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Aging

Elderly Mental Health Statistics

by Kendall VanBlarcom
written by Kendall VanBlarcom

Like every population, there is a lot of variety among older adults. But it can be helpful to talk about elderly mental health statistics so we know when to take notice. Because while many have good mental health, others are vulnerable to mental health issues and cognitive deterioration.

A Growing Population

The world population is aging. It is estimated about 8.5 percent of people worldwide are aged 65 and over and this percentage is expected to rise to nearly 17 percent of the world’s population by 2050.

It is common for mental health issues to be ignored or misdiagnosed by healthcare providers, family members, and the individuals experiencing the issues themselves. Sometimes, because of the stigma around mental health issues, people are slow to reach out for help. It stands to reason that more older adults will bring more mental health issues. It’s important to reach out for help as soon and you need it.

Increased Risk of Issues

There can be an increased risk of mental health problems as we age. Some issues include chronic pain, a loss of loved ones, loneliness, isolation, and losses in day-to-day capabilities. There is also the very real problem of elder abuse. This is when a caregiver relationship is harmful, when physical, financial, or verbal mistreatment is present. All of these can result in anxiety and depression.

Another issue that can arise is dementia which manifests as a deterioration in cognitive abilities, from memory to behavior. This is not a normal part of aging and should be addressed. Dementia can cause much stress in a home. Families and caregivers are likely to crave additional support when they are facing the emotional, financial, and physical pressures of dementia.

How to Age Well

While elderly mental health statistics can be frightening, there are active ways to age healthfully. Creating environments that are supportive and nurturing can have lasting results. Paths to healthy aging include securing safe housing (whether that is making changes to a home to prevent accidents or looking into assisted living), providing social support to an elderly individual and being sure that both physical and mental health initiatives are in place so the person can remain as healthy as possible.

Monitoring mental and physical health means any issues can be detected early and managed. If possible, talk through any issues with a trusted professional and work to create an environment of community care. This is all essential because our bodies change as we age. All of these adjustments in our chemistry, mobility, and shifts in familial and friendship bonds have an impact on our health.

Sometimes there are problems causing big issues that can be addressed with support. For example, providing safe transportation to an elderly individual could change their life. A weekly shopping trip could improve their mood and help them to maintain community connections leading to lower stress levels and increased happiness. If transportation isn’t the issue, know that some report the same results when they pursue hobbies or schedule regular exercise. In both cases, you are exercising your mind and body, leading to good health.

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Health Insurance

How to Protect Yourself from Insurance Fraud

by Jagger Esch
written by Jagger Esch

When discussing the financial world, insurance is probably one of the safer aspects according to statistics. This doesn’t mean immunity from insurance fraud.

For seniors, this is a cause of concern as many don’t use a computer regularly.

The biggest issues regarding insurance fraud among consumers are stolen social security numbers, fake insurance policy placement, and scams looking to steal any personal information possible.

The good news is you don’t have to be caught off guard. Be proactive and protect yourself against insurance fraud. Also, don’t be afraid to report fraud.

Tips to Protect yourself From Insurance Fraud and Scams

Applying for or changing insurance policies and sorting out life insurance options will have you contacting many different agents.

We’ve put together some tips to help keep your personal information more secure during this process.

Research Agent Licenses

When working with any new insurance agent you should investigate their insurance agent license information, before you give any personal information out.

Make sure your agent is legitimate; remember all non-fraudulent agents and brokers in the US are licensed.

To inquire about an insurance agents’ license information, go to your state insurance regulator’s website.

While doing your research, if you uncover their license doesn’t exist or has been suspended – stop working with them and look for another agent.

Lock your Credit, Protect your Social Security

For the longest time, most insurance companies required social security numbers on all insurance applications. Luckily for us, times have changed.

While new regulations for some property and casualty insurers don’t require social security numbers on applications anymore. Most property and life insurers however, will still require SS numbers.

