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Financial Tips for Older Adults

As the population of older adults continues to grow, the risk for the financial exploitation of this group is also on the rise. While anyone can be a victim of financial exploitation, older adults may be especially targeted because they have regular income and assets; may be lonely and isolated; and may be vulnerable due to the loss of a spouse. Abusers can be anyone – family members, financial advisors, caregivers, contractors or scammers. Here are tips to help older adults protect themselves in several scenarios.

Tips when using a caregiver or in-home helper

  • Secure valuables
  • Require receipts for purchases…

Tips to Stretch Your Income

Everyone wants to stretch their income and make their money last longer. This is why it is important to create a budget, have a spending plan and set up saving goals. Here are a few tips to help:

  • Take a snapshot – Look at your overall financial health by tracking your spending, looking at your saving habits and looking at the current status of your accounts.
  • Track your spending – Tracking all of your expenses for at least one month is a great way to see exactly how you spend your income. Be sure to record ALL of your expenses. You can…
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