Recent surveys and research has revealed that more than 2 million people who are already over the age of 50 will live to see their 100th birthday. With so many advances in health care, seniors are living much longer than ever before. The only problem may be that there have been no changes in regards to financial planning in pension systems. Living longer is great news to seniors, but could be devastating news to many companies who are paying pensions.

5.            With extended life expectancies, many seniors are working well past the age of retirement in hopes of being able to save up money to enjoy later in life, especially if they reach the age of 100.

6.            While some seniors have the desire to work, it can be difficult. Not many companies will hire older adults. Some companies will not allow employees to work past the age of 65. This has raised some serious discrimination issues.

7.            For people who are in their 50s, it may be very difficult to save enough money by the time they reach the age of retirement to ensure income that will last until they are 100 years old.

8.            Reaching 100 should be a cause for celebration, and for many people it will be. However, there will still be many financial concerns for the future.

Source: Easier.com

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.

Bigger Checks for Bakersfield Seniors from Social Security

Most seniors rely on their monthly checks to live on. They are on tight budgets and will wait for these checks to come in order to pay bills and go shopping. While many seniors are enjoying their retirement, most would be very happy to see more money in that monthly check. Before you retire, make sure you wait until you have reached the normal age. If possible, work a few years more to maximize your benefits.

1.    The important key to maximizing social Security benefits is to wait until the normal retirement age. By retiring early, you will lose a percentage of the amount you would have gotten if you had waited a few more years.

2.    When seniors have reached the normal retirement age, they will not be subject to an earning cap. This means the senior will be able to continue to work without worrying about jeopardizing their current monthly income.

3.    Seniors who retire at the age of 62 will lose 25% of their potential Social Security income.

4.    Other forms of income, including pensions and dividends will not reduce the amount that is paid by Social Security.

5.    If possible, wait as long as you can before collecting benefits. For every year after the normal retirement age, the amount of benefits available to you will increase by 8%.

6.    It is also possible to take advantage of spouse benefits by having one spouse retire at the normal age and the other wait a few years longer. This will help to maximize income.

Yahoo Finance

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.

Most seniors have worked their entire lives looking forward to enjoying retirement. However, many Bakersfield, California seniors suffer financial crisis from an unexpected occurrence. When this happens, the key is to not panic. There are some things that can be done. Below is some information that will be useful to seniors who find they are in a financial crisis and do not know where to turn.

1. Always take time to evaluate the situation. Do not panic. Determine what has caused the financial crisis. Knowing the cause must be the first step before any type of action can be taken.
2. Make sure to set priorities in regards to expenses. Make lists that detail where money is being spent. Many seniors do not do this and they end up spending money on things that are not necessary. Make a list of the most important expenses and go from there.
3. If you are in debt, try to negotiate with lenders. Many companies will be willing to lower the amount owed if you simply ask. Be sure to call lenders if you know money is tight. It is best to contact them before getting behind on payments.
4. Try to find some extra money. For many seniors, this usually means selling something or asking a family member. During financial crisis, explain your situation and ask for help.
5. There are many type of financial assistance available, especially for seniors. Take the time to do some research and see what kind of help is available.
6. Plan ahead. Even though we never expect a financial crisis, it is always best to be prepared. Save a little extra when possible. This will help offset expenses in the future if there is a crisis.

Source: http://financialplan.about.com/od/personalfinance/a/FinancialCrisis.htm

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.

It is common for a Bakersfield senior to make mistakes financially, which is why it is important for seniors to share financial information with spouses and financial advisers. While it can be difficult to ask for outside help, Bakersfield seniors will benefit from having someone help them with financial decisions so that mistakes will not be made. Many seniors who suffer from dementia and Alzheimer’s will experience financial problems. The following list provides 8 tips that can help.

1. Make sure someone else has access to online banking records. This is usually a family member of a financial adviser. By doing so, bank activity can be monitored to see if mistakes are being made.

