ConsumerAffairs.com recently reported on the International Banking Group for their claims of certificates of deposit earning above average interest rates. Claims hold that IBG has focused on the affluent elderly in California and Florida, with the company suspiciously taking down their website. Information is key when it comes to how a senior should proceed about 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 San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.

Almost everyone is searching for a way to save money, especially when traveling. The good news for seniors is that this is possible! The following list will provide you with some tips when planning a vacation. It is important to start planning as soon as you can. This will help when trying to find the best deal. Working with a travel agent is the best way for seniors to book a vacation and find the best available price.

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

Image source: sxc.hu

Home Care San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.

Although Social Security premiums cannot legally be lowered, seniors will find themselves with shrinking social security checks over the next couple of years. For the first time in decades, there won’t be a cost of living adjustment on Social Security for the next 2 years, and since these payments won’t increase, seniors will find themselves with less money to survive on since premiums for Medicare Prescription Drug programs will increase marginally. With smaller social security checks, seniors will need to be more budget conscious than ever, and here are some money saving 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: stltoday.com

Home Care San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.

Many people try not to think about what their goals and expectations are for their retirement until the time comes. But it’s important that your parents start thinking about their plans for the future when they are nearing their 50s if not earlier to ensure that they’re able to plan financially and meet their goals. Talking to your parents about their retirement plans can help you learn what role you will need to play, and help them get on track!

6 Tips for helping your parents meet their retirement goals:

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 San Antonio? 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

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Home Care San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.

Whether you’re an older adult or a senior caregiver, you know that stress can be a regular part of your daily life. But while some level of stress might be normal, there are specific lifestyle factors that can leave you more vulnerable to the physical and emotional effects of stress, which can have and impact on your health.

The following factors can contribute to your stress vulnerability, and if they are part of your life, it’s probably time to make some changes and incorporate stress management techniques:

• You eat irregular meals, or do not have a regular, well-balanced diet

• You don’t engage in cardiovascular activities at least a couple of time per week, but ensure that they are safe for your level of physical fitness and mobility

• You rarely get a good night sleep of at least 8 hours per night

• You smoke or drink alcohol on a regular basis

• You have limited social contact, and don’t engage in social activities in your community or with your peers

• You lack a support system of family and friends that you can talk to about the things that are bothering you

• You refuse to talk with a professional when the stress gets to be too much

• You, like many Americans, are addicted to caffeine and consume multiple caffeinated drinks per day

• You find it impossible to find time to yourself, or feel guilty when you do so you never put yourself or your needs first

If the above sounds like you, you are putting your body and mind seriously at risk for stress related complications. You may suffer from a diabetes condition, heart condition, chronic fatigue, and even cancer.

Sources:

1. Medical News Today

2. Medicine Online

3. The American Institute of Stress

Image: www.gettyimages.com

Home Care San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.

Q – How does the financial crisis impact older Americans from a health perspective?

A – As today’s economic downturn has seniors worrying about rising interest rates, obsolete pensions, and the potential to lose their San Antonio homes; there’s an even bigger issue that’s plaguing the senior population that results immediately from the economic recession; failing health. With seniors facing increased levels of stress, in addition to anxiety and depression San Antonio seniors could come face to face with their mortality through the onset of other health problems. The stress caused by the credit crunch can directly result in increased cardiovascular problems, such as heart attack, hypertension and stroke; and through a weakened immune system can make the elderly more vulnerable to colds, viruses, and even some forms of cancer which could be lethal.

As seniors become more and more overwhelmed by their financial state as a result of the economic downturn; they have something even more concerning to worry about – the impact that all of the stress has on their health. As the financial crisis steals stability away from Americans nationwide, San Antonio elderly are also losing their lives right along with their livelihood.

Sources:

1. The American Institute of Stress
2. The Mayo Clinic

Image: www.qualityoflifecare.com

Home Care San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.

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 San Antonio 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 San Antonio, 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 San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.

“Longevity risk” is the term used to describe the increased lifespan of baby boomers which can ultimately result in them outliving their assets and funding for retirement. Not only are baby boomers living longer into their senior years than previous generations, but unlike their parents who had pensions to support them into old age; only 70% of baby boomers will retire with pensions today. Is it possible for seniors to live longer with fewer assets and income available to them?

According to a recent study by Ernst & Young, there is a very real risk that baby boomers and future generations who live longer will outlive their retirement funds. The study showed that 3 in 5 senior middle-class retirees who maintain the lifestyle they have prior to retirement will run out of money before they die. While many seniors may dream of vacationing during the winter months and living extravagantly to celebrate their senior years; they may in reality have to sacrifice these dreams in lieu of a more modest lifestyle, saving the hard-earned money they made during their working years to provide for the regular costs of living both before and during retirement.

Younger generations should start planning today to provide for their senior years by saving a percentage of their earned income in a retirement plan to provide for retirement living; and some baby boomers who have yet to save need to act fast and adjust their lifestyles so they have the money to fund their futures.

ConsumerAffairs Fred Yager

Home Care San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.

Prescription costs for seniors without healthcare and prescription coverage may find that their medication costs make up a substantial part of their daily living expenses, and during the recession an increased number of seniors may be choosing to go without their required medication to keep money in the bank.

According to a study completed by The Society of General Internal Medicine in 2001, pre-recession 8% of seniors were not taking some or all of their prescribed medication, as a result of the costs, when paying out of pocket without prescription coverage. With the Commonwealth Fund projecting that healthcare costs for seniors will be as great as $5,000 by 2011; funding medical and senior prescription costs is becoming increasingly more unaffordable for seniors without benefits living on a fixed income. During these tough recessionary times, many elderly people may be more fearful that their retirement income will not last; so they might be hesitant about taking on even necessary medical costs like prescriptions. According to Kenneth Schafermeyer, Director of Graduate Studies at the St. Louis College of Pharmacy “for some [seniors], it’s either eating, or paying the mortgage, or paying for healthcare” and that is an unfortunate reality of the economic situation today. Seniors are forced to make tough decisions that impact both their health and their livelihood.

Sources:  CourierJournal.com

Self-Restriction of Medications Due to Costs in Seniors Without Prescription Coverage

Home Care San Antonio provides senior care in San Antonio, Helotes, Leon Springs, Castroville, Pearsall, and Pleasanton. For more help, please call Home Instead Senior Care San Antonio at 210-614-1132.