Meaning, if you’re simply looking for a quote, don’t give them your social security number; it’s not required. Any credible insurance agent won’t be shocked if you request to wait until the end to give them your SS number.

Not many agents will tell you this, but the only true effective way to completely protect your social security number, is to totally freeze your credit.

Due to recent new federal legislation regarding SS numbers, everyone in the United States can freeze their credit file, for free.

Once you have gone through the difficult process of freezing your credit, you can stop worrying about fraud; get some peace of mind.

The problem is, after you freeze your credit, unfreezing it to re-gain access – is just as difficult.

Be wary of writing out checks directly to Insurance Agents

When making payments, you should be adamant about writing out payments to the name of the insurance company itself, rather than the agent. Sometimes, there’s one-off situations that require you to break this rule.

Although it’s rare, specific types of insurance will have you write out checks to an agency.

If your agent asks you to make a check out into their name, a red flag should go up.

To be safe, call the insurance company directly and ask if you can pay them directly. Sometimes the only option is to write a check directly to the agent. In this case, you should inquire about a fidelity bond.

Premium Embezzlement

To branch off when discussing insurance agents and fraud issues, premium embezzlement is a thing and yes, it does happen.

Some individuals who work for a licensed and credible insurance firm are simply up to no good. Reports have been made that they’ve scammed consumers for their personal gains.

One way of scamming might be, a fraudulent agent will collect your premium payment and instead of giving it to the insurance company – they just pocket your money.

Meanwhile, as a consumer, you believe your premium has been handled accordingly and count on using your coverage when needed. Unbeknownst to you, your premium was never actually paid.

On the contrary, your insurance company assumes you’re not keeping up your end of the deal; resulting in cancellation or may not renew your policy.

You should be receiving a copy of your policy, an insurance ID card and/or receipts of payments made. If you haven’t gotten proof, or you stop getting proof of payments made, this is a sign that your premiums haven’t been submitted.

Contact your insurer immediately and get to the bottom of this as quickly as possible to prevent a loss in your coverage.

Medicare Insurance Fraud

Medicare’s Affordable Care Act doesn’t require beneficiaries to get a new ID card. If you’re contacted by someone impersonating a government or Medicare professional and are asked to pay for a new insurance card, it’s a scam.

If this happens, don’t share any personal information with them; hang the phone up immediately, and contact your non-emergency local police department to report the call and phone number.

Check financial strength ratings

Ratings and reviews can still be protection by making you aware of any shady behavior other consumers may have experienced.

A variety of governmental state agencies regulate all insurance nationwide. Meanwhile, their financial portion is rated by 4 private rating agencies.

However, these agencies are NOT associated with the government.

Each rating agency has its own rating system; insurance specialist AM Best is the easiest to comprehend. AM Best rates insurers with metric on their Financial Strength Rating.

Consumers want to look for A- and above.

It’s important when buying any sort of cash value life insurance and when considering annuities, to check all prospect ratings.

Don’t Trust Phone Calls and Check Website Credibility

Just because you saw it on a website, or you get a phone call with information – doesn’t mean it’s factual.

A good rule of thumb is, if it’s important enough you’ll receive an official notification in the mail. No insurance underwriter is going to call you and ask for your social security number or your bank account information.

The bottom line is that you don’t just give up that information over the phone when asked.

Even if you get a letter from your insurance company requesting personal information in the mail, call your agent or insurance company and confirm the request is authentic.

Should you get a phone call inquiring your personal info, promptly hang up and call the number on the back of your insurance card.

Be Cautious of “Phishing” Scams

These same rules apply for websites and emails. Sharing information online should be done with caution.

An insurance company doesn’t typically email you asking for additional information, unless you’re signed up for online billing.

The danger with phishing emails

Some emails appear to be from a legitimate source; these emails are phishing scams.

E-mail scams try to get you to volunteer your personal or account information, like your passwords, credit card and bank numbers, and social security numbers.

Be careful what links you click on and don’t send your personal information to anyone until you’ve verified the source. If you’re unsure, then explore.