2. Have a current list of all companies that bills are paid to. This includes utilities, mortgages, insurance and loans.

3. Reduce credit limits on credit cards and make sure others have access to credit-card account records.

4. Investment accounts should be made known to family members and spouses. When another person checks these records, they should be able to see how much is in the account and whether that is the right amount.

5. Tax returns should be filed by a professional. If possible, share the return paperwork with a trusted family member.

6. Have a list of all financial relationships. This means any company or individual the senior conducts financial transactions with.

7. Have important documents in place and accessible. Wills, insurance policies, deeds and any other important document should be accessible by family members.

8. A financial checklist will help seniors with Alzheimer’s stay on track. This will help them manage what bills to pay and will also keep them up to date on all account balances.

Money.USNews.com.com

Preventing senior poverty can be possible. If the senior prepared for retirement by investing and saving their money, they will be much more financially stable than those who did not take these actions. However, even the most prepared seniors can experience poverty. Living on a limited income can be a challenge and since the cost of medical care keeps increasing, many seniors will face poverty.

1. More seniors are experiencing poverty because they are living longer. In addition, many 401(k) plans are now being replaced by company pensions. The Social security benefits are diminishing and medical costs are rising. These all contribute to senior poverty.

2. Credit card debt, medical expenses and financial losses can cause a senior to experience financial insecurity.

3. The recession has taken a toll on seniors who are already living on limited income. This has led to reduced incomes, a decline in consumer wealth and increased poverty.

4. One way senior can prevent poverty is to battle credit card debt. This can be a challenge, especially for seniors who do not have the option of taking a long time to pay down debt. However, it is possible to negotiate better terms and seek credit counseling.

Source: Updatefrom.com

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.

Taking Advantage of Seniors

Some people find it very easy to take advantage of seniors. While this is a disgusting thing, it happens every day. Seniors are approached by individuals claiming to offer them a sound financial investment. These people are actually looking for an easy target. Seniors need to be aware of the schemes that are out there and be prepared to deal with them when they enter into retirement.

1.    Seniors who are isolated or have disabilities are often the target of these schemes.

2.    One out of every five retiree over the age of 65 has been a victim of a financial scam. More than 7.3 million seniors have been taken advantage of each year.

3.    Older people are targets because they are more willing to invest in something that is supposed to help them through their retirement years. The elderly are also much more trusting than the younger generation.

4.    Many of the people doing the scamming are retirees as well. This is how they know who to choose for a target. Elderly con artists are more common than most people believe.

5.    Veterans are also a target. There are many groups who offer to help a former soldier. While many of the programs do actually exist, these seniors are being told they must liquidate all of their assets to become eligible for benefits, which is not true at all.

Source: MSNBC

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.

End of Life Decisions

Terminally ill seniors battle their illness each and every day. This can be very exhausting and stressful, leading to many seniors wishing they would not live through their treatment. The right to die is a touchy issue, supported by some and opposed by many. Seniors should inform doctors and loved ones of their wishes, even if they are not supported. The list below provides seniors with some information associated with end of life decisions.

1. 84% of Americans believe seniors should have a choice whether they live or die when they have a terminal illness.

2. 22% of nurses and doctors feel that everything should be done in order to keep the senior alive, despite their wishes.

3. Seniors should put their wishes in writing. This is one way to make sure that doctors are aware of what the senior wants if they are unable to make decisions at any time during treatment.

4. Many Americans believe family members should have a say in the end of life decisions that pertain to a loved one.

5. In most cases, older women are more apt to discuss these wishes with family members. It is important for all seniors to express their desire about what should happen to them during the course of treatment for a terminal illness.

Source: Pew Social Trends

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.

Bakersfield Aging Care enables seniors to live happy, healthy, and independent lives in their own homes.

There are many ways seniors are able to lower their annual tax bill. Many seniors do not know about exemptions and deductions that can be applied to their taxes. Both of these things can drastically reduce taxes each year, providing seniors with a higher tax return. Below is a list of tax tips that can be helpful to seniors who are still filing annual taxes.

