As inflation reduces people’s buying power, it can be difficult for people to afford living expenses like food, housing, and medical care. In response to rising costs, the government and some employers have implemented Cost of Living Adjustments (COLAs) that increases the amount of money you receive each month. In this post, we’ll explain what […]
Cost of Living Adjustments Explained for 2025 Read More »
Your senior years are often referred to as your “golden years” because they’re supposed to represent the time in your life where you can relax after a lifetime of work. However, rising costs associated with inflation can put financial strain on seniors’ finances. Without proper planning, seniors may find their expenses are greater than their
Free Senior Budget Template for 2025 Read More »
As inflation increases the cost of living, many seniors are having to stretch their savings further or even go back to work. In fact, 46% of seniors between the ages of 60-75 say they plan to work part time in retirement. Working doesn’t mean you have to go back to your old job, as advancements in technology
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America is facing a retirement crisis, as many people have inadequate savings and are having to work well into their senior years to pay for living expenses. The situation may also worsen over the next decade, as social security benefits are expected to be cut by as much as 20% at the same time as
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*Disclaimer: Content updated with 3 new questions. Choosing a nursing home is one of the most difficult decisions a family can make. Whether you’re helping a parent transition into long-term care or preparing for your own future, it’s not just about picking a place, it’s about finding the right level of care, compassion, safety, and
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When you retire, the goal should be to have enough savings and monthly income to maintain your lifestyle. To help you plan, we’ll share what a good monthly retirement is and sources of income you can utilize to fund retirement. What’s a good monthly retirement income? To maintain your lifestyle in retirement, most financial planners recommend
What Is A Good Monthly Retirement Income? Read More »
Medicaid is a widely utilized government program to help with health costs, with over 90 million Americans enrolled in Medicaid or CHIP as of August 2022. Among benefits provided by the program, is assistance paying for long-term care that costs $1,625 per month on average throughout the United States. After retiring, seniors may find their finances stretched
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Acknowledging your elderly parent or loved one isn’t as self-sufficient as they used to be is difficult for many people to accept, but recognizing the signs and taking the proper steps is important for their long-term health. As your parent becomes older or their condition deteriorates, you may find yourself having to devote more time
Does Your Elderly Parent Need 24-Hour Care? Read More »
As inflation and the cost of living goes up, many people are looking for ways to save and stretch their dollars further. Luckily for seniors, many stores and restaurants offer discounts to people above a certain age. If you’re not sure which places offer discounts or which ones are worthwhile, we’ve compiled a list of
The Top of Senior Discounts of 2023 Read More »
In 2024, the median cost of a a private room in a nursing home is $9,872 per month or $8,641 for a semi-private room. Annually, this amounts to over $100,000 a year which is high enough that even seniors with a good monthly retirement income may struggle to pay expenses. So what happens if
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