Alabama Seniors, Retirement

Keeping Your Financial House in Order

With 35% of the nation’s wealth held by those over age 65, being aware of how your aging loved one manages his or her finances is important. Financial problems can result from financial abuse or money mistakes from the elder themselves. The Face of Financial Abuse Older Americans lose $2.9 billion a year from financial abuse. Half of elder financial abuse comes from cons and robbery by strangers. Sadly, 34% of the culprits are family, friends, and neighbors. The most common crimes are check forgery, stolen credit cards, and asset transfers without consent. Rounding out the perpetrators are the business…

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Alabama Seniors, Retirement

Retirement and Being Single

As Americans live longer, the meaning of retirement continues to shift. The wave of aging Baby Boomers ensures more active retirements on the horizon. However, longer-term retirement planning has become more challenging than ever with the downturn of the economy. Adding to this challenge of planning for a longer retirement are the large numbers of people who will retire single. Reports show that 43 percent1 of seniors over age 65 are single. This growing phenomenon occurs for a number of reasons – midlife divorce, outliving a spouse, or people who choose not to marry. Those in retirement alone face a…

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Alabama Seniors, Retirement

Protect Your Family from the Unexpected

Approximately 120 million Americans do not have up-to-date estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death. Without advanced planning, money and time can be lost. The National Association of Estate Planners and Councils “promotes education of financial and estate planning throughout the year” with October 18 to 24 serving as National Estate Planning Awareness Week. No matter your net worth, it’s important to have a basic estate plan in place. A plan ensures that your family and financial goals are met after you die. It includes a will, assignment of power…

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Aging, Alabama Seniors, Fitness & Health, Retirement

Are You Ready for Medicare Enrollment?

Medicare enrollment season begins on November 15, and this year could be especially confusing. Older adults and their loved ones may need assistance analyzing their coverage options. Remember these important tips when signing up for Medicare: 1) Medicare supplements (or Medigap) help pay some of the health care costs that the Original Medicare Plan doesn’t cover. Policies A through L is available, although not all are available in every state. 2) If you’re healthy and 65, you must pick Medicare A, B, or C. Medicare Advantage (Part C) focuses on prevention and is a great choice for those that fit…

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