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Steve
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“Before you set out on a plan to school your grandkids about money, talk with their parents.” One of the best financial gifts you can give your grandchildren is the knowledge of how to manage their money. The habits they learn at a young age and the attitudes they have... Continue reading
Posted Feb 22, 2019 at Elder Law Firm of Steve Bailey
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“With savvy financial strategies, you can take control of your finances and be the boss of your money, instead of feeling at its mercy.” Whether you are already retired or considering it, you need to know if you will have enough money to pay your current bills and have a... Continue reading
Posted Feb 21, 2019 at Elder Law Firm of Steve Bailey
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“The number of people who attribute their leaving the workforce to being forced or partially forced into retirement has skyrocketed.” When people in their fifties and older leave their jobs, most do so involuntarily. If your financial situation means you need to maintain your full-time job until you are ready... Continue reading
Posted Feb 20, 2019 at Elder Law Firm of Steve Bailey
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“Thieves are using a high-tech trick to make someone else’s name or number fraudulently show up on your Caller ID.” Just when you thought you knew how to keep con artists from ripping you off, here comes a new scam. This one is particularly devious. It involves Social Security and... Continue reading
Posted Feb 19, 2019 at Elder Law Firm of Steve Bailey
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“The children get a loan that might have cost them thousands of dollars of fees with a traditional lender, and the parents get an income stream that gives a better return than a savings account would.” Many seniors are lending money to their adult children. The kids get a loan... Continue reading
Posted Feb 18, 2019 at Elder Law Firm of Steve Bailey
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“Discuss previous falls and close calls with your doctor to look for a pattern. Work together to develop a strategy for preventing falls.” There are many reasons to do your best to prevent falling accidents, as you age. After a fall, you can lose your mobility and independence. Here are... Continue reading
Posted Dec 13, 2018 at Elder Law Firm of Steve Bailey
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“One of the best ways to make ends meet with a fixed income is to spend less money.” Very few Americans have enough money saved for a comfortable retirement. Whether you lost money during the recession, had a financial crisis like massive medical bills, went through divorce, or just never... Continue reading
Posted Dec 12, 2018 at Elder Law Firm of Steve Bailey
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“Let’s make a plan to feel better in 2019.” After the holidays, you might be looking for ways to focus on your health and well-being. It is fine to enjoy the holidays, but if we continue to indulge ourselves throughout the year, we can be setting ourselves up for fatigue,... Continue reading
Posted Dec 11, 2018 at Elder Law Firm of Steve Bailey
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“Well-planned modifications can make it possible for you to stay in your house, instead of a nursing home.” You can save a fortune by aging in place in your own home, rather than moving into an assisted living facility, but you must evaluate whether your house is appropriate as you... Continue reading
Posted Dec 10, 2018 at Elder Law Firm of Steve Bailey
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“Talking with your lawyer about these three topics can provide financial security and peace of mind.” You want to make sure your legal matters are in order, but you might not know where to start. To help you start this essential conversation, here are 3 questions seniors should ask their... Continue reading
Posted Dec 10, 2018 at Elder Law Firm of Steve Bailey
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“Evaluating when to start drawing Social Security, can affect your taxes and how big your retirement check will be for the rest of your life.” The question of when you should collect your Social Security retirement benefits, differs from the age at which you should stop working. You can quit... Continue reading
Posted Nov 23, 2018 at Elder Law Firm of Steve Bailey
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“Medicare programs are not “one size fits all,” so how can you figure out which coverage is optimal for you?” Trying to unravel the multiple pieces and many options of Medicare could try the patience of Job. Medicare has multiple components. Some coverage plans contain pieces of several parts of... Continue reading
Posted Nov 22, 2018 at Elder Law Firm of Steve Bailey
