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Six Simple Money Management Tips for Seniors

By: James FlemingDollar Symbols

Unless you’re very lucky, you pretty much never reach an age where you stop worrying about money. In fact, retirement can often be a time when seniors worry about money the most. Because of this, about twenty percent of seniors are actually putting off retirement because they’re concerned that they don’t have enough money saved.

Whether you’re getting ready to retire or are already living on a fixed income and want to make the most of your savings, keep reading.

Listed below are six simple money management tips that will help you stay on top of your funds and feel confident that you’re covered no matter what comes your way.

1.Crated (and Stick to) a Budget

If you’ve never had a budget, now’s the time to start. It’s important to understand how much money you’re bringing in and how much you’re actually spending. This can be daunting at first, but it’s necessary if you want to really get a handle on your finances.

One of the easiest ways to establish a budget is to follow these guidelines:

  • Write down and put your values in order
  • Set financial goals for yourself
  • Figure out your monthly income
  • Figure out your monthly expenses
  • Allocate portions of your monthly funds to meet those expenses, starting with essentials like a house payment, car payment, and groceries
  • Make sure you’re setting aside money each month in a savings account — do this first so you’re not tempted to spend the extra cash on something else

2. Pay Down Your Current Debt and Avoid New Debt

If you have existing debt, paying it down should be at the top of your priority list. Make room in your budget to pay at least the minimum payment and make sure you’re making these payments on time.

It’s also important to avoid taking on new debt after you’ve retired. There are lots of companies that try to appeal to retirees and encourage them to borrow money or opt for something like a reverse mortgage or home equity loan. Resist these offers, no matter how appealing they may sound initially.

Taking on new debt when you’re already in a bind financially isn’t going to do you any favors.

3. Downsize

If, after writing down your expenses and taking of stock of your income, you realize that you’re spending more than your making (or don’t have as much to put in savings as you’d like), you may want to consider downsizing.

If you have an empty nest, maybe you can sell your home and move to one that’s smaller and easier to maintain? Do you have an extra car that’s always sitting in the driveway? Consider selling it.

You can also save a lot of money by canceling or downgrading your cable and cell phone packages and getting rid of unnecessary memberships and service fees.

4. Take Advantage of Senior Discounts

In general, when you’re trying to save money, it’s important to limit your shopping and eating out as much as possible. But, sometimes, you just need to take a break and do something fun.

The great thing about being a retiree is that it’s rare for you to have to pay full price when shopping or going out to eat. There are tons of senior benefits to take advantage of!

Before you plan a night out, search online or in the newspaper for coupons. You can also call restaurants and stores ahead of time to ask if they offer a senior discount. Utilize these offers whenever possible so you can still enjoy an occasional treat without it eating into your budget.

5. Take Steps to Save on Health Care

Depending on your current financial situation, you may qualify for Medicaid in addition to Medicare. This will help cut down on monthly deductibles and other health care costs that Medicare does not cover.

You can also ask your doctor to prescribe generic medications or cheaper equivalents to help you save on prescription drugs at the pharmacy.

6. Get Comfortable with Saying No

Finally, remember that there are probably going to be times when you have to tell your friends and family no when they come to your help with money.

While there are definitely emergency situations in which it’s fine to help out, remember that your financial health needs to remain a priority. If you truly can’t afford to give someone a loan, just say no.

Final Thoughts

Money management can be stressful, especially if you haven’t made a habit of keeping up with your finances as well as you should. You’re not destined to struggle with money, though.

By applying these tips, you can significantly improve your ability to manage money and make sure you’re taken care of when a ready day comes along.

 

Sustainable Adult Day Care is the Future

Research shows that as of 2015, the world’s geriatric population consisted of around 617 million people, roughly 8.5 % of the total population. This number is projected to grow to 1.6 billion people by the year 2050. This growth is driven by the increasing aging population, medical expenditures and increased affordability. With so much growth within the market place, adult day care providers can keep up with the demand and lower costs by making simple adjustments to their facilities to make them more sustainable and patient-friendly.