Steering Clear from Fraud

There’s not a single guide on the market that can completely keep us protected from any type of fraud or scams.

These tips should help you feel safer and provide you some tools when combating shady situations.

Not everything is what is seems. Insurance scams and fraudulent activity has gotten more convincing with the advances in technology.

It has become harder to detect, stay alert and protect your personal information; after all, it does belong to you. With these tips you can protect yourself from insurance fraud in the future.

 

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Fraud & Security

How to keep your mobile device away from criminals

by Rod Spurgeon
written by Rod Spurgeon

It’s a beautiful morning and you decide to visit your favorite beverage shop to enjoy a tasty treat. With your go-juice in hand, you move to an empty table and sit down. You pull out your mobile phone to catch up on emails and read the latest news when you realize you forgot to get napkins. Leaving your coffee and phone on the table, you walk to the nearby counter, pluck two napkins from a holder, and return to your seat. As you approach your table, you move to set the napkins next to your coffee when you realize something has changed.

Your phone is missing.

You search the floor, your belongings, and your pockets, but without success. You ask the barista if she accidentally moved your phone from the table, but she hasn’t. You ask other patrons of the shop if they’ve seen your phone, but nobody saw a thing. It’s just gone. A sinking feeling forms in the pit of your stomach as you realize your phone has just been stolen.

This scenario happens more often every day. Don’t let it happen to you.

Whether you’re only stepping away from a table to grab another napkin, fork, or ketchup packet, someone might be watching, waiting for the opportunity to take what you have.

Avoid leaving your devices laying around on a table in a coffee shop, restaurant, library, or other public location. Never leave a mobile device where strangers can gain access to it and always maintain physical control of your device. When you leave a device where anyone else can access it, you risk losing the device to a criminal. Always keep your device under your control.

Even if you take every precaution to avoid leaving your mobile device in a vulnerable location, a thief might steal it from your pocket, purse, or satchel. To avoid losing the device forever, download a find my phone application from a primary vendor and use it. That way, if your mobile device is ever lost or stolen, you’ll have a much easier time locating it. Once you identify the location of your stolen device, give the information to law enforcement. Never confront a thief. A thief is likely to panic if caught, and like a cornered animal, that thief might hurt you to get away. Your mobile device isn’t worth your life.

Form the habit of locking your device when not in use, if you haven’t already. Set a passcode and use it. If someone steals your device, a passcode will reduce the chances of that person accessing your personal information.

When downloading a find my phone app, only download it and other apps from approved primary sources such as Apple iTunes or Google Play. Third party vendors may not screen apps located in their store as well as primary vendors, and it’s better to avoid them than take the risk of downloading an infected app.

Primary vendors do their best to weed out bad apps from their stable, but a few malicious apps might still find their way to the stores. Be sure to read reviews and see how many times others have downloaded an app before you consider downloading it. If the app’s reviews indicate the software might be compromised or the app has only been downloaded a few hundred times, avoid downloading it. Always use caution when downloading apps to avoid giving control of your personal information to a data thief.

Your phone is a treasure trove of your personal information to a criminal. Even if a thief doesn’t know how to access that trove because you have a strong passcode, the cost of a new device can be more than your budget can afford. Keep your device safe to avoid an unnecessary replacement cost.

 

 

 

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Why Senior Citizens Should Own a Pet
Pets

Why Senior Citizens Should Own a Pet

by Kendall VanBlarcom
written by Kendall VanBlarcom

Many people own pets, but no population needs one more than senior citizens. Owning a pet has many benefits that can help seniors feel better about their life and improve their health. If you’re considering a pet, read about all of the advantages of one here.

The Perks Pets Provide

Pets are friends. They are loyal and can gauge how you feel and what you are thinking. They know when you’re sad, happy, and will try to make you feel better. While this may sound like invented benefits from a dog lover, there’s scientific evidence behind it.