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“ Since your income in retirement is likely less than it was while you were still working, you are less likely to have the cash flow to eliminate your debt now.” While, in an ideal world, no one would have debt in retirement, for most people that picture is not... Continue reading
Posted Nov 21, 2018 at Elder Law Firm of Steve Bailey
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“Do not fall for the myth that you must have a million dollars or more in the bank to retire. It is still important, however, to follow a budget.” It is usually easy to live on far less money in retirement, than it was when you were working. You do... Continue reading
Posted Nov 20, 2018 at Elder Law Firm of Steve Bailey
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“There are steps you can take to keep your family from acting like an episode of the Jerry Springer show, after you are gone.” Sadly, many families that got along well for decades, find themselves ripped apart by squabbles, when a relative dies. Money disputes can cause bitter emotions for... Continue reading
Posted Nov 19, 2018 at Elder Law Firm of Steve Bailey
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How to Handle Holiday Donation Requests, When You're Retired “Of course, many charities have worthy causes, but it could decimate your retirement cash flow, if you said “yes” every time one of them asks for your money.” When living on a fixed income, there is probably less disposable money available... Continue reading
Posted Nov 16, 2018 at Elder Law Firm of Steve Bailey
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“Few things can spoil your Thanksgiving, Hanukkah, or Christmas like having a car accident, breaking a bone in a fall, or being a victim of crime.” Staying safe from harm is essential to having a merry holiday season. Few things can spoil your Thanksgiving, Hanukkah, or Christmas, like having a... Continue reading
Posted Nov 15, 2018 at Elder Law Firm of Steve Bailey
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“These tips can protect your older loved one from holiday scammers.” Tis the season to rip off Grandma. Con artists kick into high gear during the holidays, often targeting vulnerable elders. Talk with your older relatives to warn them about these rip-offs and give them strategies for what to do.... Continue reading
Posted Nov 14, 2018 at Elder Law Firm of Steve Bailey
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“It can be hard to remember where all the money went, when you face the credit card bills in January’s cold light.” While you were still working, you could shrug off holiday splurges because you knew you could work overtime or side gigs after the new year to pay off... Continue reading
Posted Nov 13, 2018 at Elder Law Firm of Steve Bailey
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“Following these tips can help you to enjoy the holidays on your terms and with less stress.” You treasure the time you get to spend with your extended family during the holidays. However, you wish it did not leave you feeling exhausted and longing for January. You can have the... Continue reading
Posted Nov 12, 2018 at Elder Law Firm of Steve Bailey
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“Medicaid is the safety net that can provide needed medical care for seniors, who cannot afford health insurance and do not qualify for Medicare.” If you have an older relative or friend without health insurance, you might wonder if Medicaid could meet her need for coverage. Going without health insurance... Continue reading
Posted Sep 26, 2018 at Elder Law Firm of Steve Bailey
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“These schemes only work, because the con artists trick people. The best way to avoid being a victim, is to be aware and prepared.” Every time you turn around, con artists have devised a new way to trick people out of their hard-earned money. These scammers love to target seniors,... Continue reading
Posted Sep 24, 2018 at Elder Law Firm of Steve Bailey
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“ People in Japan are combining care sensors and robots to keep a nurturing, watchful eye on their older loved ones.“ Experts in Japan are using robots to care for older adults, so it is only a matter of time before these electronic companions hit the American shores. The Japanese... Continue reading
Posted Sep 14, 2018 at Elder Law Firm of Steve Bailey
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“Managing a senior’s drugs can get complicated, since some must be taken in the morning or at bedtime, on an empty stomach or after eating. Others cannot be taken in combination with other things, like grapefruit juice or other drugs.” If your older relative lives independently, you might worry about... Continue reading
Posted Sep 13, 2018 at Elder Law Firm of Steve Bailey
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“Although it might feel as if you are prying, you need to know a great deal of information about the person to whom you will entrust the safety and well-being of your aging loved one.” When interviewing candidates to serve as a caregiver for your loved one, it's hard to... Continue reading
Posted Sep 12, 2018 at Elder Law Firm of Steve Bailey