Simple Changes, Big Results

As the times change, the millennial demographic has demonstrated that sustainability matters to them. All kinds of businesses are accommodating that sensibility by making simple changes whether it be using more eco-friendly products, non-toxic materials or changing the way their facilities are being constructed with larger windows for natural light, better ventilation, water-saving fixtures and solar panels to store and apply power. Adult day care facilities will not only gain more business by applying these changes, they will lower their increasing operating costs as well. Sustainable, eco-friendly centers will create a clean atmosphere that makes millennials feel secure in leaving their parents in the center’s care.

Use Nature to Your Advantage

Simply put, everyone likes being outside, even the elderly. Providing a small community garden is a great spot for care receivers to gather and socialize. It provides them with a new hobby while getting fresh air and finding a new purpose. They feel a sense of pride when the vegetables they helped cultivate are able to be used for meals within the center. Having garden paths and walkways are great features for adult care centers to implement because it makes the facility more beautiful and provides a natural resource for the residents and staff to get exercise and sunshine. Transportation services are also a great feature for adult day care centers to have because it eases the burden for the caregivers while also being an environmental-friendly option.

Small Changes, Great Place

These minor changes will help lower costs while bringing in more business. The best part is that they reinforce the overall goals of the centers, to provide a safe and clean environment for elderly patients to socialize, receive health care and find recreation and companionship.

How to Prepare to Discuss Your Nursing Home Benefits to Potential Clients

When a potential client is coming for a visit, what types of things should you be prepared with to best market the benefits of your facility? Knowing information about the person or persons visiting, ahead of time, will help you to present a clear and helpful presentation. When a person calls to schedule an appointment have a form ready to try and collect as much information as possible. Having a form to collect the desired information will help to ensure a consistency of information regardless of who is answering the call.

Helpful information to include on the form:

Who is coming – Aside from getting important contact information like name, phone number, email, etc. it is also helpful to know their role in the decision making process. Are they the current caretaker, if so they will most likely be interested in determining if your facility is a safe place to live with a reliable staff. Are they a potential client, then they may be interested in hearing about available activities, the food, the cleanliness of the facility and the choices they have in making their rooms feel more like home.

Special Care Considerations – Knowing any medical or mental considerations ahead of time will also help you to personalize the visit to showcase how your staff will be able to help. These considerations can come from normal conversation about what they are looking for. For example, the caregiver says that her mother is falling more often, and she’s really concerned about her balance and frustrated about her not wanting to use her walker. Having a section on the form that these types of notes can be jotted down will allow you to be prepared to talk about the way that your staff interacts with people who have these similar concerns.

Unique offerings – Knowing what obstacles a potential client may have can give you room to talk about things that your facility offers that others may not. Suppose the client doesn’t want to go into a nursing home because they won’t live without their dog. If your advertisements show that you allow pets, that may be a big reason that they would like to come and visit. Knowing ahead of time that this could be a determining factor, perhaps the tour can include a visit with a client that is a animal lover and show how well the animal lives in their home space. Other offerings to showcase may include therapeutic programs, your special credentials, or types of extracurricular activities you offer.

Training your staff to be good listeners when taking potential client calls, can help you to make the sale easier by being ready with examples to fit the unique family needs. Then during the visit a continuation of active listening can really help you to understand what is important to them, and what is or isn’t a good fit and how you can help them to make your nursing home the right fit for them.

Senior Inclusion; Connecting to the Outside World.

Seniors often worry that when they retire and move to a Senior community, that they will lose their connections with others. To attract seniors to your community and show them that you want to soothe their fears of isolation, you can take the following steps to help them feel connected.

A Sense of Community

No one wants to live in an isolated setting. Show people that you are a community where they can have easy access to the outside world – plan events that include seniors and their families on a regular basis. Ensure that there is a feeling of effortless access; make it so that transportation, pick-ups and using their vehicles if they are still able to can be a simple process. Make sure that everything is user-friendly and handicapped accessible. If you are in areas that get cold and snow, have regular snow removers and ensure that the parking lots and paths to the community are well groomed.

