Posts Tagged ‘ financial planning ’

HOW EXPENSIVE CAN ELDER CARE GET?

Feb 15th, 2012 | By Dr Jerry D Elrod | Category: Senior Moments Blog

Projecting ahead into the next year, it begins to appear that the costs of elder care, i.e. assisted living, nursing care and other such forms of suitable accommodation for the elderly who require attention will continue to escalate. Depending on the nature of the care, geographic location, the condition of the resident (client, patient, etc.) these costs seem to continue to climb, until it is possible to imagine that over a ten year period, one can be talking in terms of somewhere between $400k and $500k in costs for care. That begins to feel prohibitive and downright scary.

Those who are wise enough to have applied for and qualified to receive long term care insurance are surely on the right track. And, they are even wiser if they chose the inflation rider as a part of the policy.

We relish the thought of our elderly loved ones



GIFTING BEFORE YEAR’S END

Dec 9th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: Senior Moments Blog

For the most part, SCJ writes about the majority of seniors who live on fixed incomes and have to manage every penny very carefully. We are dedicated to continue to provide articles for the majority of seniors. However, there is also another senior group that deserves attention. That is those seniors who have an estate to leave to their children, and need to have the best advice for how to leave the most possible.

If you are among the fortunate group of seniors who have significant money to leave to your children and grandchildren, you need to know some of the basics. And you need to know that the starting place is what to do with excess funds in the last few days of the year. That’s now.



Retirees: Some Options for Managing Credit Card Debt

May 22nd, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Senior citizens carry the fastest-growing credit card debt in the United States today.  The average balance increased 149% from 1995 to 2004 among retirees 65 and older.   That figure continues on the rise.  If you find your credit card debt worrisome, this article is for you. You can choose to go to a debt relief [...]



Senior Citizen Financial Concerns: What If It Gets Worse Before It Gets Better?

May 19th, 2010 | By Dr Jerry D Elrod | Category: Senior Moments Blog

Some expert financial prognosticators are predicting huge downturns in the economy before this year is out. They are basing their assessments on history, indicators of past downturns influenced by international finance and those having impact on the US economy. Seniors will do well not to discount their conclusions. We elders should also not jump to a panic response. The real question is what do senior citizens do if this state of affairs persists and gets worse before it gets better?

Careful, prudent, non reactive, incisive, and conservative judgment are among the best stances to assume. Even so, choices now can come too late. Jumping on a bandwagon with too few members of the band knowing how to play their instruments is not a decision of choice. Hoping you have enough stashed away in protected investments, whatever that now means, may provide



Senior Citizen Financial Planning: Prepare For Economic Downturn

May 17th, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

AOL’s Daily Finance Page today reports the possibility of a financial crash–yet again–this year (2010).  Senior citizens everywhere need to stay abreast of this issue because our income is fixed once we retire.   Charles Hugh Smith wrote the article, and poses this question: “Will the debt crisis ravaging European banks and the bursting of [...]



Financial Planning for Retirement and Beyond

May 2nd, 2010 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Many people claim to be experts on Senior Finances, and some genuinely are.  Others are rip-off artists and are easily exposed with the openness of today’s Internet.  One of the ‘real’ experts is Jane Bryant Quinn.  She writes a lot… books, articles, blogs.  She is an established expert on senior financial issues and SCJ believes [...]