A Breath of Fresh Air

As our loved one's age, it becomes increasingly important to monitor their well-being in various aspects of life, including their finances. Its not uncommon for seniors to struggle with financial management. For seniors experiencing cognitive decline or physical limitations, staying on top of finances can become a real challenge.Recognizing the signs that your senior loved one may need help with their finances is crucial for their financial stability and overall well-being. In this article, well explore some red flags that could indicate your loved one is having difficulty managing their finances and discuss some practical ways to offer support. Spot the SignsWhile everyones financial situation is unique, looking out for signs that your loved one is struggling can help you determine when intervention may be needed. Spotting unpaid bills, unopened mail, or overdue notices at your loved ones house may indicate that theyre having difficulty keeping track of their financial obligations.You may also notice unusual spending patterns or strange purchases that are out of character for your loved one. If your loved one is expressing concerns about budgeting or affording their basic needs, this could be another sign theyre having trouble managing their finances effectively.Consider Senior Living OptionsProblems with financial management may indicate memory problems or other age-related issues. For example, AgingCare recommends evaluating your loved ones health and functional abilities when you visit, looking for signs that they may need assisted living care.If you think your loved one needs care 24/7, start looking around online for nursing homes in your area. The earlier you start looking, the more time youll have to compare facility pricing, payment options, reviews, and amenities. For example, Frasier offers a variety of care options, from independent living to skilled nursing care, to meet the needs of seniors with varying care needs.Start a Conversation About MoneyWhen you notice signs that your loved one may be having financial trouble, its time to broach the subject. Conversations about money can be uncomfortable but do not delay, especially if your loved one is showing signs of cognitive decline. As early as possible, start asking questions to get a clearer picture of your loved ones finances. For example, ask where they keep their financial documents, how much debt they owe, who serves as their financial advisors, and what planning theyve done for the long term.Seek Guidance from a Financial Advisor If you dont feel comfortable offering financial advice to your loved one or are unsure how to best move forward with their financial situation, dont hesitate to speak to a professional. A certified financial advisor (CFA) will create a financial plan that aligns with your loved ones immediate and long-term financial goals. A financial advisor can also help your loved one avoid financial scams and exploitation.Consider looking for a financial advisor who specializes in senior finances, as these professionals will better understand planning for living on a fixed income, budgeting for long-term care, and investing in retirement accounts.Set Up Automated SystemsThanks to innovations in financial technology, managing money can be largely automated. Set up automated systems so your loved one has fewer financial matters to keep track of. For example, Clever Girl Finance explains that you can automate bill payments and contributions to savings and investment accounts. Start by signing your loved one up for automatic debits from creditors and service providers. For providers that dont offer this option, set up bill payments with your loved ones bank.Supporting a senior with money management requires a great deal of patience, compassion, and open communication. Remember that each situation is unique, and the level of support required by your loved one may vary from help paying monthly bills to long-term care in a skilled nursing facility. By keeping an eye out for potential financial struggles and acting promptly when you notice a need for support, you can ensure your loved one maintains a high quality of life.

Congratulations on your retirement! Now what? You may find yourself wanting to still work in some capacity. Think about starting a side gig to keep yourself engaged and active. There are numerous opportunities available for retirees who want to continue working part-time.What side gig is right for you?Not all side gigs are worth it. Its important you find something that fits into your existing schedule and also plays nicely to your strengths. Furthermore, you want something that generates enough money. Do you have any transferable skills that would apply to any other field? You can take career and personality tests to learn more about what you might be good at.Convenient side gig ideas for seniorsCaregiving can be a tiring, physically-taxing job. That means you want a side gig that is, preferably, less demanding. Perhaps something that uses mental energy might be more suitable. Entrepreneur offers a bunch of convenient options: Managing social media for small businesses, tutoring over Skype, becoming a personal chef, and starting a food business. Finding and applying to side gigsYou can find side gigs through all the ways youd find a normal job. Some examples are scouring job boards or sites, attending job fairs, and checking social media posts. Approaching businesses in your area for a job can work, as can networking with the people you know.Starting your own business is an alternative that may be worth exploring. It could give you a great deal of work and time flexibility. Some types of businesses dont require much in the way of initial investment either. If youre interested in a business, work on your business idea, do market research, and come up with a business plan.Starting an e-commerce businessAn e-commerce business is a wonderful example of a flexible business you can do in your spare time. You dont need to man the stations constantly, and you could do it from home. If you utilize an e-commerce platform, it will handle much of the grunt work for you. You can create intuitive, engaging, and personalized shopping experiences across all channels. Look for a platform that has features such as rich content tools, inventory management, powerful analytics, data insights, flexible customization capabilities, and secure payment processing. This is an option to help with searching out something suitable.Legal considerations when you start your own businessWhen you start your own business, you need to take care of some legal aspects:Essentials: Some things you may need to consider are acquiring a DBA name, registering with the town or city, acquiring permits or licenses, opening a bank account, and getting insured.Business entity: You may want to register your entity as an LLC or similar legal structure. Doing so can offer some benefits like easier paperwork and more flexibility.Taxes: You will need a unique Employer Identification Number (EIN). Also, you will need to keep tax records. You can work with an accountant or use software to make this easier.Contracts: You may need a slew of contracts. Some examples are founders agreements, employer-employee contracts, and contracts for your clients to sign.Focus on marketingIf theres one business function you need to prioritize, its marketing. Marketing is essential to making yourself known to potential customers and clients. Some marketing must-haves are a business website, business cards, and entries in business listings. Starting a marketing campaign can help you find more customers too. Hurree covers marketing strategies that are worth exploring such as email marketing, social media marketing, and co-branding.ConclusionGetting a side gig could be your ticket to more financial abundance and general life satisfaction. Finding something appropriate could take some time (as could building up your own business), so its a good idea to get started today. For the best results, believe in yourself and keep at it!Article by: Hazel Bridges, Aging Wellness

