Elder Fraud and Scams: A Growing Problem and How to Protect Yourself

The aging process often begins subtly, with gradual changes that seem manageable. One day, your parent is fully independent, taking care of daily tasks without issue. Then, suddenly, it feels as though the aging process accelerates, bringing new challenges all at once. This rapid shift can be difficult for family members, especially if they haven't planned ahead.Why Aging Can Seem to Happen SuddenlyWhile aging typically unfolds slowly, research suggests it doesnt always progress in a straight line. A study published in Nature Aging found that aging tends to occur in bursts, where rapid changes in areas like metabolism, immune health, and muscle strength happen. These bursts often occur around the age of 60, potentially leading to abrupt physical declines (SciTech Daily)(AARP).If you or your loved one wait too long to prepare, you may find yourselves scrambling to deal with the sudden onset of new health challenges. This lack of preparation often leaves caregivers feeling overwhelmed, under-equipped, and burned out.The Pitfalls of Delaying PreparationMany families delay planning for their parents aging, assuming they'll manage when the time comes. Others might avoid the topic altogether because it can be emotionally challenging to discuss. Unfortunately, this wait-and-see approach often leads to caregiver burnout and strained relationships, as families are forced to juggle urgent medical needs, emotional stress, and time-consuming responsibilities without a solid plan in place.If youre struggling to discuss getting help with your aging parent, check out some of our tips here. Remember, asking for assistance during the aging process doesnt mean youre powerless!How Naborforce Can Help You Plan AheadRather than waiting for a health crisis, Naborforce provides consistent support for families throughout the aging journey. As seniors age, they often need help with simple taskslike grocery shopping or getting to appointmentsthat can quickly become time-consuming for loved ones. With Naborforce, you can arrange for a friendly Nabor to assist, allowing your parent to stay independent longer while giving you peace of mind.By building a relationship with Naborforce early, your parent will already be accustomed to receiving help. When aging accelerates, youll have a reliable support system in placesomeone familiar with your parent who can step in to help with everyday tasks. This helps ease your parents transition while giving you the time and space to focus on your own responsibilities.The Importance of Having a PlanThe key to supporting your parent as they age is to start planning before their needs become urgent. With Naborforce, you can establish a flexible plan that evolves as your parents needs change. Whether its an occasional visit or regular check-ins, Naborforce can tailor its services to fit your schedule and your parents preferences. By starting early, you ensure that you and your parent have the right support in place before bigger challenges arise.Naborforce is just one of many resources available to help with the aging process. Other tools include financial planning, setting up a trust and estate plan, maintaining a healthy lifestyle, using technology designed for senior living, and understanding the care continuum.Getting Started with NaborforceIts easy to get started with Naborforce. You can customize the level of support you need, from occasional assistance to more regular visits. Take the proactive step of setting up care before it becomes urgent, so your parent can stay comfortable, independent, and supported as they age.A Helping Hand for Older Adults - Naborforce 844-696-2267 Were Naborforce. We match older adults who need a little help and kindness with Nabors eager to provide it, strengthening the communities we serve.Everyone can use a little help. Help around the house. Help running errands. Help preparing a meal. Help by just being a friend! Our goal is to promote joyous and independent aging and living while providing peace of mind to families.

