Baby Boomers are aging, and people of all ages are increasingly caring for elderly parents with mobility issues. That has increased the demand for home elevators in multistory homes. A home elevator is a terrific help with mobility and moving cargo floor to floor, but diligent research and planning are a must. Here’s what you… Read more »
You probably intend to organize your financial and other personal documents “when you get around to it,” but the task can seem overwhelming. Once done, however, organizing your financial affairs will give you and your loved ones security and peace of mind. Here’s our guide to organizing your financial life. Important documents A good place… Read more »
As families change, multigenerational living situations become more and more common. Should you consider multigenerational living arrangements? Here’s what you need to know. What is multigenerational living? Multigenerational living occurs when two or more generations, who would normally live separately, live together. Most commonly, this occurs when adults with children have their aging parents move… Read more »
Most consumers know about identity theft and have adopted safe practices for dealing with their personal information. But did you know thieves can steal the title to your property? Property title theft could happen right under your nose, so stay alert with these tips. What is title theft? Title theft is relatively rare, but when… Read more »
Most individual retirement accounts (IRAs) invest in traditional securities: stocks, bonds and mutual funds. If you are looking to diversify your investments, however, you may be interested in a lesser-known retirement account known as a self-directed IRA. This account allows you to hold investments other IRAs don’t, such as real estate. Here’s how investing in… Read more »
The COVID-19 pandemic has provided cybercriminals a new way to scam people. Phishing e-mails that target those fearful of the coronavirus are appearing in consumer in-boxes worldwide, as are appeals from phony charities preying on people’s good intentions. Here’s what you need to know about coronavirus cyber scams. Types of coronavirus cyber scams Scammers send… Read more »
Most mortgage loans are made to people who are still earning income from a job. It can be tough for retired people living on retirement savings to get approved for a mortgage. An asset-based mortgage (ABM) could be a good way to finance homeownership later in life. Mortgage qualification challenges for retirees Mortgage companies that… Read more »
Nice homes make a neighborhood beautiful, but good people make a neighborhood great. You can do good in your neighborhood by paying attention to the needs of your elderly neighbors and the physically infirm. Here are some ideas for being neighborly to those who may need a little help from their friends. During weather extremes… Read more »
As baby boomers age, their adult children often face challenging questions about caring for their elders. Not everyone is suited for multi-generational living. Be honest as you ask yourself these questions. What are your parents’ health needs? Do they still have the ability to care for themselves? What health challenges run in your family? If… Read more »
Television ads targeted to seniors dramatize elders pushing a button on a medical alert device when they’re home alone and have a medical emergency. Are these devices effective? How should you choose between brands? When medical alert devices can help Medical alert devices are particularly helpful for seniors, but anyone of any age who lives… Read more »
Each day another 10,000 baby boomers enter retirement and face choices about where to spend their golden years. There’s a lot to think about when it comes to choosing where to retire. Let’s take a look at seven factors you should consider. 1. Taxes You worked hard your entire adult life and now look forward… Read more »
Nearly 20 percent of today’s American households are multigenerational. A multigenerational household is defined as two or more adult generations living in one home or grandparents living in the same household as grandchildren younger than 25. The lifestyle can be positive for all concerned, but multigenerational living presents certain issues. Before you add that in-law… Read more »
A growing national trend finds multiple generations of a family living together in one house. Far from a new fad, this way of living is a return to the way things were from America’s earliest days until the early 20th century. Let’s look at the trend, its benefits and how to make it work. Turning… Read more »
Once you graduated from college and got a place of your own, you probably assumed your spouse would be the last roommate you’d ever have. Recently, however, adults who would otherwise be on their own have begun sharing living spaces for a variety of reasons. Could home sharing work for you? Roommates for Mutual Benefit… Read more »
When the kids are grown and retirement is just ahead, it’s time to make some tough choices. Should you stay in the family home or move somewhere smaller and cheaper? Organize your thinking. Break the decision down into these broad categories: family accessibility, lifestyle and financial. Look at each separately. Family accessibility. Location is key…. Read more »
When senior adults decide to sell their homes, hiring a “Certified Senior Housing Professional” can be a huge help. What exactly is a “Certified Senior Housing Professional?” Essentially, it’s a real estate agent who has undergone special training and certification in selling the homes of senior adults. They have been trained to understand the legal… Read more »
As senior adults age and give up driving, the need for alternative transportation soars. Since you can’t always rely on friends and family members, here’s a list of resources. Always keep safety and affordability in mind. Public transportation. Seniors often receive discounted fares on public bus, subway and train systems. Cities may also have mini… Read more »
For aging adults contemplating a major move, hiring a “senior move manager” might be a wise decision. A rapidly growing segment of the service industry, senior move managers are trained to help aging adults move to smaller homes or senior-care facilities. They have expert knowledge about the decisions, processes and costs of helping seniors downsize… Read more »
Baby Boomers fretting over what will happen to all their belongings when they die have good reason to worry. Millennial offspring in large numbers are shunning their parents’ and grandparents’ precious furniture, household goods and collections. Instead of being insulted, experts suggest that Boomers be proactive. Don’t wait until poor health or a financial emergency… Read more »
It’s not uncommon for an elderly homeowner to pass along a house to heirs. Let’s examine ways to do so, understanding that laws in each state vary and federal tax code changes. Consult an attorney before making any decisions. The most basic way. The easiest way to pass a house to children is through the… Read more »