The American Heart Association has studied the effects of dogs, and have found that it can lower the risk of heart disease and can even lead to greater longevity. Some other studies identified by HelpGuide.org finds that dog owners are less likely to suffer from depression. Lower blood pressure, and higher levels of serotonin and dopamine are all associated with owning a dog. It’s even been found that people who own pets over the age of 65 visit the doctor fewer times. Why Senior Citizens Should Own a Pet

Researchers at the University of California – Davis have found that Alzheimer’s patients experience less stress and anxiety when they have a dog or cat. It’s the ability to touch the pet and the nonverbal communication that helps them stay calm.

Caregivers also find that clients who own pets are much easier to work with due to two reasons:

  1. The pet provides stress relief to the caregiver.
  2. The client or family member is much calmer, so it makes it easier to work with him or her.

Why Pets Help Seniors

The reasoning behind the therapeutic benefits of owning a dog is that humans need to touch. When they pet or hug a dog, it affects their body and mind. It calms and relaxes people, and that is what sparks the lower blood pressure and cholesterol. It also boosts serotonin and dopamine levels (related to your mood), which helps you feel happier. Why Senior Citizens Should Own a Pet

What some people don’t consider is that a pet such as a dog needs exercise. This can help a lot of seniors get out of the house, which increases their physical activity. This, in turn, helps fight many medical conditions.
Companionship is another consideration. When you don’t have anyone around you, it’s more likely you’ll feel lonely. With a pet, you’ll have that animal right by your side keeping you company.

What You Should Own

Dogs provide the most benefits, but cats are good too. The only disadvantage to owning a cat is that you don’t get the exercise, as you do with a dog. However, seniors who have limited mobility may find that a cat is perfect for them.

If dogs and cats aren’t your style of pet ownership, birds, hamsters, and other small pets can be beneficial as well. It’s the act of holding and petting animals that will help you feel better mentally and physically.

The Only Thing Pets Do Not Provide

Unfortunately, pets cannot have a conversation with you. While they do have their own way of communicating, they simply cannot talk with you like a personal confidant can. That’s why Kendall Van Blarcom is here for you. With personal consulting sessions along with a pet, you will have everything you need. You’ll be able to cuddle with your pet, get the exercise he and you need, and then have a good old fashioned conversation with someone who understands you and wants to listen to you.
Contact Kendall Van Blarcom today for more information on how personal consulting can help you.

Why Senior Citizens Should Own a Pet Why Senior Citizens Should Own a Pet Why Senior Citizens Should Own a Pet Why Senior Citizens Should Own a Pet Why Senior Citizens Should Own a Pet

Why Senior Citizens Should Own a Pet

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Vision

5 Important Things to Do for a Visually Impaired Senior

by Kimberly Johnson
written by Kimberly Johnson

Vision loss in seniors is inevitable. But it becomes a real challenge for them to deal with vision loss because it affects their independence in even the most ordinary daily tasks. As a loved one or a caregiver of such seniors, it is important to understand the challenge these seniors face to help them in making their lives better. 5 Important Things to Do for a Visually Impaired Senior
Listed here are a few crucial things to keep in mind…

  1. Create a list of important instructions and numbers

Create a list which consists all the important instructions and contact numbers on a bold-lined paper. This should include the numbers of doctors, transportation, emergency contacts etc. Make sure that everything is typed in large and easily readable print. Keep this list in a convenient place.

  1. Ensure that their home is lit up appropriately

Special care should be taken to ensure that the home of your elderly loved ones or those you are caring for should be well lit up. For instance, you can choose gooseneck lamps in places where extra light is required for tasks like cooking or reading. An important place you should not miss out is the stairs. The top and the bottom steps should be especially illuminated. Extra lighting around the house will help your loved one use their remaining vision effectively. Choose the type and quality of light depending on the type of their vision loss.

