Posts Tagged ‘ senior finances ’

WATCHING THE BOTTOM LINE

Aug 13th, 2013 | By Dr Jerry D Elrod | Category: Senior Moments Blog

How well you are doing financially has to do with the aggregate financial statement, which most seniors try to track very carefully and at least monthly. Excessive, uncontrolled, poor discipline in scrutinizing month to month expenses can get one in a financial quandary all too quickly.

A regular perusal of financial expenditures is an absolute requirement in retirement. Keeping those expenses at a well managed level creates comfort, reduces stress, and assures that your outgo and income will be well balanced.

Reviewing the bottom line should include the following:



SENIORS REGRET PURCHASES

Aug 12th, 2013 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Underneath the Glamour SCJ editors recently spent a holiday in a popular international resort, Cabo San Lucas. While there, they attended a presentation about buying a membership in a local resort, and discovered why resort memberships and timeshares are considered the number one regretted-purchase by seniors.// The presentation was shiny and glamorous, with all the [...]



SENIORS SAVE ON FUEL FOR CARS

Jul 6th, 2013 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Tips for Saving on Mileage On a recent excursion up to the mountains just east of us, we experienced the usual frenzy with holiday travel. Cars and trucks with campers were buzzing by us, pushing the speed limit around those nasty hairpin turns on the road. They were eager to get to their campground, get [...]



SOME FINANCIAL ‘UH-OH’s’ IN RETIREMENT

Mar 16th, 2013 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Some Unexpected Financial Hits Many seniors take a backward look at some point in retirement, and find their financial lives are somewhat different from what they expected. We did this recently, and found several expenses we neither anticipated nor expected.// Moving Expenses: We moved after 15 years of retirement. We did not anticipate doing that [...]



SENIOR CITIZEN CONCERNS: HOW TO PINCH PENNIES

Aug 3rd, 2012 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Find Extra Cash in Unusual Places Senior finances is still on the top ten list of things seniors are concerned about. Most senior citizens are on the constant prowl for saving money and picking up extra cash.  The SCJ article on discount shopping gets a lot of reading almost every day. A mental review of [...]



SENIOR FINANCE: BUYING YOUR NEXT VEHICLE

Jul 16th, 2012 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

More Ways to Save Money Seniors looking to buy a new car might be interested in finding some ways to spend less for the vehicle. What kind of auto are you interested in?  Should you buy or lease?  How do you know if you’re getting the best deal available?// Here are some tips to consider [...]



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



GUARANTEED INCOME PLANNING FOR SENIORS

Jan 29th, 2012 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

A recent discussion in a social situation brought some interesting considerations to light regarding senior citizen finances.  A group of seniors were talking about their needs for predictable guaranteed income, monthly sums they could depend on not influenced by the fluctuations of the stock market. Tens of thousands of senior citizens find themselves in this [...]



CHRISTMAS GIFT-GIVING FOR SENIOR CITIZENS

Dec 4th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

The What-To-Buy Dilemma Some seniors are lucky; they hit on just the right gift for each member of their family a few years ago, and have just repeated that every year for Christmas gift-giving.  Or they give gifts of money or gift cards to everyone, and it works for both the giver and receivers. Or [...]



SENIORS STOP BELIEVING FINANCIAL MYTHS

Oct 13th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Financial Myths Exposed Robert Reich, Chancellor’s Professor of Public Policy at the University of California at Berkeley, said this week that “The president’s jobs bill doesn’t have a chance in Congress – and the occupiers on Wall Street and elsewhere can’t become a national movement for a more equitable society – unless more Americans know [...]