Ultimate Guide to Burial Insurance for Seniors

Ultimate Guide to Burial Insurance for Seniors

With about 40% of adults in the U.S. foregoing life insurance, it makes sense to discuss how this can affect family members and close friends. For those of you who have played a part in financing a funeral when an uninsured family member or friend has passed away, certainly, you are intimately familiar with the financial burden that can accompany the grief of losing a loved one or close friend. Ultimate Guide to Burial Insurance for Seniors When the market crashed in 2007, practically every working person in America felt the impact. Many seniors who were hoping to stop working postponed

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Life (and Death) Happens: Why a Plan Is So Important

Growing up as the youngest of seven children I was surrounded by many maternal figures. The age difference between me and my oldest sister is sixteen years. In addition to the love from my parents, my siblings made sure I had everything I needed – everything except a plan for the unthinkable. At 10 years old, life was “normal.” I was doing well, going to school and hanging out with my friends. My childhood home was in the suburbs of Palm Desert, Calif. My siblings and I really didn’t want for anything. My father owned his own contracting business and

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Ultimate guide to prepare for a bright and enjoyable retirement

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Financial security is necessary, more at the age of retirement, and it just does not happen, it needs planning and confinement. Anyone who dreams for a happy and secure retirement, they need to figure out what exactly it means for them. Everyone should have some planning and set goals for their retirement, to have a fun, secure and comfortable retirement. Financial expert at Edumagnate suggests, preparing for retirement starts with examining the goal and time you have for that. After that, you need to check for various types of retirement planning experts and companies, who just raise not the only

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Death and the Family Hunt for Hidden Assets

Saving Money After Retirement

Where are you hiding assets? Are they stored away in a locked trunk in your attic? Are they located in boxes stacked on the back wall of your moldy basement? Or did you pile your valuable art and antiques in an off–site storage unit located two towns over from your house? Death and Family Hunt for Hidden Assets Do you have several passbook bank accounts from various banks scattered in the four towns you once lived in or three 401K Plans from prior employment? Have you hidden jewelry in tattered shoeboxes in the back of a third floor closet or in

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Tax Credits and Deductions for Seniors

Senior Man Filing Tax Report

10 Ways Older Adults Can Reduce Tax Bills Starting at Age 50 Everyone wants to keep more of their hard-earned money. Luckily for seniors, many of whom are on a fixed income, there are several ways for them to save on taxes. With one out of three seniors aged 70-79 having saved less than $100,000 for retirement1, every deduction counts.  A good way to make sure you aren't missing out on deductions is to get professional guidance. There are free tax preparation services available to seniors through the IRS and AARP. Also, those with income under $69,000 per year can

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Don’t Expect Medicare to Pay for Long-Term Care

A recent survey funded by The SCAN Foundation found close to four in 10 Americans, age 40+, believe Medicare and Social Security will pay for long-term care. The need for continuing care services and support to assist with activities of daily living will increase as the population ages. The group will require help with cooking, bathing, grooming, shopping, managing medicines, and toileting. Thirty-eight percent of the people surveyed in the 2016 Long-term Care in America report said they will rely on Medicare to pay. Correspondingly, 35% will count on Social Security and personal savings while 32% expects to depend on

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Increasing Financial Confidence of Older Americans and Adult Children

Young female explaining her senior father how to fill in paper

Do These Things for Better Retirement Planning Retirement planning is at the forefront of a lot of Americans’ minds, considering a top concern is not having enough money. Magnifying this is stock market cycles surrounding COVID-19. Those who felt confident at the beginning of 2020 now have reason to question their preparedness. Moreover, adult children are getting increasingly involved, asking new questions related to economic concerns, healthcare costs and living arrangements. Are older Americans and their children/caregivers on the same page? We asked more than 1,300 American adults 65 and older to share their perspectives on personal finances, retirement decisions

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10 Job Roles For Aging Parents

Senior gardener selecting a tree.

Many people believe that they are now old and don't have to work anymore, but this isn't the case anymore. With growing age, you learn many lessons, and one of these is to work as long as you can and put your experience to good use. It is best if you never relied on others, not even your children. Moreover, working elders are more likely to stay fit and healthy for longer because their brains and bodies are active. According to a research report by the Bureau of Labor Statistics (BLS), more than 40% of old age people ranging at

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