Most people are surprised to learn that Medicare pays for only a limited amount of the daily care you are likely to need in your lifetime (about 14%). Medicare covers only services delivered by medically trained professionals. That means you need to have savings or insurance and rely on a collection of local programs. Or …
Your parents have been retired for quite a few years and they say they are now ready to move to a retirement community. They’ve asked for your help because they’re overwhelmed with the choices available and aren’t sure what they can afford or what kind of community they want to live in. Now it’s time …
Aging in Place is a phrase used by many industries to describe our desire to stay in our homes as we age, to put off going to a nursing home or assisted living facility as long as possible. There are a few common myths among those who are considered middle-aged that need to be cleared …
A lot of older Americans wind up needing assistance with their financial assets, according to researchers. The skill needed to manage money is different from most daily functions because it relies on cognitive skills. “Most older adults want to live independently for as long as possible. The problem is, it’s hard to live independently if …
Economic recessions and recoveries affect retirement and savings accounts. Inflation increases daily living expenses. Whether or not frugal habits are in place, those who are aging and entering the elderly population experience reduced spending power – they have less to spend and must focus on needs first over wants. This can be …
The deduction for qualified medical expenses has survived yet another round of tax reform. The IRS will allow a tax payer to deduct expenses that exceed 7.5% of their adjusted gross income for 2017 and 2018. Beginning in 2019, all taxpayers may deduct only the amount of the total unreimbursed allowable medical care expenses for …
7 Biggest Mistakes when Applying for Public Benefits When you are applying for public benefits you may be eager to get started, downtrodden with the process or fearful of the results. As you move through the process of the application it is so important that you understand the 7 Biggest Mistakes most people make when …
Older people continue to be concerned about management of their assets and property. However, they may be unable to participate because of illness, confusion or loss of memory. It is important to involve them whenever possible. Compiling an Inventory Develop an inventory which lists all assets and liabilities of the older person. The following items …
Encouraging routine physical examination As a caregiver, you are in a position to help your care-receiver along the road to good health care by encouraging routine physical examinations. You are valuable in helping the care-receiver talk to their doctors and other medical personnel. You can follow through with their medical treatment at home. However, …
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