In the past, it was common for men to control the finances in the relationship, especially when they were the only ones in their families working outside of the home. This can leave boomer women in a vulnerable situation when they need to manage their money to create security for their retirement, but due to lack of experience, there are a number of mistakes that they can make that need to be overcome!

1. Some boomer women expect they’ll receive an inheritance – women who are fortunate enough to still have parents alive, might expect that at the time of their passing, they will receive a large enough inheritance to carry them through retirement. There are no guarantees if boomers will receive an inheritance at all, and if they do, they may not know if it will be enough to finance their senior years

2. Reliance on a spouse – many women allow their spouse to control all aspects of finances and also assume that their loved one is effectively planning for their retirement. Both partners should be involved in financial management, or at least have an awareness

3. No planning for women on their own – boomer women might assume that their spouse will be with them forever. But death or divorce can change this, and women need to make sure they have their financial ducks in a row so they can survive on their own

4. Expecting a man to save the day – some women on their own have the “prince charming” attitude and are waiting for a man to sweep them off their feet and fill up their bank account

Via: Let Life In

Home Care Florida and Senior Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, Fort Walton Beach, Panama City, St. Augustine, Tallahassee, Destin, and Palm Coast.Call us today at 904-363-6699 or 850-243-6464.

Q – My mom has been talking about moving abroad somewhere since her recent retirement. She wants a different lifestyle than one she has here in Florida. It’s a huge lifestyle change and I want to make sure that she chooses the right destination. Any tips for seniors who want to retire abroad?

A – Choosing where to retire abroad permanently can be a hard decision, but here are some tips that will help make sure that your mother has the best experience possible:

1. Consider the cost of living – the cost of living varies from country to country and city to city, so make sure you do your research and choose one that has a cost of living that is lower and well-suited to your retirement budget

2. Find out the regulations for living in a country where you’re not a citizen – in countries like Mexico, retired seniors can receive residency permits that can be renewed annually; or for those with their own homes there, with a monthly pension of $1000 a permanent residency status can be granted

3. Think about your health – the climate and environment of various places abroad can have an impact on your health. Also look at the type of health care system in the countries you’re considering retiring to; some developing countries do not have the same standards as those we’re used to in the US while others have even more comprehensive health care systems

4. Choose your lifestyle – depending on what you’re looking for from your retirement, different destinations can meet your requirements. If you dream of senior years on a beach, Mexico, Spain or Italy might be a good choice; but if you want a historical experience look at Greece or England

Via: Retirement Story

Home Care Florida and Senior Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, Fort Walton Beach, Panama City, St. Augustine, Tallahassee, Destin, and Palm Coast. Call us today at 904-363-6699 or 850-243-6464.

For today’s seniors, retirement doesn’t come at the same time it used to. While decades ago, seniors could look forward to retirement in their mid-60’s, some older adults are now remaining in the workforce until age 70, 80, or 90. Retirement is changing, and there are a number of factors that contribute to it, including the following:

• While the average age to claim Social Security Benefits is 63.9, many need additional income on top of it to be able to afford basic aspects of daily living, like housing and food

• Many seniors would love to retire and just focus on their family and relaxing, but based on the numbers of seniors aged 65 and older which are rising higher than ever before, this isn’t a reality for everyone. The number of older works, aged 80+ has had the most substantial increase at 67% to 500,000 Americans

• With people living longer, money doesn’t go as far as it used to, and as time goes on this might increase even more, keeping more and more seniors in the workforce longer than planned

• Government benefits, which were initially defined in 1940 certainly weren’t designed to support 30 or more years of retirement, which means seniors need a fairly substantial nest egg to make it through

Via: AARP

Image: elements4health.com

Home Care Florida and Senior Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, Fort Walton Beach, Panama City, St. Augustine, Tallahassee, Destin, and Palm Coast. Call us today at 904-363-6699 or 850-243-6464.