Access to Technology

Seniors want all the comforts of home at their fingertips, and that includes items such as WI-FI and computers. Many people who live in senior housing do not have access to computers so a well-stocked computer lab would be very beneficial. Computer literacy classes on how to work Skype, email, and FaceTime would allow seniors to learn how to connect online. Social media classes explaining the different aspects of all the latest media would often be appreciated as well. Giving seniors access to the ability to contact family and loved ones all over the world will help to keep them happy as they age.

Include the Culture of the Local Area

People want to remain connected with the outside world when they retire into a senior community. There are several areas where the center can connect with locals to bring in some culture from nearby. Some of these ideas include talking to the following: schools, community centers, and local theaters. Many churches offer volunteer services to connect with the senior communities as well. All of these things help seniors so that they don’t feel isolated when they move into a senior community.

.Seniors want a place where they don’t feel isolated and alone. Make them see that your community stands out from the rest with innovative ideas that help them communicate and explore the world

7 Reasons to Utilize Print Advertising

There is a competitive market for your advertising dollars, particularly with the rise in popularity of digital media. While it can be difficult to decide where you will get the best ROI for your budget, there are some key aspects to consider when choosing where to advertise.

See below for 7 key reasons to advertise in print, particularly when targeting seniors:

1. Credibility

Print media is not only familiar to this demographic, but has been around for decades longer, lending a level of credibility that many still may not feel with digital advertising. Many seniors will consider messaging more legitimate when they see something in print.

2. Targeted Marketing

While digital media boasts the ability to target a specific demographic, there is also a lot of targeting available via print media if you know your audience. Baby boomers still read the newspaper, they attend performance art (you can advertise in the programs), they read their mail, and periuse guides, especially those given to themby professionals! There are several possibilities to consider when attempting to reach this audience.

3. Reader Interaction

Have you ever visited a senior friend or relative and noticed that they have things hanging on their refrigerator or papers stacked neatly in a pile on their desk? When they see something that interests them, they will often tear it out and save it for later. The interaction potential with a print ad is a great benefit to the medium.

4. Build Trust

Seniors display a level of brand loyalty that cannot be ignored. If your institution or organization advertises in a publication they trust, they are more likely to trust you and build a loyalty to your brand over time via the association.

5. Targeting Income Levels

Many advertising companies have the ability to pull mailing lists based on zip codes and zip codes can be selected and targeted based on median home value. If the seniors utilizing your services fall into a specific income bracket, this is one way to find them and send them some information about your business.

6. Repetition Discounts

Print media options like newspapers and magazines will often offer a discount if you schedule a repetitive ad with their company. Speak with your sales rep to ask about targeting the ads when applicable articles or news coverage is running that would draw the attention of your intended audience. If the ad is already designed and sized, it can be added in some publications without too much advance notice.

Finding the right print media options for you can be as simple as asking some of your target audience what they like to read, how often they like to read it and whether or not they pay attention to the advertising within the publication. Take a look around nursing homes, doctors offices, senior centers, pharmacies and the supermarket and ask around to determine which publications are easily accessible and found in multiple and various locations. Once you narrow down which publications to try, be sure to track when  your ads are placed and whether or not you receive any feedback. Although this is difficult, it will help determine whether or not these investments are worthwhile for the future.

Home Care Assisted Living

As we get older, our bodies as well as our minds change.  For many of us, our lives become very static for the last few decades of life.  We become set in our routines, surrounded by objects and mementos that remind us of our lives and personal history.  It is a comfort found unfamiliarity.  Sometimes this existence replaces social outlets, as friends and family begin to dwindle, often leaving the elderly with only memories of their past to keep them company.

As our lives begin to wind down, we might face dementia or simply find ourselves embedded in our routines and environments to the point where a major move or change becomes upsetting. Completely changing a person’s surroundings, especially if they are battling Alzheimer’s or dementia, could be unnecessarily traumatic.  Even to the point where it could cause depression, and affect their quality of life.  They might even become angry, confused, and try to “escape” their new home.  Which can all stress them out to the point where it shortens what remaining years they have.

