The Way Up When I Feel Down

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

In a world increasingly defined by digital interaction, the image of older adults eagerly embracing technology might seem like a recent development. Yet, as we delve deeper into this digital age, it becomes increasingly apparent that seniors are not only adapting to technology but are finding profound ways to leverage it for their social and emotional well-being. Email, text messaging, video conferencing, social mediathese are not just tools of the younger generation. They are lifelines that connect older adults to the people and communities they cherish. While the idea of navigating these digital channels may seem daunting to some seniors, the rewards of staying connected through technology far outweigh the initial fears. One of the most accessible and widely used forms of digital communication for seniors is email. With its simplicity and ubiquity, email has become a staple for staying in touch with loved ones near and far. According to a study by the Pew Research Center, 86% of seniors aged 65 and older use email regularly, with many citing it as their preferred method of communication for keeping in touch with family and friends. These statistics are not just impressive; they are a testament to the adaptability and eagerness of seniors to embrace the digital age. And with projections indicating that the number of older adults using email is set to increase by 15% over the next decade, the trend towards digital communication among seniors shows no signs of slowing down. Text messaging, with its brevity and immediacy, has also emerged as a favored mode of communication among seniors. While some may initially balk at the idea of typing on a small screen, the convenience and intimacy of text messaging quickly win them over. According to the same Pew study, 67% of seniors now use text messaging on a regular basis, with usage steadily increasing over the past decade. These figures are not just remarkable; they represent a seismic shift in how seniors are embracing technology to stay connected with their loved ones. And with projections indicating that text messaging among older adults is expected to grow by 20% over the next 10 years, it's clear that seniors are not just catching up with technologythey're leading the way. Video conferencing takes digital communication to a whole new level, offering seniors the opportunity to see and hear their loved ones in real-time. Whether it's a weekly family gathering or a virtual birthday celebration, video calls bring people together in ways that were once unimaginable. A report by AARP found that 42% of adults aged 50 and older use video calling platforms like Zoom or FaceTime to stay connected with family and friends, with usage spiking during the COVID-19 pandemic. These statistics are not just impressive; they are a testament to the transformative power of technology in bridging the gap between generations. And with projections indicating that the number of older adults using video conferencing is set to double over the next 20 years, it's clear that virtual communication is here to stay. And then there's social media, the virtual town square where people of all ages come together to share stories, memories, and moments. While some seniors may initially approach social media with skepticism, many quickly discover its potential to reconnect with old friends, discover new interests, and stay informed about the lives of their loved ones. According to the Pew Research Center, 73% of adults aged 65 and older use social media regularly, with Facebook being the most popular platform among this demographic. These figures are not just notable; they represent a paradigm shift in how seniors are engaging with technology to stay connected with the world around them. And with projections indicating that social media usage among older adults is expected to increase by 25% over the next decade, it's clear that seniors are embracing digital communication with open arms. Of course, it's natural for seniors to have concerns about using technology, especially when it comes to online safety and privacy. Just as in the physical world, there are risks and precautions to consider in the digital realm. Seniors must be vigilant about protecting their personal information, avoiding scams, and navigating the ever-changing landscape of online security. But with proper guidance and support, these concerns can be addressed, allowing seniors to reap the benefits of technology without undue worry. Educational resources, community programs, tech-savvy family members, and companies that specifically help older adults and seniors understand and use technology can all play a role in empowering seniors to navigate the digital world with confidence and competence. Ultimately, the benefits of staying connected through technology far outweigh the risks. For seniors, the ability to maintain meaningful relationships, stay informed, and engage with the world around them is worth the effort of learning new skills and adapting to new technologies. Whether it's sending an email, sharing a text message, or joining a video call, every digital interaction is an opportunity to strengthen bonds, foster connection, and enrich the lives of seniors and their loved ones. In an age where technology often dominates the conversation, it's heartening to see older adults not only embracing digital communication but thriving in it. With each virtual hug and digital dialogue, seniors are rewriting the narrative of aging, proving that connection knows no age limits and that the bonds of love and friendship are as strong as ever in the digital age. And with the continued growth and adoption of technology among older adults, the future of senior connectivity has never looked brighter.