Achieving Better Finances: What Every Senior & Elderly American Should Think About

By Luke Redd 

"Financial matters affect the lives of all Americans. But, as a senior, finances may play an especially large role in your well-being. After all, at this stage of life, priorities often change. And new realities may influence your spending and saving habits. That's why it's a good idea to take a step back and make sure you're on a financial path that truly serves your interests. By managing your money well, you'll have an easier time achieving the lifestyle—and other goals—you want.And isn't that the whole point? The more you know about your financial affairs and the options available to you, the brighter your senior years are likely to be. You get to make your money work for you. That's true whether you're currently retired, planning to retire, or working by choice or out of necessity.But, of course, it's important to remember that sustaining healthy finances as a senior or elderly individual often requires taking some special factors into consideration. For example, your goals for the immediate and more distant future are probably very different from what they were a few decades ago. You also may have close relatives who want to help you, who need financial assistance of their own, or who may inherit your assets. Plus, you can't ignore your health care needs or the fact that protecting your money becomes increasingly important as you age.It may seem like a lot to think about. But you can do this. Here are some things to consider:" Excerpt from article

Retirement Calculator

By Nerd Wallet

"Our calculator predicts your retirement nest egg in today’s dollars, then shows how it would stretch over the years you plan to spend in retirement, taking inflation into account. Our default assumptions include:A 3% inflation rate.Salary increases of 2% per year.A 6% rate of return before retirement.A 5% rate of return in retirement (assuming a more conservative portfolio).Make adjustments in the basic settings to reflect your current situation. Under optional settings, you can adjust your expected investment rate of return before retirement and add what you expect to receive from Social Security each month (get an estimate here). You can also fine-tune your retirement spending level and adjust other assumptions."

Excerpt from article

How to Help Your Financially Struggling Parents

By

BY MIRIAM CALDWELL

"Watching your parents age can be a scary prospect, especially as they approach the point when they need more help from you. If your parent has no money or money troubles, they may come to you for financial help. It can be difficult to help your parents financially if you are struggling with student loans, credit card debt, or providing for your own family. However, it is possible to assist your parents without going broke if you make a plan that factors in what they need and your capacity to help." Excerpt from article

Retirement Benefits Social Security is part of the retirement plan for almost every American worker. It provides replacement income for qualified retirees and their families. This section of our website helps you better understand the program, the application process, and the online tools and resources available to you.

The mission of the Aging & Disability Resource Center of the Lakeshore is to be a single source of information, assistance, and access to community resources for the aging population, people with disabilities, their families, and caregivers in the Kewaunee and Manitowoc County communities. 

To provide older adults and people with physical or developmental/intellectual disabilities the resources needed to live with dignity and security, and achieve maximum independence and quality of life.  The goal of the Aging and Disability Resource Center is to empower individuals to make informed choices and to streamline access to the right and appropriate services and supports.