Financial Health

Posted by in Personal Finance.

For adult children, “the financial conversation” is one of the most difficult aspects of changing the living situation of their parents. Discussions about money can be fraught with anticipated conflict, and although the conversation itself may seem intrusive to both parents and children, it is a necessary one. Understanding what funds and financial options are available is vital to the senior living decision-making process. Having this information at the outset may save a great deal of time and frustration, not only for seniors but for their families as well. Any move can be emotionally difficult, so eliminating as much stress as possible is a great idea for all involved!

At Senior Lifestyle, we care about not only the physical and emotional well-being of our residents, but their financial health as well. That’s why we recommend the services of companies like Elderlife Financial. A leading senior solutions company, Elderlife helps families plan, locate, and finance senior housing needs, and provides a variety of services to facilitate the moving process, including:

  • Financing Senior Living
    A bridge loan can help fund senior living while waiting for insurance payments or Veteran’s Benefits to begin, or while waiting for the sale of a home. This service allows families the peace of mind of an immediate move.
  • Veteran Benefits Assistance
    Many veterans are unfamiliar with the benefits available to them. Elderlife can assist in the process of gathering the necessary information to apply for the “Aid & Attendance” pension benefit, as well as providing short term funding while waiting for approval.
  • Assistance with Insurance
    If a long-term care policy is in place to pay for care, Elderlife can help navigate the often-complex process of making a claim and qualifying for benefits. Additionally, life insurance policies are a potential source of funding for senior living. They can be sold or borrowed against to pay for care.

You don’t have to navigate the senior living journey alone; we care about your financial health, and our community advisors are here to help. For information on a Senior Lifestyle community near you, take a look at our website to schedule a visit and meet with an advisor. Financial resources are available on the Senior Lifestyle website as well, so help is just a click away!

New Ideas for Supporting Caregivers

Posted by in Personal Finance.

caregiver financial assistance

People who commit their time, energy, love, and resources to care for a friend or relative are also sacrificing their own future retirement income. One congresswoman has proposed an amendment to the Social Security Act in an attempt to compensate our caregivers when they need it most.

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