Also, not all elderly people become reclusive.  Sometimes they are surrounded by friends and family, loved ones who make regular visits. They have a set routine with healthy social outlets that keep their minds and spirits up. They might have everything they need to live out the rest of their lives in happiness and comfort without needing to be moved to a full-time care facility. Without the often difficult transition to a nursing home, the elderly can find comfort in familiar surroundings, have better access to loved ones, and get to have the quiet enjoyment they have grown to appreciate where they have been for so many years already.  Safe and sound at home.

What if you could make your loved one as comfortable as possible, with all the benefits of full-time care right at home?  This is not only possible, but many times the best decision you can make with your family.  With much the same care that can be found at an assisted living, nursing home or full-care facility.  Your loved one can avoid the confusion and depression which sometimes follows a big move.

Home Care professionals offer the services of daily care such as laundry, cooking, cleaning, and helping your loved one with tasks such as hygiene and making their appointments, getting their hair done or transport to where they need to be.  They also offer companionship for what could potentially become a lonely existence, even surrounded by the accumulation of their lives and past.

Later years in one’s life should be met with caring and compassion. For many, the result of leaving home to start a new adventure with new people might be exciting and liberating, yet for others the positive aspects of this are often lost to the fear and confusion of such a major change happening at a vulnerable point in their lives.  Home Care offers a solution in those times.

5 Tips for Reaching Seniors On Social Media

When it comes to marketing to seniors, many people overlook social media. The reality, however, is that many seniors are using social media, and with the proper social media marketing strategy, you can reach them effectively. Here are some tips for marketing to seniors on social media.

Choose the Right Social Media Platform

Facebook and Twitter may be better platforms to use than something like Snapchat or LinkedIn, which attract a younger crowd. Instagram is also a good platform. Don’t forget Youtube, which is a great place to establish yourself as an expert on retirement living advice and also provide peeks into what life is like in your community.

Tap Into the Power of Visuals

Social media lets you create a portfolio of the best snapshots of your retirement living community. Use Instagram and Facebook to showcase the best moments experienced at your community and the pictures that best display the comfort and warmth that you offer.

Use Demographic Targeting

Facebook has great tools that let you target specific demographics in your advertising campaigns. You can target people of a certain age, people who make a certain amount of money per year, people who have shown an interest in a particular subject, and much more. This makes it easy to target either seniors or their children.

Establish a Community

Social media allows you to establish a community. You can provide a platform where you offer tips and advice on retirement living. You can use your platform to announce upcoming events and other happenings at your living facility.

Promote Trial Runs

You can promote trial runs at your facility. For example, you can host one-day events that allow people to experience what living in your community is like without any commitment. This is a great way for people to get over the fear that they may not like it.

Long-term Care Insurance is Different from Traditional Health Insurance

Many believe that the government will pay for their long-term healthcare needs when they’re older. Unfortunately, several misconceptions circulate the web regarding health insurance for seniors, and these days many rely on social media posts for their daily news. Though, some media posts may be unreliable and it’s important for your health and wellness to keep up-to-date with reliable information from a verifiable source.

