Senior Financial Planning

  • Renting vs. Buying in Senior Living Communities

    When considering the many different types of senior housing communities available, you may be faced with the decision to rent or buy. It’s important to consider an elder’s future care needs and finances before deciding which option is best.

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  • How to Put an Elderly Loved One on a Budget

    Budgeting can be tricky, especially for seniors who are living on a fixed income. Learn how to help your loved one evaluate their assets and expenses and develop a monthly budget they can actually follow.

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  • 19 Free and Discounted Services for Seniors and Their Caregivers

    With so many seniors living on limited incomes, finding affordable products and services is crucial. Get the inside scoop on freebies and discounts available to you and your loved one.

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  • The Biggest Mistake People Make When Filing for Social Security

    Many American adults don't know how to maximize their Social Security benefits. Most start collecting too early, and neglect to use strategies that make the most of their monthly benefits.

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  • 10 Things You Should Know About Your Parent's Finances

    Would you know what to do if you suddenly had to take over managing money and paying bills for your parent? Here are 10 things you need to know before assuming this responsibility.

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  • Tips for Caregivers Who Are Managing A Senior’s Investments

    Many family caregivers are granted the power to manage an aging loved one’s finances, and this often includes handling an elder’s investment decisions. While this can be a daunting task, these pointers can help guide you.

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  • Warning Signs That Your Parent's Finances Are Off Track

    Money can be a sticky subject to discuss with your aging parents. If you’re noticing any of these red flags, it may be time to step in and assist in managing their finances.

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  • Financial Planning Strategies for Caregivers and Their Parents

    Planning ahead for your elderly parent's long-term care can save the rest of the family both emotional and financial distress. Help your parents avoid financial pitfalls with these 3 financial strategies for planning future care.

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  • Using a Reverse Mortgage Loan to Age in Place

    A reverse mortgage loan is one option that may deserve consideration as retirement needs grow and savings and Social Security benefits may not be enough to retire on comfortably and with confidence.

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  • The Ins and Outs of a Reverse Mortgage Loan: Is It Right for You?

    A reverse mortgage is a type of home equity loan for seniors age 62 and older that is used to turn a portion of their home equity into cash. Is this financial planning tool right for you?

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  • How to Use a Miller Trust for Medicaid Eligibility

    Qualifying for Medicaid coverage is a complex process that involves making sure a senior’s income and assets fall below certain levels. “Income cap” states allow applicants to use a specific kind of trust to help them meet these eligibility guidelines.

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  • Weighing the Pros and Cons of a Living Trust

    A living trust is a popular financial tool that can be used for Medicaid planning, estate planning and tax planning purposes. However, a trust may not be the best the best approach, depending on a person’s long-term goals and unique financial situation.

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  • How to Pay for Long-Term Care

    Families often struggle to find funds for their loved ones’ care, but adequate planning and awareness of all available options can make a world of difference in paying for long term care.

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  • When to Apply for Medicaid

    Medicaid can help with long-term care costs, but eligibility is determined by a combination of many factors. The rising cost of care makes planning in advance a priority when considering paying for senior care costs.

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  • 4 Key Things to Know about Trusts and Medicaid Planning

    There are many types of trusts that can help protect your assets from Medicaid. Here's a brief overview of the things you need to know when setting up a trust for Medicaid planning purposes.

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  • Top 5 Strategies for Protecting Your Money from Medicaid

    Many aging adults must apply for Medicaid in order to afford long-term care. Here are some strategies for preserving some of your wealth while qualifying for financial assistance.

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  • Start Here Every Year: Essential Tax Steps for Caregivers

    As a caregiver, you may need to assume responsibility for organizing an aging loved one's financial documents. Avoid unnecessary stress by organizing paperwork in advance of tax time.

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  • How to Pay for Independent Living

    Understand how retirement communities differ from other senior living options and learn how various assets, income sources and benefits can cover the costs of living in an independent senior community.

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  • 4 Life Insurance Options for Seniors

    There are life insurance options available for seniors, but finding the right policy can be tricky.

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  • Understanding the Medicaid Look-Back Period and Penalty Period

    Many seniors with limited income and assets must use a spend-down strategy to qualify for Medicaid, but gifting can trigger a penalty period of ineligibility. Learn about Medicaid’s asset transfer rules to avoid problems with paying for long-term care.

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