  1. Use bright colors to highlight things and risky areas

A good idea to help your loved ones with poor vision so that they can carry out their tasks independently would be to use colors to highlight the things they use daily and the areas which they frequent. For instance, for outlets or switch plate covers use bright colors which are in contrast with the wall paint. This will make it easy for them to locate light switches or thermostats. Also, for plates, cups and utensils choose a color which is in contrast with the countertop and table, so that cooking and dining becomes easy for them. Do the same for areas like handrails along the staircase which will make them easier to spot.

  1. Schedule periodic eye exams for them

One of the most important things you can do for your seniors suffering from poor vision is to schedule periodic eye exams for them. This will not only help keep a tab on the effectiveness of the eye care they are being administered, but will also enable early detection of any underlying serious vision-related and other problems. For instance, problems such as cataract and low vision can be treated effectively with minimally invasive treatments if they are diagnosed at an early stage.

  1. Make traveling easier for them

Traveling with poor vision can be risky. You can encourage the senior to speak up and ask questions about assistance if they are traveling alone. While walking with them, you can alert them about any holes or other abnormalities in payment so that they don’t fall and hurt themselves.
You can even encourage such seniors to use their peripheral vision more often and to become independent and do small and simple tasks around the home by themselves. This will not only make them a bit more confident but will also make them happy.

Author Bio:
Aaron Barriga is the online marketing manager for Insight Vision Center, an Ophthalmology Center in California. With a knack for understanding medical procedures and an interest in eye and vision health due to his personal struggle with Astigmatism, Aaron loves to share what he knows and what he learns. He blogs to inform readers about the latest eye care technology and other topics related to eye care, especially LASIK. Aaron loves collecting coasters from the different bars and restaurants he visits during his travels.

5 Important Things to Do for a Visually Impaired Senior

5 Important Things to Do for a Visually Impaired Senior 5 Important Things to Do for a Visually Impaired Senior 5 Important Things to Do for a Visually Impaired Senior 5 Important Things to Do for a Visually Impaired Senior 5 Important Things to Do for a Visually Impaired Senior 5 Important Things to Do for a Visually Impaired Senior 5 Important Things to Do for a Visually Impaired Senior 5 Important Things to Do for a Visually Impaired Senior

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Medicare Plans

What are the different types of Medicare supplement plans?

by Kylie Johnson
written by Kylie Johnson

All Medicare supplement policies

Medicare supplement insurance, also known as Medigap, is designed to cover some or all of the costs a patient is responsible for before Medicare Parts A and B will pay anything, copays required by Medicare Parts A and B and amounts over the maximum that Medicare Parts A and B will cover. The different Medigap plans are standardized between companies, meaning consumers will receive the same coverage for Plan A (or whichever plan they select) regardless of which company they buy it from. There are 11 plans, each designated by a different letter, and each one covers different things. (Medigap plans are not labeled with letters in Massachusetts, Minnesota and Wisconsin, so-called waiver states.)

Plan A

Plan A covers additional days in the hospital after Medicare benefits are exceeded, copayments and coinsurance, hospice care and up to three pints of blood.

Plan B

Plan B covers everything that Plan A does and also covers the deductible required by Medicare Part A.

Plan C

Plan C covers everything that Plan B covers as well as the deductible required by Medicare Part B, 80 percent of medical care costs occurred when traveling abroad and the coinsurance for stays in skilled nursing facilities.

Plan D

Plan D is the same as Plan C, but it does not cover medical care costs occurred when traveling abroad.

Plan F

Plan F covers everything covered by Plan C and also covers any excess fees charged by a doctor or hospital that Medicare does not cover.

Plan F—High Deductible

The high deductible version of Plan F has the same coverage as the standard Plan F, but individuals must pay a high deductible, often over $2000, before the policy covers anything.

Plan G

Plan G covers everything the standard Plan F covers except that it does not cover the Medicare Part B deductible.

Plan K

Plan K covers additional days in the hospital after Medicare benefits are exceeded and 50 percent of the following: Part B coinsurance, up to three pints of blood, hospice care, coinsurance for skilled nursing facilities and the deductible for Part A.

