Sadly, seniors can be the most likely victims of financial scams, risky investments, and unscrupulous financial brokers. Normally seniors have no idea they have even been scammed. There are several resources seniors and senior caregivers can look to for help when dealing with financial investments.

• If it sounds too good to be true it probably is— One of the best questions a senior can ask is simply about the investment itself, questioning if the broker or product is registered with the state or national regulatory authorities. Be cautious of broker claims that their certificates of deposit (CDs) earn above average interest rates. Many companies trying to scam seniors will say the pay will yield much higher rates of return than normal.

• Be extremely skeptical of salespeople—Scammers target seniors by going door-to-door or pestering them with phone calls.

• Research, research, research—Check the U.S. Securities & Exchange Commission’s list found at www.sec.gov/investor/oiepauselist.htm of unregistered entities with consumer complaints. Also, make sure you do not agree to an investment without consulting family and friends.

• If you have been scammed, all is not lost—Financial crimes against seniors often go under reported, with seniors feeling ashamed or they do not know where to report the company. To file a complaint against a broker or firm, visit www.finra.org/complaint. Read about a seller’s background, at www.SaveandInvest.org or call 888-295-7422. For more on brokers or firms, call 800-289-9999 or log onto www.finra.org/brokercheck.

Source: ConsumerAffairs.com

Image Source: sxc.hu

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

There are many seniors who spend their later years traveling. They wish to see all that they can while they have the time after retirement. Doing this can sometimes be costly, but by following a few suggested tips, senior travelers can find many discounts. When planning a trip, it is important to begin as early as possible. Doing so will allow your travel agent the time needed to find what discounts are available during the time you will be traveling.

1. Make sure to know personal preferences before contacting a travel agent. These requests should be made in advance. Some common requests for traveling seniors include aisle seats on airplanes, morning flights and non-smoking accommodations.

2. Be sure to deal with a travel agent directly. Many travel agents have personal assistants that relay messages. If possible, try to arrange to speak with the agent directly.

3. If there are time constraints, make sure to have a back-up plan. Use a calendar to plan for schedule changes. Often times, a change in time could mean a greater discount.

4. Inquire about car rentals and hotel rooms. Your travel agent may be able to book a complete package which would offer additional savings.

Source: www.ehow.com

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

Q – I’ve been thinking about introducing some of the principles of art therapy to my elderly mother who suffers from Alzheimer’s disease, but I recently read an article that said there are only benefits in the creative process if the activities are lead by a professional. Is there any truth to this, and how can I try to replicate the benefits?

A – Art therapists may use specialized techniques that can further enhance the benefits of the artistic experience for seniors, but by following similar principles, you can also use the creative process to help your mother with communication and self-expression, and those are just a few of the benefits:

1. Choose activities suitable to the senior’s level of mobility – although skill really doesn’t play a role in the benefits of artistic expression and seniors, you don’t want to make the experience frustrating for them. Keep a senior’s physical abilities in mind when choosing an activity.

2. Make activities challenging – age doesn’t mean seniors are less capable of creation. Don’t choose activities that are too simple, like those you’d give to a child.

3. Create a quiet environment – to receive the best possible benefits from a creative activity, seniors need a quiet environment where they can simply focus on creating. An area free from distraction will help set the tone for the creative process

4. Think about long-term projects – a quick craft that can be finished in a couple of hours won’t have the same benefits as one that extends over a period of time. Choosing an activity that seniors can think about and go back to day after day will really get the creative juices flowing

5. Work together – remember, even if you’re working on an art project together, don’t take over and don’t try to lead; it’s not about the end result of the creation, it’s about the journey along the way

Sources:

1. Washington Post

2. My Optum Health

3. Associated Content

Image: artandaging.com

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

Walnut Creek seniors who receive Social Security benefits will find that their checks will suddenly get smaller over the next couple of years. As of next year, there will no longer be a cost of living adjustment, and for seniors who pay premiums for the Medicare Prescription Drug program, the lack of adjustment will not offset this cost resulting in decreased check amounts. With this being implemented over the next 2 years, seniors on Social Security will need to be more budget conscious than ever before, and can save money with these 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: ssa.gov

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

Some of us are just hoping that by the time retirement rolls around, everything falls into place – that we’re able to pursue our goals, and that we’ll have the finances we need to chase our dreams. But to ensure we’ll reach our retirement goals, planning is necessary. And if your aging parents are as described above, you might just need to give them a push in the right direction by talking to them about retirement planning.

