May is Older Americans Month, making it an excellent time both to celebrate aging parents and to think about issues they may be facing. As part of Older Americans Month, the Administration on Aging and the Administration for Community Living have jointly released a number of tip sheets on areas of interest to aging parents and other seniors. One of these tip sheets encourages seniors to “blaze a trail to securing your finances.”
That’s good advice. According to the 2014 census, the median income for households with householders 65 and up was $36,895. A full 10% of those 65 and older were considered to be living below the poverty line. And alarmingly, the amount of financial abuse suffered by seniors is estimated to top $3 billion annually. So taking steps to stay financially healthy is important.
The four tips offered by the ACA/ACL to help avoid financial abuse and exploitation include:
Home Instead offers free monthly newsletters with tips and advice for caregivers of elderly loved ones.
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