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SIMPLY IN THE NEWS

Blumenthal's elder abuse prevention bill passes senate

8/7/2017

 

WSHU.ORG:
By Ebong Udoma

A bill aimed at curbing fraud and abuse of seniors is awaiting President Donald Trump’s signature. It was one of the bipartisan measures passed by Congress before lawmakers left for August recess last week. The Elder Abuse Prevention and Prosecution Act was sponsored by Democratic U.S. Senator Richard Blumenthal of Connecticut and Republican Senate Judiciary Committee Chair Chuck Grassley of Iowa. Blumenthal says he was moved to craft the law by the plight of Connecticut World War II veteran and purple heart recipient Robert Matava who was defrauded by his own son. Read More....

The Biggest Money Mistake We Make - Decade by Decade

11/1/2016

 
WALL STREET JOURNAL
By  Charlie Wells

Our relationship to money changes as we get older. So do the mistakes that we make with it.Every new stage of life brings new financial strategies we need to follow. And at every stage we find new ways not to follow those strategies, costing ourselves money and jeopardizing our security.
What’s more, economic and demographic changes ensure that those mistakes aren’t static, so that the mistakes of the current generations aren’t the same missteps that their predecessors struggled to avoid.

Read More.....

National Senior Citizens Day 2015

8/21/2015

 
August 21 - National Senior Citizens Day

Some people celebrate Senior Citizens Day on August 14 since that was the day President Franklin Roosevelt signed the Social Security Act into law in 1935. However, in 1988 President Ronald Reagan, declared August 21 to be National Senior Citizens Day.

This observance was established in honor of Senior Citizens in the US who made positive contributions in their communities. The day was also created to increase awareness of social, health, and economic issues that affect Senior Citizens and their families.


There are many seniors who volunteer their time and contribute to their communities everyday who do not get the recognition they deserve. If you happen to know one of these happy souls, be sure to say “Thank You” for their contribution.

There are also many seniors who are in critical need of assistance and care. I have conversations every day, both personally and professionally, about how one goes about taking care of the seniors we know and love. Often, the level of assistance needed and complexity of coordinating services seems very overwhelming, however these issues need to be addressed and resolved in a respectful, responsible and timely manner. There are many companies that specialize in providing various levels of care for both the family as well as the seniors; for example, Aging Wisely, LLC is an amazing company that I have worked with that continues to impress me in their level of professionalism, integrity and genuine care.   On this Senior Citizens day, if you are or know of someone who is struggling to help the seniors in their lives, connect them with the help they need through the myriad of providers out there. 

Let's also make sure to take a minute and say thank you to our seniors and those professionals who take care of them. Happy Senior Citizens Day!

Jennifer L Shulman


Caring for Aging Parents - 3 Professionals to Consult

3/27/2014

 
More Americans are living longer.  What happens when an aging parent can no longer care for themselves? Oftentimes, if arrangements have not already been made, their children step in and take responsibility for them. Here are some interesting facts from AARP:
  • This is the first time in history that American couples have had more parents than children.
  • Today, the average American woman can expect to spend 18 years caring for an older family member, compared to 17 for her children.
  • Almost 40% of all U.S. workers are more involved with caring for a parent than a child.
The odds are high that someday you may be required to care for an aging parent at some point.  It can be hard to know when your parents need help because, often times they will not ask for it. They may not want to be a burden or they feel as if they’re imposing. Before jumping in, you should consider the following:
  • How much help is needed?
  • If siblings are involved, do you divide and conquer? Geography is a factor when most are not in the same location or town.
  • What are the costs involved?
  • What type of care is needed?
  • Do they have any Long Term Care Insurance?
Once the above questions are answered, you are able to draw a clearer picture of what and who needs to be consulted, such as: an attorney, a certified financial planner and a daily money manager.

Attorney:
It is important to remember if you are going to begin to take on the responsibility be sure you consult with an attorney to establish decision making authority so you are able to make the care decisions. 

Certified Financial Planner:
You should also consider consulting with a certified financial planner to establish a good working picture of your parents financial status and available funds for payment of care. 

Daily Money Manager: Another professional to consider is a Daily Money Manager. They can take care of your parent's day-to-day financial concerns are provide a report of bills paid, financial events (keep track of important papers and renewals vital of insurance policies) as well as provide a second set of eyes on bank accounts to catch unnecessary fees and prevent identity theft.

Every family is different and the needs for caring for an aging parent are ever changing.
The key is to be proactive and be knowledgeable about your options.


    Page Maintained by: Jennifer Shulman

    Jennifer is committed to helping her clients as well as other folks improve their daily financial circumstances by providing simple financial solutions.

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  • Home
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    • Jennifer L Shulman, MBA, CDMM®
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