1. Make sure to know about any taxes on compensation. If you are still working, your income will be taxed at the normal rate. However, if you itemize your taxes and make use of exemptions and deductions, you will have a lower tax bill.

2. There are many deductions available for seniors. For example, seniors who itemize their taxes can deduct property tax, charitable gifts and medical expenses. These are only a few of the available deductions.

3. An exemption occurs when an individual is not required to pay a tax. If you are preparing your own taxes, you may want to consult a professional to inquire about exemptions.

4. Most seniors are receiving Social Security payments each month. If the senior has an additional form of income, this income will be used to determine if taxed must be paid on any earnings from Social Security. This usually applies to seniors who have higher incomes than normal.

Source: updatefrom.com

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.

Bakersfield Aging Care enables seniors to live happy, healthy, and independent lives in their own homes.

While many people have been diagnosed with a specific type of diabetes, there are still millions that have the disease but do not know about it yet. By taking the time to review the risk factors provided below, seniors will be able to determine if they are at risk of developing diabetes. If any of the risks are present, seniors should discuss things with their doctor to determine if they are in fact at risk.

1. Type 1 diabetes risk factors include family history and genetics. If you have family members who have been diagnosed with Type 1 diabetes, you will be at a higher risk of developing the disease. Disease of the pancreas or injury to the pancreas can have an effect on how the body produces insulin, placing you at a high risk. Rare infections and illnesses that affect the pancreas are also a risk factor.

2. Risk factors for Type 2 diabetes include being over-weight, having an impaired glucose tolerance and having insulin resistance. In addition, your ethnic background could also be a risk factor. Type 2 diabetes occurs more often in Hispanic/Latino Americans, Native Americans, Alaska natives, African-Americans and Asian-Americans. High blood pressure, family history, no exercise and age can all be risk factors.

3. Gestational diabetes affects pregnant women. The risk factors for this type of diabetes include obesity, age, family history and previous glucose intolerance.

4. The best way to reduce risks associated with diabetes is to maintain a healthy weight, exercise daily, have a healthy and balanced diet and manage your blood pressure. These things can reduce the chances of developing all types of diabetes.

Do you have a parent with diabetes? The American Diabetes Association offers these tips on how to help your parent manage their diabetes.

Source: diabetes.webmd.com

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.

Home Care Bakersfield cares for many aging adults, and we can tell you the best way for seniors to stick to their New Year’s resolutions is to set goals that they feel will truly change their lives. For some, exercise and diet goals are ones they can stick to; but that tends to be the exception not the rule. Make sure you set goals that motivate you, because they’re things that you truly want to accomplish.

1. Educate yourself – you’re never too old for learning. Pursue an interest; go back to school and take advantage of the discounts for seniors who want to return to college. Or take a class that teaches you more about another hobby like a craft or physical activity like dance

2. Expand your career – if you’re a senior who’s still in the workforce, make the best of your last few years in a career and do something you really enjoy. Even if you’re not working for an income, volunteer somewhere that fulfills you

3. Take a trip – if you’ve been dreaming of getting away somewhere, make it your goal this year. You can take the opportunity to plan and save. It doesn’t have to be something glamorous; even a journey to visit family that normally comes to you makes for a change of pace

4. Work on organization – sometimes with age, people become more sentimental. You may find that your home is becoming more cluttered. Take the opportunity to get your home organized for a safer and more comfortable environment

5. Develop new relationships – whether it’s romance you have in mind, or just feel you’d benefit from increasing your social circle; get out there and network!

Via: LifeScript

Image Source: sxc.hu

Home Care Bakersfield provides home care for the elderly, aging, and seniors in Bakersfield, Delano, Wasco, Lamont, Tehachapi, Lake Isabella, Ridgecrest, Taft, Shafter, Bodfish, Wofford Heights, Rosedale, Oildale, Kernville area. Call us today at 661-321-3235.