Month: March 2019

Categories
Blog Personal

Senior Caregiving

helping hands

Your parents once cared for you, and as they age, it is likely that the roles will be reversed, and you will need to care for them. The prospect can be daunting, but you can prepare for your senior caregiving journey.

Have “THE” Meeting with Your Parents.

It’s difficult to talk about senior caregiving with your parents, but it is necessary so that you can know their wishes, and everyone can get onto the same page. Set up a meeting. Don’t  bring the subject up over dinner unexpectedly! Be prepared to ask your parents:

  • Where would they like to live if they could no longer live on their own?
  • How do they intend to pay for their care? Do they have insurance to help?
  • Can you look at their financial information? Do they have a will? Who has power of attorney?
  • How do they feel about their current living situation?
  • What are their main concerns for the future?
  • What are their end-of-life wishes?

It’s also important to assess the current needs of your parents.

  • Is their vision failing?
  • Have they fallen or is their balance compromised?
  • Have they lost a good deal of weight without trying?
  • Are they still driving, and should they be allowed to continue?

Be sensitive and understanding. Be prepared to offer choices and find compromises. Remember that this is a difficult conversation for everyone.

Learn about Senior Housing Options

Ideally, you have time to learn about senior housing long before a decision needs to be made about where your parent will live. There are lots of options available, but you need to know as much as you can before making a decision. For instance, assisted living is very different from a nursing home. There is in-home care as well as memory care.

Get the Support You Need

While some people can give up their job to care for an elderly parent full-time, most are not in the position to do so. This means that you will need lots of support.

Find a Volunteer Senior Companion in Your Area Through Senior Corps. Senior Corps is a network of national service programs for Americans 55 years and older. Senior Corps volunteers commit their time to address critical community needs including academic tutoring and mentoring, elderly care, disaster relief support, and more.

Adult Day Programs are an excellent opportunity for seniors to socialize and are generally less expensive than in-home care. Learn more about the Georgia Adult Day Services Association here. (http://www.gadsa.org/joomla/index.php)

Hire a Geriatric Care Manager (GCM). A GCM is an expert at finding and navigating services for the aging. Their goal is to improve your older adult’s quality of life and reduce family stress. Many people find that they save money by hiring a GCM.

Talking with your parents about end-of-life care is hard, but it’s infinitely more difficult to make decisions during stressful moments – especially if you don’t know what your parent’s wishes are. A little preparation now can mean less turmoil later.

Categories
Personal Saving & Budgeting

Save More in 2019!

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Everyone wants to save more money, but it can be difficult to know how. if you’re stuck in a money rut, the following tips will help you pinpoint ways to save money and prepare for your future. 

What Kind of Saver are You?

Do you enjoy saving money? Do you find it easy or difficult to set money aside? Some people find it easy to count and save their pennies, while others see that little extra and want to spend it now.

Before making a plan to save, a little self-reflection is in order. How active do you want to be in saving money? Is it better to ‘hide’ money that you’re saving so that it’s out of sight, out of mind? Or, do you want to keep an eye on every penny? Identify your spending and saving style, and plan accordingly.

Prepare for Emergencies

Figure out how much money you would need to live for months if you lost all sources of income. All of your initial saving efforts should go toward setting up an emergency fund. It is exceedingly satisfying to have an income safety net tucked away in the bank.

Create a Budget

How much do you make each month?  How much do you spend? Where can you find places to spend less? Make a budget and stick to it! Not a numbers person? The great news is, there are all sorts of online and mobile apps that are designed to help you manage and save your money easily.

Find a Budgeting App

According to online reviews, these are some of the best budgeting apps:

Learn About Saving Money

If you are interested in learning more about money, there are more outlets than ever to help you do so. Blogs and podcasts are a great place to start. Here are some suggestions to get you started:

Find Savings—Large and Small

There’s always a way to save! Do you eat out five times a week? Try to cut down to three times. Get rid of expensive cable and opt for Netflix or another less-costly provider instead. Invest in a good coffee pot and travel mug and skip Starbucks. Do you have the same cell phone plan you had five years ago? Chances are you could save money by switching plans. You can even take a more significant step and refinance your car and mortgage loans. Savings are everywhere!

Pay Yourself First

If you haven’t already done so, set up a Roth IRA or 403(b) and contribute money every month directly from your paycheck.

Reward Yourself

If you feel like you are constantly depriving yourself by saving, then you will soon give it up. Set up small, medium, and large goals for yourself, and when you meet them, reward yourself.  Just be careful that you don’t spend all the money you’ve saved on rewarding yourself!

Categories
Business Managing Your Business

Tips to Keep Your Tax Records Secure

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Tax fraud, identity theft, online scams – the threats can be overwhelming.

Here are some ways consumers and business owners can protect themselves from tax fraud and other scams.

Do Your Research 

When choosing a tax professional, check out Consumer Reports (https://www.consumerreports.org/taxes/where-to-get-tax-preparation-help/), the IRS (https://www.irs.gov/tax-professionals/choosing-a-tax-professional) and the Better Business Bureau (https://www.bbb.org/) to be sure that they provide a legitimate service.

Protect Personally Identifiable Information (PII)

PII is defined as information that can be used on its own or with other information to identify, contact, or locate a single person, or to identify an individual in context.

So, what does that mean? The following information should not be given out freely:

  • Full name (if uncommon)
  • Birthdate
  • Birthplace
  • Home address
  • Email address
  • Social Security number
  • Passport number
  • Vehicle registration plate number
  • Driver’s license number
  • Fingerprints or handwriting
  • Credit card numbers
  • Digital identity
  • Genetic information
  • Telephone number
  • Login names and passwords

Call Back

If someone calls you and asks for your social security number (or another piece of relevant information), get the name of the person requesting the number and tell them that you will call the business directly. If it isn’t a scam, then you haven’t lost anything. If it is a scam, you have saved yourself a lot of hassle, and potentially, money.

Validity of Websites

Yes, there are websites out there with the sole purpose of capturing your personal information. Be sure that you access the real IRS website when filing taxes or submitting any information. It’s best to type in the website name – irs.gov – rather than click on links given in emails, etc.

Be Wary of Demands and Threats

You mail or file your taxes electronically, and before you know it, you’re receiving demands for immediate payment, upsetting emails, and threatening or intimidating communication insisting you pay now. This is not how the IRS works. If you do owe the IRS money, you will receive businesslike communications, and they will even help you work out a payment plan. Get more information on potential scams here (BBB.org/TaxScams).

Safely Store and Dispose of Your Financial Information

If you keep your financial information in a shoebox or stuffed under your mattress, it’s time to make a change! A locked filing cabinet, drawer in your desk, or a safe are all good options. If you store your records electronically, then be sure that you have a backup on an external hard drive and encrypt the files on your computer and hard drive. You should always keep a copy of federal and state tax returns and supporting material. If you do dispose of old tax records, make sure you shred the documents before disposal.

But what about old computers with crucial financial information stored on them? You can’t shred those! Before disposing of any electronic device, all drives should be wiped clean. Simply deleting files will not remove them from the computer. It may require special software to wipe the drive, or you may even need to hire someone to do it for you.

It doesn’t take a lot of time or effort to keep your financial and tax records safe and to put your mind at ease.