Plan L

Plan L covers the same things as Plan K, but it pays 75 percent on the services where Plan K pays 50 percent.

Plan M

Plan M covers additional days in the hospital after Medicare benefits are exceeded, copayments and coinsurance, hospice care, skilled nursing facility coinsurance and up to three pints of blood. It also covers 50 percent of the Part A deductible and 80 percent of charges while traveling abroad.

Plan N

Plan N is identical to Plan M, except it fully covers the deductible for Part A and requires a small copay for office visits and trips to the emergency room.

Medicare SELECT

A type of Medigap policy which typically charges lower premiums so long as the policyholders uses approved networks of hospitals and doctors.

Who should consider purchasing Medicare Supplement Insurance?

Retirees

Anyone reaching retirement age should begin researching health insurance options for those 65 and over. Deciding on a plan before turning 65 may allow some consumers to get special discounts.

Seniors

Older seniors may wish to purchase Medicare supplement insurance if they’re concerned about paying for an unexpected medical need.

People with qualifying disabilities

Individuals with qualifying disabilities, usually those that make them eligible for social security disability, may be allowed to purchase Medicare supplement insurance before they turn 65.

Affinity Group Members

Affinity groups like AARP may offer members advantages if they buy Medigap through the organization.

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Aging

What is NORMAL Aging?

by Guest Blogger
written by Guest Blogger

The longest research project on aging, sponsored by the National Institute on Health, the Baltimore Longitudinal Study, helps scientist piece together a more accurate perspective. Before the study, scientists compared surveyors in one age group to a contrasting set of individuals in another age group. Most of the differences between them are not attributed to age but the result of life experiences, genetics, or environmental factors.

What the Baltimore Longitudinal Study did instead, was to compare two individuals, one who lived through two wars and the other raised in a peaceful and prosperous society. How each aged might differ but the effect of age alone would be difficult to sort out. By looking at the same individuals over time, external influences are reduced. Longitudinal research allows scientists to gather thousands of case studies of human aging.

The researchers measured physical and cognitive changes in real-time among a dedicated group of participants. They were tested at regular intervals over the course of their lives. The individuals 60 and under are assessed every 4 years. The older age brackets (60 to 79) tested every 2 years, and those over 80, annually.

The assessment included a complete health, cognitive, and functional work up. The study aimed to determine characterizing normal and exceptional aging, along with age-related health issues, such as frailty.

What researchers looked for

  • Types of aging changes over a span of decades.
  • The behavioral, genetic, and environmental factors that affect changes.
  • Predictors and risk factors for frailty, and other end-points like failure to adapt to aging.
  • The potential components for interventions that may positively affect the aging process and prevent age-related diseases.
  • The factors that predict healthy aging across the life span.

The findings

Several useful indicators were discovered, especially for individuals who want to know what changes to make in their current lifestyle to have a better aging process. The scientists are hopeful that the data will transform the way we conceptualize aging.

In a nutshell, they identified action steps people can take to maintain health and function as we get older. From improving our diet and levels of physical activity to getting health screenings and managing risk factors for disease, these actions may influence different areas of health.

More importantly, they hope to understand why some people are resistant to disease and functional decline and identify other challenges for the future.

Attend my free Live events on Facebook @Carebuzz. Every Tuesday, 3:00 PM CST, we discuss proactive living in mid-life. (https://www.facebook.com/Carebuzz/)

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Aging

Social Connections Enhance Mid-life

by Carol Marak
written by Carol Marak

The vast majority of women in the United States have children. However, in 2017, the fertility rate measuring the number of births was 60.2 for every 1,000 women of childbearing age. The total fertility rate – which estimates how many children women will have based on current patterns – is down to 1.8, below the replacement level in developed countries of 2.1.