As more American families face the reality of aging, in-home care is becoming a preferred option. A recent AARP survey shows that over half of Americans aged 50 and above plan to remain in their homes as they age, and for good reasons. Staying at home offers comfort, familiarity, and with proper planning, can also be more cost-effective while promoting longer independence for elderly parents.With the continuous rise in healthcare and long-term care costs, having early and honest financial discussions is key.If your loved one is thinking about aging at home, weve created this guide with useful tips to help support senior independence while easing the financial burden.Here are steps to ensure your parents or loved ones age safely and comfortably at home.1. Start Financial Discussions EarlyWhile it can be uncomfortable to talk about finances with aging parents, its a vital conversation to have. Begin by reviewing their current financial situation, including assets, debts, and regular expenses. Also, look into possible income sources such as:PensionsSocial SecurityRetirement savings (401k, investments)Being open helps you understand your parents financial landscape while making them feel supported. Approach this conversation with compassion, emphasizing how you aim to maintain their quality of life while preparing for the future.(Need tips on convincing an aging parent to accept help? Check out our blog on how to navigate these conversations.)2. Understand the Costs of Aging at HomeAccording to the National Council for Aging, the average monthly cost of a senior care facility ranges between $4,500 and $5,300, a significant financial strain for many families. Aging at home can be more affordable, but it's essential to account for associated expenses.One of the hidden costs of aging in place is home maintenance and modifications, which can account for up to 52% of out-of-pocket expenses, according to a 2021 AARP study. Personal care services and medical staff, if needed, can also add to these expenses. For a detailed breakdown of long-term care costs, including potential surprises for families dealing with conditions like dementia, check out this Wall Street Journal article.3. Explore Long-Term Care InsuranceWith rising care costs, long-term care insurance can help cover expenses for in-home care, nursing, or assisted living. The earlier you invest in a policy, the more affordable the premiums.However, long-term care insurance may not be suitable for everyone. It can be pricey and may not cover all types of care. For more information, AARPs guide on hybrid policies, which combine life insurance and long-term care benefits, is a good resource.4. Plan for Home Modifications and SafetyTo keep your parents safe at home, certain home modifications, such as installing grab bars, ramps, or stairlifts, might be necessary. These changes can range from a few hundred to several thousand dollars depending on your loved ones health needs.(Looking for affordable ways to enhance home safety? See Naborforces top 10 safety tips for under $10.)In addition to modifications, budgeting for adaptive equipment or medical technology like alert systems is crucial. These devices help ensure that your parents can access help quickly, contributing to their independence and peace of mind.5. Managing In-Home CareIf in-home care is required, costs will vary depending on the level of assistance needed. While part-time help from a home health aide may suffice initially, your parent may eventually need full-time or 24-hour care, which can cost over $100,000 per year.Before reaching that point, services like Naborforce can offer interim support, providing help with small tasks like running errands or getting to appointments. This can extend your parents independence and delay the need for full-time care.6. Know About Medicare, Medicaid, and Other ResourcesIts essential to know what benefits your parents may qualify for. While Medicare does not cover long-term care, it can provide short-term in-home care under certain conditions, such as after a hospital stay. Medicaid, on the other hand, covers long-term care but is means-tested, so eligibility will depend on a careful review of their financial standing.You should also explore local and national programs, including veterans benefits or state assistance programs, which can help offset the cost of aging in place. In some cases, if you become a caregiver for your loved one, you may be eligible for caregiver payments, depending on your states regulations.ConclusionHelping your parents age at home requires thoughtful financial planning, including income assessments, long-term care options, and preparing for unexpected medical needs. Starting early and maintaining open communication can make the process smoother, providing your loved ones with the comfort and security of aging in their own home. And remember, whenever you need an extra hand, Naborforce is here to help!A Helping Hand for Older Adults - Naborforce 844-696-2267 Were Naborforce. We match older adults who need a little help and kindness with Nabors eager to provide it, strengthening the communities we serve.Everyone can use a little help. Help around the house. Help running errands. Help preparing a meal. Help by just being a friend! Our goal is to promote joyous and independent aging and living while providing peace of mind to families.What is Naborforce?Naborforce is a service designed to help seniors maintain their independence by connecting them with "Nabors"trusted community members who assist with everyday tasks such as grocery shopping, transportation to appointments, light household chores, or simply providing companionship. By offering flexible, non-medical support, Naborforce helps seniors age in place while giving families peace of mind. It's a great option for those who want to delay the need for full-time in-home care, ensuring that older adults can continue living comfortably and safely at home with just the right amount of help!Check out our page at www.naborforce.com

