Resource Library
Content with Topic Financial Health and Wellness .
Resources
Tax Tips for Older Adults for the 2019 Tax Season: Understanding Qualified Medical Expenses
While most people agree that it’s hard to look forward to the paperwork and headache of tax season, for older adults managing medical bills, taking advantage of tax deductibles can be financially beneficial. According to a National Bureau of Economic Research study, Medicare, Medicaid, private insurance and other government programs on average will cover about 80 percent of an older adult’s healthcare costs; however, this leaves 20 percent of costs financed out-of-pocket, and for older adults who are from low income households, retired or on a budget, this can take a huge bite out of their savings.
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What We Can Do about Robocalls
The term robocall has been around since the 1990s, but in the last few years, they’ve become an ever-present part of our lives. According to the YouMail Robocall Index, in 2018, 47.8 billion robocalls were placed in the US, and just in the first half of 2019, 34 billion calls were made. You’re not imagining that it’s gotten worse – it has.
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Decision-Making With Your Older Loved One: Choosing a Power of Attorney Agent
Establishing a Durable Power of Attorney for Health Care or Finances can give loved ones the ability to control who makes important health care or financial decisions for them if their physician declares they are no longer able to make these decisions for themselves. Having a Power of Attorney is important because it assures loved ones have someone who can act on their behalf and, ideally, respect their wishes.
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Internet Safeguards to Avoid Online Scams as an Older Adult
Over the years, the internet has grown and expanded to the point where it influences much of our daily lives. As the prevalence and everyday uses of the internet have expanded, so too has the presence of scammers and hackers who take advantage of the internet to steal personal information, deceive innocent people and spread harmful viruses. The internet is a valuable resource, and we shouldn’t let the fear of being scammed stop us from utilizing it. However, we should be cautious about where and to whom we give our information, and educate ourselves about internet scams so we don’t fall prey to people intending to mislead us.
Read MoreCan You Actually Buy Happiness? Reflections on Emotional Spending
Have you ever felt down and out – and then headed to the mall? Have you ever felt overwhelmed, angry, or isolated – and then cheered up with a purchase on eBay? Do you use shopping as a way to celebrate an accomplishment or recover from a disappointment? Have you ever subscribed to the idea that shopping is a stress-relieving therapy and even cheaper than a visit with a psychiatrist? If so, did shopping in those moments actually make you feel better in the long run?
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