As a daily money manager, January and February are dedicated to gathering and organizing tax documents for my clients. So, if you're helping a senior in your life prep for tax season, here's what you need to know. Watch the Mail for Tax Documents During January and February, important tax-related documents will arrive in the mail. While you may be able to set mail aside to deal with later during most of the year, the first two months of…
If you're helping seniors with mail management, you're in the right place. Managing mail can become overwhelming for older adults when catalogs, bills, and solicitations pile up daily. While you can't eliminate every piece that arrives, you can cut back quite a bit and create a system that works. Set Up a Mail Management System You can't be there to go through the mail every day, so set up a system they can use independently. Create clear categories for…
Currently, about 53 million Americans work as family caregivers. This is usually an unpaid role on top of a career, family, and other responsibilities. Unfortunately, the stress and work of being a family caregiver often lead to caregiver burnout. According to a 2020 report from the National Caregiving Alliance and AARP: 21% of caregivers reported their own health as fair or poor 40% feel their situation is high-intensity 24% are providing care for two more individuals 31% struggle with…
Family Caregivers are all unique individuals. Some caregivers live with the person they care for 24 hours a day, seven days a week. Other caregivers provide supportive care. The individual whose care they manage may live in their own home or a facility and require assistance from family members. These caretakers are frequently still employed and may have children at home. They are popularly known as the Sandwich Generation. Regardless of the type of family caregiver you are, your…
Retirement planning requires a lot of educated guessing in terms of how long you’ll live and at what age you’ll stop working. In general, people can expect to live at least 20 years post-retirement at age 65. Lifestyle, family history, and overall health are factors to consider. Long-Term Care Costs What hasn’t been factored in until recently, is the cost of any long-term care that might be needed. This is a much harder item to pin down. However, one…