6 tips for early retirement planning:

1. Start early – talk to your parents about their retirement plans by the time they are 50…earlier is okay too, but don’t wait too long! However, if your parents are already retired, it’s not too late to have this conversation
2. Know their retirement goals – where do your parents want to live when they retire? Do they want to remain in Ventura? Do they want to travel? Do they want to take on any new hobbies or continue with old ones? This will help determine their financial needs for retirement
3. How much? – you might not feel comfortable asking your parents about their finances, but it’s important to know if they have saved enough to get them through their retirement, while still meeting their goals. Ensure you let them know that they can’t live on their Social Security Benefits alone; according to studies, these only cover about 40% of retirement living expenses
4. Check Social Security Benefits – although seniors can’t live on their Social Security Benefit alone, requesting to know how much they will receive can help with financial planning for retirement
5. Let them know early retirement might be a possibility – whether or not they hope to retire early, with the economy today, many people are forced to retire at an earlier age. Take a look at the industry that your parents work in; if they are in an industry that’s really being effected, it might result in early retirement
6. Discuss health care – knowing what your parents would want with regards to their health care is perhaps the most important so you know what to do if they are not able to speak for themselves. You can also encourage them to draft a living will, but make sure you know what they’d want with regards to senior services as well as health care

Via: Senior.com

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

During tough economic times, seniors living on fixed incomes may be reluctant to travel and venture away from their Walnut Creek homes because of the costs involved. With Elderhostel, educational travel programs are available for under $600 for travel within the United States. Some of the trips offered by Elderhostel are intergenerational, meaning that grandchildren are encouraged to attend and specific child-friendly activities are offered. A few interesting and affordable senior-friendly travel programs offered by Elderhostel include the following; all include transportation where necessary and meals:

• The Scene of the Crime – 3 night California program which teaches seniors about forensic techniques straight out of CSI
• Fall Migration: Great Birding on the Alabama Coast – 4 night Mobile Alabama bird watching travel program
• Celebrating the Feminine in Judaism – 3 night travel and educational program in Connecticut for seniors
• Italy: A Festival of the Heart – 5 night exploration of Italian culture in Indiana

Sources:

1. Suite101
2. Elderhostel

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

As my mom in Walnut Creek struggles with the loss of her financial stability, due to rising interest rates resulting from the financial crisis; she has also come face to face with another very scary reality. While she might find the strength and the resources to overcome the economic recession, we might not be able to say the same for her health. As the economy continues to go down the toilet, the weight on my mother’s shoulders is rapidly increasing and taking a direct toll on her health. My once vibrant and full of life mother has found that not only is this financial crisis costing her money; but it could also cost her, her life. With her weakened immune system and history of cardiovascular problems, my mother is at risk for more than just depression and anxiety; she could also face a heart attack, stroke, hypertension, or the onset of another potentially fatal disease.

But I don’t believe that it’s too late; I won’t let my mother just lay down and die as a result of this economic recession. Through diet, exercise, and encouragement in activities she once enjoyed, I’m trying to get my mother to take back her life in Walnut Creek and her health; even if she’s not able to take control over the affect the economy is having on her financial stability.

Sources:

1. The American Institute of Stress

2. The Mayo Clinic

Image: pro.corbis.com

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

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 Walnut Creek 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 Walnut Creek, 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 Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

Under Obama’s 2009 Economic Stimulus Plan, seniors who meet specific qualifications will be receiving a $250 rebate check to help improve the lives and challenges of those who are retired and living under limited financial means. Checks will be received by elderly people who have received Social Security, Supplemental Security Income (SSI), Railroad Retirement or Veterans Benefits between November 2008 and January 2009.

According to US Vice President Joe Biden, Stimulus Checks should be received by seniors beginning in early May, and will be kept separate from existing benefit checks typically received by eligible seniors. Seniors will receive these checks automatically and no action is required.

The 2009 Stimulus Checks for seniors come at a great time for the elderly who, during a time of economic uncertainty may be highly concerned due to their limited income levels.

Sources:
1.    Senior Journal
2.   SS Social Security Info

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.

Q – What is senior financial abuse, and how can it be prevented?

Senior financial abuse is any situation where a senior and/or their money are exploited for monetary gain. Seniors in Walnut Creek, are a major target of financial abuse because they can be dependent upon others, they can be trusting, and they may have minimal experience managing their financial affairs; oh, and they also control 70% of personal assets in North America. Financial abuse takes a number of forms; some seniors may be financially exploited by their own family members, their caregivers may take advantage of their money, and may be stolen from through elaborate scams.

Tips to Avoid Senior Financial Abuse:

1.    Protect personal information – SSN, PIN numbers and other financial data should be protected and never given to anyone (except a financial power of attorney)
2.    Background checks and references – anyone hired to work for a senior, as a laborer or caregiver should be thoroughly screened with background checks and follow up on personal and professional references
3.    Never pay for anything – often sweepstakes or lottery scams require a senior to pay money in order to claim a prize. Seniors should never have to pay to receive winnings
4.    Have a backup – seniors should seek the help of a trusted family member to review and oversee major financial transactions. Having a second set of eyes to assist with decisions will help protect seniors from financial abuse
5.    Report it – report any suspicious persons to senior advocacy agencies and the local police

Sources:
1.    Associated Content Susan Rand
2.   Sun-Times News Group Terry Savage

Home Care Walnut Creek, CA delivering home care and elderly services to seniors in the Contra Costa area including Concord. Call us 925-280-9688.