Posts Tagged ‘ senior citizen debt ’

WHEN MAKING DEALS: CONSIDER ALL OPTIONS

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

Vulnerability, especially economic, is one of the Achilles Heels of the retired person. Because it is so easy to be drawn in, seniors should be especially cautious when it comes to financial offers, particularly unsolicited ones, that promise much and deliver little. Telephone and mail solicitations which come by way of robo calls or mass mailings should be especially suspect. No door to door solicitation should be given the time of day.

We received a phone call the other day about leasing mineral rights on our property. I did not indicate interest, but, sure enough, there came in the mail a full fledged offer, legal documents to be signed, and a check for the offered amount ready to be deposited. I did not take the bait. I did call the agent and made inquiry about some of



SENIORS: STAYING OUT OF DEBT

Jun 14th, 2012 | By Dr Jerry D Elrod | Category: Senior Moments Blog

One of the most critical disciplines for seniors is to stay out of debt. Keeping your credit card bills current, while determining that no new debt will be incurred is a major and important step at achieving self control. Keeping your income to debt ratio in check is one of the healthiest ways to maintain a sense of self worth. Having bills mount, spin out of control and become day by day worries is no way to enjoy retirement.

Keeping a strict watch on spending, controlling necessary costs by keeping them within realistic limits, budgeting discretionary outlays to stay within absolute limits will enable you to reduce the fret of debt. Saying no to yourself and to others means that you have taken on the tough job of controlling spending. Check your monthly expenses with a sharp eye. What did we buy or do last month that we could have done without. How many times did we