Safeguarding Lives in Every SeasonEvery year, on the first day of autumn, communities across the nation come together to observe Fall Prevention Awareness Day. This important day serves as a reminder of the significant impact falls can have on individuals and the collective effort needed to prevent them. As we step into the season of changing leaves and cooler temperatures, it's crucial to raise awareness about fall prevention and prioritize safety for ourselves and our loved ones.A Silent ThreatFalls are a leading cause of injuries among older adults, often resulting in fractures, hospitalizations, and a decline in overall quality of life. However, falls can affect people of all ages, so it's vital to address this issue comprehensively. The consequences of falls go far beyond physical injuries; they can also have emotional and financial repercussions for individuals and their families.Understanding the Impact of FallsPhysical Consequences: Falls can lead to a wide range of physical injuries, including fractures, sprains, and head trauma. These injuries can result in prolonged pain, limited mobility, and a significant loss of independence. For older adults, in particular, a fall can mark the beginning of a decline in health.Emotional Toll: The emotional toll of a fall should not be underestimated. The fear of falling again can lead to anxiety, depression, and social isolation. Many individuals who have experienced a fall become hesitant to engage in physical activities they once enjoyed, further compromising their physical and mental well-being.Financial Burden: The financial burden of falls is substantial. Medical bills, rehabilitation costs, and potential long-term care expenses can put a strain on individuals and families. In some cases, these financial challenges can jeopardize retirement savings and financial security.The STEADI Initiative:Screen - Assess - InterveneThe CDC STEADI (Stopping Elderly Accidents, Deaths, and Injuries) initiative is a comprehensive approach developed by the Centers for Disease Control and Prevention (CDC) to help healthcare providers and patients address fall prevention in older adults. Falls are a common and serious issue among older adults, and the STEADI initiative provides tools and resources to reduce the risk of falls and related injuries. Here are some key components of the STEADI program for adult fall prevention:Screening: Healthcare providers are encouraged to use standardized fall risk assessment tools, such as the "Steady Steps" tool, to identify patients that are at risk of falling. These screening tools help determine an individual's risk factors for falling. When screening, ask questions such as; Have you fallen in the past year? Do you feel unsteady when standing or walking? Are you worried about falling? A yes to any of these questions indicates that a patient has an increased risk in falling. Once the screening process is complete, healthcare providers can now begin to assess the situation. Assessment: For patients identified as being at risk, healthcare providers conduct a more comprehensive fall risk assessment. This assessment includes a review of medications, medical conditions, and mobility issues that may contribute to falls. Home hazards are some of the biggest issues with adult falls. Asking detailed questions can be very important in this case. Along with home hazards, here are some additional indicators of an increased fall risk: poor footwear, impaired vision and cognitive ability. Intervention: Based on the assessment results, healthcare providers can develop personalized fall prevention plans for their patients. These plans may include recommendations for exercise programs, medication adjustments, vision assessments, and home modifications.Raising Awareness: Fall Prevention StrategiesKnow the Risk Factors: Understanding the risk factors associated with falls is the first step in prevention. These factors include age, muscle weakness, balance issues, medications, chronic health conditions, vision problems, and environmental hazards.Regular Exercise: Engaging in regular physical activity can help improve strength, balance, and flexibility. Exercise programs like tai chi and yoga are particularly effective in preventing falls among older adults.Medication Management: It's essential to review medications with healthcare professionals regularly. Some medications can cause dizziness or drowsiness, increasing the risk of falls.Vision Care: Regular eye check-ups are crucial, as vision problems can contribute to falls. Correcting vision impairments and ensuring adequate lighting in the home can make a significant difference.Home Safety: Eliminating tripping hazards in the home, such as loose rugs and clutter, is essential. Installing handrails, grab bars, and adequate lighting can enhance safety.Footwear: Wearing proper footwear with non-slip soles and good support is essential for stability.Regular Health Check-ups: Routine health check-ups can help identify and address underlying health issues that may increase the risk of falls.Promoting Fall Prevention Awareness Year-RoundWhile Fall Prevention Awareness Day is an important annual event, it's crucial to emphasize fall prevention year-round. Education and awareness campaigns should continue to remind people of the risks and strategies for prevention.Additionally, healthcare providers, community organizations, and families can work together to support individuals at risk of falls. This might involve home assessments, personalized exercise programs, and ongoing monitoring of medication use.As we embrace the arrival of autumn, let's also embrace the idea of falling for safety. Falls are a significant threat to individuals' well-being and the healthcare system as a whole. By raising awareness, identifying risks, and taking proactive measures, we can protect ourselves and our loved ones from the physical, emotional, and financial consequences of falls. Fall prevention should be a priority not just on Fall Prevention Awareness Day but throughout the year. Together, we can make a difference in safeguarding lives and promoting safety in every season.Please remember to be SAFE!S - Screen for factors that may increase fall risk. A - Assess the patient to best issues that can contribute to falls.F - Formulate the patients fall prevention plan.E - Educate the patient and caregiver about medical conditions and mobility issues that lead to high risk falls.