As women decide to have less or no children at all is not a bad thing but can have a negative effect in their older years. The Wall Street Journal recently noted that family caregivers, “long the backbone of the nation’s long-term care system, provide an estimated $500 billion worth of free care annually-three times Medicaid’s professional long-term care spending, and help keep people out of costly institutions … But the supply of caregivers is shrinking just as the nation needs them most.”

Not only do Baby Boomers and GenXers face declining birth rates but also far-flung families, high divorce rates, and an increase in Alzheimer’s disease and dementia. The responsibility of caring for a growing population of older adults will be carried by fewer family members.

The idea of getting older without a spouse or children to rely on is a growing problem for many. The U.S. Census, 2010 estimated 27 percent of the 65+ age group live alone. And that percentage will increase as baby boomers live longer.

The Greatest Generation had an easier time getting help since they birthed the baby boomers. My parents were lucky to have each other and three very caring daughters when they became elderly. But for me and thousands like me, we have no one to depend on for personal help at home.

What are the issues of adults living alone?

  • Help with bills, financial decisions
  • Help with medical decision
  • Help identifying a would-be caregiver
  • Help in a crisis
  • Selecting a healthcare proxy

 

Some living at home alone reported feelings of loneliness and isolation which plays havoc on cognitive and physical health. And when sadness affects the mood, it’s harder to get motivated for exercise, cooking healthy foods, socializing, and participating in activities. Here’s what to do:

  • Start a local group of like-minded individuals
  • Look for people who have similar interests and enjoy doing the same hobbies and activities

 

The point, put yourself in an environment where there are people you feel drawn to.

Whether it’s a church, synagogue, Mosque, mastermind group, sport league, walking group, Yoga class, a night or lifelong learning class at a community college, a cooking class, a MeetUp or a Facebook group… put yourself in situations and in the middle of audiences where you’ll meet multiple new people.

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Money Tips

Financial Challenges of Senior Citizens

by Kendall VanBlarcom
written by Kendall VanBlarcom

While retirement years are depicted as a period of relaxation and fun in advertisements and movies, the reality is many face financial challenges as senior citizens. If you are helping someone with their retirement planning, or are planning your own retirement, a few strategies can help you cope with feelings of anxiety or worry.

Managing Financial Security

It is common for individuals to think they will be able to manage their finances on their own throughout their lives. But for many, this is not the reality. Receiving support to juggle medical bills and investment accounts is often needed. This is especially true for seniors on a tight budget. Increases in day-to-day living expenses combined with the chance of an unexpected medical expense can create stress.

Talking through the issues. Working with family members and financial professionals (when appropriate) can help to abate some worries of older adults.

Trimming Your Expenses

It can be helpful to cut your budget down when you are facing the financial challenges of senior citizens. For example, there are senior discounts to take advantage of and, if you want to travel, you can choose trips that fit within your means rather than spending money without careful thought.

Of course, it is always helpful to continue working past retirement age, too. This doesn’t have to be a full-time position either. If you are a senior who is in good health, a part-time job within your community can help shore up finances and can be beneficial for your mental health as well. Working with others and being social is a good way to help your mind stay emotionally fit.

Finding a Balance

On the flip side, it’s not healthy to become obsessed with being frugal either. There have been studies that show some senior citizens become too tight with their money which can impact their how happy they are and decisions they make about their own self-care.

Carefully planning your finances and staying on course can help to dissipate any discomfort you are experiencing around money issues. Look through your sources of income and establish a baseline for living expenses. It doesn’t have to be complicated. Often people find it is simplest to think of their Social Security funding their living and medical expenses. From there, if there are funds available in IRAs or other savings accounts, those funds can be used for entertainment, leisure, and travel.

Your health comes first, we all know that money is not the key to happiness, but having your finances in healthy shape can be helpful in your post-retirement years. This is because financial security can provide peace of mind for yourself and your family. Plus, if funds allow, money can provide access to travel and education to boost healthy social connections.

If you would like to talk about financial challenges you are facing as a senior citizen, reach out. You are not alone and help is available.

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