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10 Financial Issues Older Americans Face | Stop Eating Money

10 Financial Issues Older Americans Face

I know. The month is nearly over, and I have not posted one thing about one of my favorite groups of people! Please forgive me because I love taking time and learning from my elders. I sponsored “Adopt A Senior Week” at my church one year, and it was a huge success! The seniors were extremely appreciative that we took them to dinner, paid for their medication, ran errands for them, and more. Members of all ages felt privileged to help our seniors who have so much wisdom to offer; yet, they are forgotten sometimes.

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To make sure that seniors throughout the country are not completely forgotten, Older Americans Month is celebrated in May of each year. The observation has occurred for 50 years, and this year’s theme encourages seniors to embrace their age and remain active. They are also challenged to continue to do great things. Unfortunately, many seniors encounter numerous financial situations that prevent or limit their ability to make contributions to society. Here is a list of financial issues that many older Americans face:

  1. Debt-from credit cards, etc.
  2. Medical bills-due to falls, illness, or treatment
  3. Scams-Seniors are often at the greatest risk of con artists.
  4. Assisted living-meal preparation, etc.
  5. Wellness programs-therapy
  6. Alternate Transportation-due to loss of license or inability to ride in a car
  7. Planning for long-term care
  8. Legal services-living will, etc.
  9. Housing-mortgages
  10. Insurance-premiums must be paid to continue coverage
  11. What can you do to help an Older American who is facing financial issues? Please comment.

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