For the first time in decades, Florida seniors will find that their Social Security benefit checks have shrunk beginning next year. Although legally, Social Security benefits cannot be reduced, cost of living adjustments will not be made to Social Security Benefits over the next few years. As premiums for the Medicare Prescription Drug Program will be raised slightly, this means that Social Security benefit checks will be smaller than ever before. Although the change will be slight for most seniors, for those living on a limited and fixed income, the impact can be severe. In order to survive through this reduction, seniors can take note of the following money saving tips:

1. Set a budget: know how much money you have available to spend on a weekly basis, and keep a record of your spending so you ensure that you’re never overspending. Pay in cash, and then deposit any remaining money at the end of the week into a savings account

2. Smart shopping – create a shopping list and buy only what you need. Plan meals around items that are in season, and try out generic brand products over name brands for the savings

3. Think all unnecessary purchases over – instead of buying things you don’t need impulsively, wait 24 hours and think it over. More often than not, you will find that the temptation passes

4. Discounts – clip coupons or shop at stores that offer more discounts. Also be aware of places that offer discounts to senior citizens, like movie theaters, museums, and even grocery and retail stores

Sources:

1. MSNBC

2. Associated Content

Image: jupiterimages.com

Home Care Florida and Senior Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, Fort Walton Beach, Panama City, St. Augustine, Tallahassee, Destin, and Palm Coast. Call us today at 904-363-6699 or 850-243-6464.

Spring is in the air in Florida and seniors are dying to get outside into the fresh spring air and sunshine. However, when outside in Florida health and safety is important, so when taking a senior outside, ensure that you are properly prepared to provide for their age specific needs by completing this checklist!

• Outdoor time is planned for early in the day, before the sun and temperatures rise

• The outdoor location chosen has plenty of shady areas to escape the sun

• The elderly person is wearing appropriate outdoor clothing – including a hat (and sunscreen) and light, loose clothing. Also bring an extra sweater in case the senior feels cool, and an umbrella should the sunny skies turn to rain

• Items are packed to keep the senior well hydrated, including plenty of cold water, fruits, and popsicles to cool the body down

• You won’t rush the senior when outside – let him/her take their time when walking around

• You understand the signs and symptoms of heat exhaustion, and know you can’t always rely on a senior to tell you when they’re not feeling well. Look out for signs of dizziness, nausea, fatigue, confusion, sweating or even fainting

Sources:

1. Today’s Senior’s Network

2. Senior Ark

Image: www.sheknows.com

Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, St. Augustine, and Palm Coast. Call us today at 904-363-6699 or 904-794-9450.

Q – My father was recently diagnosed with dementia. While we all saw it coming in a way, it has come as a shock, especially for him. What can we do to help keep him in positive spirits and cope with the emotional aspects that come with such a diagnosis?

A – While you may have suspected a diagnosis like dementia in your father’s future, actually hearing the words and having your fears reinforced can be shocking for everyone.

At this stage, your father may feel as though his mind and body are letting him down, and he may fear an inevitable loss of independence. In the early stages, your father should seek support from Florida community groups for those suffering from Alzheimer’s and dementia, and learn as much about his condition as possible. Planning early on for the future can also help ensure that his wishes with regards to care and medical treatment are met, if he reaches the point where he is able to voice what he wants. Encourage your father to create a living will, appoint a future Power of Attorney, and generally get his affairs in order. By researching care options in Florida, he can choose the best fit for him if it’s needed in the future. Encourage him to maintain his lifestyle, but refrain from activities that are too stressful or demanding.

Sources:
1. Alzheimer’s Society UK
2. DementiaGuide

Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, St. Augustine, and Palm Coast. Call us today at 904-363-6699 or 904-794-9450.

Q – My mother recently decided to formalize her will and get her estate in order and has asked me if she can name me as estate executor on her will. I’m open to taking responsibility for her affairs after her death, but I don’t know much about the process. What are the responsibilities of an estate executor in Florida?

A – While it’s not uncommon for adult children to be appointed estate executors for their aging parents because there is already a strong element of trust in the relationship; you should first know that it won’t be an easy job. If your mother’s affairs are in good order, the estate executor process itself could go smoothly, but dealing with the emotional repercussions of losing a parent while managing all the responsibility can be a challenge. But, if you are sure you’re up to the job, here is a lists of tasks you may be responsible for carrying out:

• Beginning the probate process – filing the will and petition for probate. Specific probate laws apply for the process in Florida and may vary between states.

• Notifying the family – close family members can be notified that their loved one has deceased.

