Senior Finances

Soaring energy costs can lead to some unexpectedly high energy bills. Electricity and other utility bills quickly add up, but there are many steps seniors can take to reduce their energy usage and save money. Encourage your senior loved one to use these tips to cut back on energy costs while being environmentally conscious.  Insulate…

If your aging loved one has a good amount of equity in his or her home and wants a little more financial stability each month, he or she may want to consider a reverse mortgage. Here’s a list of some ways your loved one can benefit from taking out this type of loan.  1. It…

Getting out of debt can be difficult for the elderly, and it usually requires a combination of creativity and objectivity to achieve this goal. Here are some solutions your senior loved one may want to consider.  Create a Budget  One of the most important steps for a senior attempting to get out of debt is…

Reverse mortgages are becoming increasingly popular with aging adults who have equity in their homes. Beyond just providing a means for supplemental income, a reverse mortgage has quite a few benefits your elderly loved one may want to consider.  It Can Make Aging in Place Easier A reverse mortgage doesn’t transfer ownership of the property…

Most people are familiar with estate sales. They’re usually held after people have passed away, and they enable family members to liquidate the remaining assets. Living estate sales, which occur while people are still alive, are becoming an increasingly popular option. Here are a few tips for seniors and their families who are considering holding…

The elderly are vulnerable to scammers who can use their natural concerns about money and family to talk them into buying unnecessary or even nonexistent insurance policies. Seniors and their caregivers should take scam prevention seriously. As your loved one works on post-retirement planning, these strategies can help him or her avoid some of the…