors include calls from fake IRS and fake Medicare representatives, people pretending to be contractors who repair houses, or fraudsters selling fake or predatory…
Avoiding end-of-life conversations is a natural tendency. But not having the proper legal documents in place could create big problems and possibly become very expensive if your older adult becomes incapacitated or suddenly passes away. Bestow shares 5 essential end-of-life documents that seniors need to complete. When it comes time to face end-of-life issues, the majority of Americans are unprepared. According…