• Obtaining death certificates and EIN (Federal tax number for the estate)

• Determining and collecting the deceased assets (locating documents that verify value of the estate and make an inventory list)

• Letting people know who the executor is – family members and friends with claims will need to get in touch with the estate executor

• Managing the property of the estate – paying bills, taxes and other legalities

• Settle Finances – filing income tax returns on behalf of the deceased

• Distributing assets – distribute assets to those named on the will

• Be removed as executor – once the estate is settled, petition the courts to be removed as executor

Sources:
1. Third Age Alan S. Novik
2. AFSP

Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, St. Augustine, and Palm Coast. Call us today at 904-363-6699 or 904-794-9450.

According to the Better Business Bureau, there’s a new phone scam targeting senior citizens  – specifically grandparents-  in Florida and around the United States by playing upon their dedication to helping their loved ones. The phone fraud, which targets American grandparents, involves a scammer posing as a grandchild in need of money following a trip to Canadian jail or a car accident while traveling North of the border. The scammers exercise a form of phishing, while trying to get information to propel the conversation with the concerned grandparent since naturally they are unaware of the specific details regarding the senior’s grandchild. Often, such a scam phone call starts with “it’s your favorite grandchild!” giving the senior the opportunity to fill in the missing details.

Once the caller seems to have the senior’s attention, they then request that money be sent from Florida to Canada using money wire or Western Union since these financial transfer methods make it hard to trace scammers. While grandparents of course always want to help a grandchild in need, if they receive such a call they should ask to call to their grandchild back or confirm the story with a family member before agreeing to send money. Any suspicious phone calls can be reported to the Better Business Bureau.

Sources:
1.    Senior Advocate News

Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, St. Augustine, and Palm Coast. Call us today at 904-363-6699 or 904-794-9450.

Grants for seniors in Florida are available from the Federal Government and foundations that provide financial assistance for seniors relating to housing, education and more. There are Federal Grants for seniors that cover a number of areas like housing, volunteerism, nutrition and housing.

Popular Federal Grants for Seniors Include:

•    Capital Assistance Program for Elderly Persons and Persons with Disabilities provides funds to provide transportation to elderly persons in areas public transportation services are not available, or when they are inappropriate due to a senior’s physical or mental condition.
•    The Foster Grandparent Program encourages seniors to volunteer in their communities, specifically with special needs children, through funding which is available for seniors 60 and older who have limited incomes.
•    Mortgage Insurance-Rental Housing for the Elderly -  this grant insures mortgage lenders against loss, to increase the number of quality and affordable rental properties available for seniors.
•    Retired and Senior Volunteer Program encourages community service by seniors 55 and older by offering reimbursement
•    Nutrition Services Incentive Program works with the Department of Agriculture to provide nutritious foods to senior meal delivery programs and other nutritional-focused organizations.

To apply for senior grants provided by the Federal Government or foundations, Florida seniors must write a proposal, demonstrating the benefits that they would receive, or be able to dispense to others were they to become an approved recipient of the grant.

Sources:
1.    LovetoKnow
2.    Foundation Center

Image: www.heartlandconnection.com

Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, St. Augustine, and Palm Coast. Call us today at 904-363-6699 or 904-794-9450.

Q – My mother is very ill, and I know that she has debt that was acquired by her and my father before he passed away. Will her children be responsible for paying off her debt when she passes away?

A – In your mother’s case, any shared debt with your father, would have been passed along to her in probate; especially if she was the sole beneficiary of his estate (or all assets were shared). Children are not directly responsible for the debts of their senior relatives, however, debts owing may first be deducted from the senior’s estate before distribution during probate, decreasing or eliminating completely the assets left to beneficiaries of the will or trust because when creditors are unable to collect debts during a senior’s life, seniors remain responsible even after they are deceased. If after your mother’s death, her estate demonstrates insufficient assets to pay off her debts, the creditors will be forced to take a loss; however, you and your siblings will not be responsible for paying her debts.

The only other situations where the survivors of a senior’s family may be responsible for the debts, are if they co-signed on a loan, or guaranteed payment to a creditor.

Sources:
1. Lawyers.com
2. Money Tips
3. Wikipedia

Image: debteradication.com

Home Care Florida provides home care for the elderly, aging, and seniors in Jacksonville, St. Augustine, and Palm Coast. Call us today at 904-363-6699 or 904-794-9450.