For women, eldercare should not mean sacrificing your careerMany women, especially those in mid-career, find themselves facing the difficult decision of whether to leave the workforce to care for aging parents. The demands of eldercare can pile up with little warning or predictability and quickly become overwhelming. The "easiest" solution for many women in this position may seem like stepping away from their professional lives altogether.However, leaving the workforce can have long-term, unseen consequencesfinancially, emotionally, and professionally. Before women make this decision, we want to bring to light to some of the costs of stepping away, as well as share options that are available to help women care for aging parents or loved ones without sacrificing their career.The elephant in the room - what about men?It's a systemic problem that the large majority of caregiving responsibilities fall on women. We believe fully this should not be the case - and will continue to advocate for a future where men and women are expected to share, and do share, these responsibilities more equally. That said, this article is going to focus on the impact of eldercare on women, and options available, because the data shows the women are the ones who are much more likely to pay the price of eldercare.Female caregivers are more likely than males to ask for a less demanding job, take unpaid leave, or give up work entirely to support caregivingWomen lose an estimated $325K over their lifetime due to caregivingThe Unseen Costs of Leaving the WorkforceWomen who exit the workforce early face immediate income loss, diminished retirement savings, and a reduction in Social Security benefits. AARP reports that caregivers can expect to spend an average of $7K annually on out-of-pocket expenses.Additionally, exiting the workforce comes with professional setbacks that may be hard to recover from. Studies show that women who take time off for caregiving often find it difficult to re-enter their fields, and when they do, they may face lower wages, fewer opportunities for advancement, or the need to start in less demanding roles.The Unseen Costs of "Daughterhood"A less recognized aspect of womens caregiving burden is eldercare (i.e. daughterhood), which is frequently overshadowed by the attention given to childcare (i.e. motherhood). While businesses have made strides in supporting working mothers, they have largely ignored the unique challenges posed by eldercare. The emotional and physical toll of eldercare, which often includes managing chronic illnesses, dementia, and end-of-life care, cannot be underestimated.According to the Federal Reserve, four times as many people have left the workforce due to adult caregiving compared to childcare, yet corporate policies and benefits packages rarely address these realities.Why You Shouldn't Quit: There Are OptionsBalancing work, children, aging parents, mental and physical health, a "clean" home, and the semblance of a social life - it's simply not sustainable. It would make Superwoman run for the exit. It's no wonder that women leave their jobs in order to quickly take something off their plate. But before putting in your notice, let's talk about resources and options that may be available.Workplace Benefits: Find out what your company offers. Some offer paid caregiver leave, flexible work schedules, Employee Assistance Programs (EAPs) that provide counseling and eldercare resources.Even if your employer is moving away from remote work post-pandemic, you can advocate for more flexibility, such as flexible hours or a partial work-from-home arrangement.According to experts, a flexible workplace arrangement is often the most important factor for caregivers trying to juggle their professional and personal lives.External Support Systems: there are local and national organizations that can provide assistance. Naborforce is one of these organizations - our founder Paige Wilson lived all of the stark truths discussed in this article, and that is why she decided to do something about it! And if Naborforce isn't in your area or isn't an option for you - there are other resources to check out: care.com, Bright Horizons, home care agencies, caregiving forums, etc.Note: Naborforce partners with employers to provide discounted hourly rates. If your employer doesn't have Naborforce as an option, reach out to us and we will see if there is an opportunity to collaborate!Talk to your people: Many organizations are beginning to create employee resource groups for caregivers, offering a safe space to share experiences and tips for managing eldercare. These groups can be a lifeline for employees who feel isolated in their caregiving roles.Making Eldercare an Employee BenefitEmployers play a crucial role in supporting women who are caregivers. Unfortunately, 79% of caregivers do not have access to benefits that support them in this role.Supporting working women is not just about helping parents; its about addressing the needs of adult daughters (and sons) who are balancing caregiving with their professional lives. As 10,000 people turn 65 every day in the U.S., this challenge is only going to grow. Employers must adapt to this reality if they want to retain top female talent.The Bottom Line: You Have OptionsWhile caregiving can feel like an all-consuming role, women should not have to choose between their careers and their families. By tapping into workplace benefits, seeking flexible arrangements, and exploring external resources, women can navigate the challenges of eldercare without sacrificing their professional futures.A Helping Hand for Older Adults - Naborforce 844-696-2267 Were Naborforce. We match older adults who need a little help and kindness with Nabors eager to provide it, strengthening the communities we serve.Everyone can use a little help. Help around the house. Help running errands. Help preparing a meal. Help by just being a friend! Our goal is to promote joyous and independent aging and living while providing peace of mind to families.