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.

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.

When choosing a Walnut Creek home care agency to provide care for an aging loved one, it’s important that families know exactly what they’re getting themselves into. There are a significant number of agencies out there that can place senior care specialists in the home of a senior, and they come at all price points. However, don’t be fooled by some of the home care agencies that promise the world at a lower price, because you’ll encounter more complications than its worth in many cases that can compromise the level of care received by your loved one.

Many home care registries operate in Walnut Creek and around the country; but they’re not to be confused with licensed home care agencies. These home care registries hire their senior care specialists as private contractors rather than employees which can be convoluted when it comes to dealing with the taxes and legalities surrounding hiring a caregiver from a registry. While some of these home care organizations charge less strictly for connecting families with caregivers, families may be responsible for paying taxes, workman’s compensation and other aspects. Some home care registries do cover these costs, but since caregivers under their wing are licensed contractors only, there can be some serious legal and financial repercussions which can drain the family of all resources if a workman’s compensation claim is made after the caregiver has had an accident or injury on the job.

By hiring a caregiver from a licensed home care agency like Home Instead Senior Care, all caregivers are employees of the company, categorized as “nurses and other healthcare workers who travel”. Based on this categorization, fees might be higher, but Home Instead takes care of all of the dirty work; paying all taxes and fees, with no repercussions to the senior’s family should the caregiver have an accident.

It may be tempting during times of financial crisis to pinch pennies in all areas of life, but when it comes to senior home care, you get what you pay for; so if you want quality care with no legal ramifications, go with a licensed home care agency, and you’ll have no regrets.

Sources:

1. Gilbert Guide

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.

Q – I know my mother in Walnut Creek receives a lot of calls from telemarketers, and I worry that she might be exploited when they realize she’s a senior. Is there any way to make them stop calling?

A – Good news for your mother from Walnut Creek who can be registered for the National Do Not Call Registry established by the Federal Trade Commission in the United States which ensures that most telemarketers are blocked from calling her phone number. You can register your mom online or by calling in, and all you need is her name and phone number to add her to the list. After registering your elderly mother, she may continue to receive telemarketer calls for up to 30 days until the request takes effect. Some telemarketers will still be able to call, even if your mother is on the Do Not Call List, but only from those businesses that she has a relationship with, like the financial institution where she does her banking.

By registering your mother for the National Do Not Call Registry, you can sleep easy knowing that she won’t receive calls from telemarketers that might exploit her.

Sources:
1. Federal Trade Commission
2. DoNotCall

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.

Choosing an estate executor to manage your affairs in Walnut Creek after your death is a big deal. You can hire a professional, or choose a family member or friend who is trustworthy and reliable; often children of aging parents are appointed estate executors of their parent’s will. But, if you choose someone with a personal relationship to you, ensure it’s someone that could handle the responsibility while dealing with the stress of your passing. Depending upon the state of your affairs, an estate executor’s job might be relatively easy and can include any of the following:

•    Beginning the probate process – filing the will and petition for probate. Specific probate laws apply for the process in Walnut Creek and may vary between states.
•    Notifying the family – close family members can be notified that their loved one has deceased.
•    Obtaining death certificates and EIN (Federal tax number for the estate)
•    Determining and collecting the deceased assets (locating documents that verify value of the estate and make an inventory list)
•    Letting people know who the executor is – family members and friends with claims will need to get in touch with the estate executor
•    Managing the property of the estate – paying bills, taxes and other on going duties
•    Settle Finances – filing income tax returns on behalf of the deceased
•    Distributing assets – distribute assets to those named on the will
•    Be removed as executor – once the estate is settled, petition the courts to be removed as executor

Sources:
1.   Third Age Alan S. Novik
2.    AFSP

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.

Hiring a professional caregiver to help out a senior at home, can be a big decision. Hiring a caregiver from a professional caregiving agency has its benefit over hiring a private caregiver for a number of reasons. Even though caregiving agencies can be more costly, the piece of mind a caregiving agency can offer is well worth the expense. A professional caregiving agency, like Home Instead Senior Care, helps mandate the care provided by its caregivers; it dictates exactly what role the caregiver will play in the home and care of a senior, and helps to select a caregiver that will best fit the care recipient’s lifestyle, needs and personality. With a professional caregiving agency, elderly home caregivers receive comprehensive training in non-medical care techniques, so families can feel confident that their seniors are receiving quality care.

While hiring a private caregiver might sometimes save money, the hassles that come with making that care decision aren’t generally worth the savings. Unless you hire a private caregiver who files their taxes as an independent contractor, families become the caregiver’s employer, which requires that you pay Social Security, Employment and payroll taxes.

Sources:
1.    Caregiver’s Home Companion
2.    Elderlaw Cincinnati

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.

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.

Are you having a difficult time juggling work and caregiving? Are the demands of both stressing you out?  I know when sitting at my desk and researching elder care topics for mom and dad was extremely time consuming. And then my manager wondered out loud… “productivity is dropping, Carol.”  But at the time it wasn’t so nicely said.

That was my struggle.  Balancing my mom and dad’s health and needs with my employer and also with myself! After all; I had a life too!  Some helpful hints, especially when working full-time:

1. Don’t keep it a secret - Let your employer/manager/HR know of your dilemma and needs around caring for aging relatives

2. Listen up - There are many family caregivers at work who face those dreaded challenges too. Develop your own caring support group at work.  Believe me, when walking the halls at work, (discreetly) pay attention to a few phone conversations - you’ll be surprised how many of us are facing same issues.

3. Build that support group - meet up during lunch hour (if you’re not running an errand for your loved one) and ask for advice or referrals… family caregivers usually have a notebook full of valuable phone numbers and aging service referrals. Support is needed, so ASK FOR HELP!  You are not alone.

Hope these spark a few ideas in your over-worked brain.  I find these 3 tips to be very useful. Also, sign up for our free Newsletter… it’s loaded with good “how to” juggle work and caregiving. Go for it! Sign up here.

Thank you and come back for more Useful Tips on Caring!