Common Misconceptions Regarding Health Insurance Coverage  
One common misconception: “my health insurance will cover the costs of my long-care needs.” Only under certain circumstances and up to a maximum of 100 days will Medicare cover your long-term care needs. Typically, most health insurances plans don’t even cover the costs of basic care needs associated with chronic illnesses or traumatic injuries. As a result, many seniors are seeking long-term care insurance plans to help them pay for these additional costs.
Long-term Care Insurance is Different from Traditional Health Insurance
Traditional health insurance is not the same as long-term care insurance (LTCI). Simply put, LTCI covers your long-term care needs when the effects of aging impact your daily life. It includes support and services, such as custodial and personal care, in your own home or a nursing facility. Like any insurance policy, the various benefits and care options depend on the preferred insurance company you choose. This will determine how much funds you can spend to pay for the services and personnel you need to help you with activities, like eating and dressing.
How Do Insurance Companies Calculate Your Premiums?
Insurance companies calculate your premiums on the following factors:
  • Age ~ Specifically, the age you were when you purchased the policy. The older you are, the more likely they are to decline you. Some insurance companies deny seniors over the age of eighty-years. The younger you are when you purchase LTCI the better because you have more time to build up your assets for the future.
  • Gender ~ Women live longer than men and insurance companies feel it is only fair that women pay up. Ladies expect your premiums to me much higher than your male counterparts.
  • Health ~ This one is a no brainer. If you are currently receiving treatment for a chronic illness, it’s likely you will have higher premiums or possibly be denied coverage.
There are other variables insurance companies consider, like inflation and the benefit period, but ultimately your age and health play a pivotal role in your premiums. What’s important is to do your research and compare insurance prices before choosing one. There are varying price ranges, but an average LTCI for a couple in their late fifties or early sixties typically ranges from $2,000 to $4,000 per year.
Long-term Care Insurance is Different in Each State
Long-term care insurance is state regulated and each state has different companies and policies available. The best time for you to buy LTCI is when you are in your mid-fifties. If you are looking for a place to begin, talk with your provider or try searching here. Start planning today to enjoy a healthier tomorrow!

5 Tips for Being More Effective When Marketing to Seniors

When marketing to seniors, you can’t use the same tactics that everyone uses to target the millennial audience. This is especially true when creating ad campaigns for your retirement living community. Here are some tips for marketing your retirement community to seniors and their loved ones.

Be Straightforward

Cute and catchy marketing slogans may work for the younger crowd, but older people generally want you to get to the point. Be straightforward and clear with your message. Clearly explain the benefits you provide.

Don’t Confuse Them

Remember that seniors may not be familiar with slang words and abbreviations. Even simple slang abbreviations like LOL may be unfamiliar to them. They may not know what various emojis signify either. Avoid referencing cultural fads that are popular among the young crowd.

Focus On Customer Experience

When marketing to seniors, always focus on providing the highest value. Emphasize this in your advertisements. A big part of this is having great customer support. Be authentic, caring, and helpful in your marketing campaigns and in the way you interact with new leads.

Use Sponsored Content

Consider using native advertising (sponsored material in a publication or website besides your own, often in the middle of another article) when marketing to seniors. You want to stay away from being overly promotional. Sponsored content and native advertising on other blogs can help you get the exposure you want without seeming too pushy.

Focus On Pain Points

Try to focus on your target demographic and place an emphasis on their pain points. If you are targeting a middle-aged daughter who wants the best for her elderly mother, for example, focus on the things that cause her pain and how you will alleviate it. In such a case, it might be her worrying about her mother while she is taking care of her children or trying to balance taking care of her mother and her responsibilities at work.

Let New LifeStyles help you market to seniors in need of help. Click to view the many ways we can help you get your message in front them.

Home Care: Complications of a Stroke

A stroke happens when a blood vessel gets blocked or it ruptures. The brain is not able to get enough blood and oxygen so it is unable to continue to work normally. Eventually, brain cells die.

There are many complications of a stroke and these include:

Each person who suffers from a stroke is different. This makes it hard to know what challenges each person will have and the best way to help them. There is no cut-and-dry way to help them. Instead, you have to work through each complication that they have.

Many struggle with communication. Many are unable to communicate the same way after their stroke. Sometimes, comprehension is the issue while other times a patient may have aphasia.

Difficulty swallowing is also another common complication from a stroke. Not only does this make communication difficult, it can also make it hard to get the nutrition that they need. Special diets may be necessary, though you may also have to help them clear out their mouth.

Many have behavior changes. They may act impulsively, without thinking. Many don’t understand their limitations and try to do more than they are able to.

Many patients struggle with their emotions after a stroke. Because of their limitations and how hard it can be to do things, many patients are angry. Others get anxious and become depressed.

Because there are many complications that happen after a stroke, it is important that caregivers are prepared to help. They may need to help with every day tasks like bathing, eating, and drinking. They also will need to be there as the emotions take over.