Daily Money Management for Families of Seniors
Senior living can be complicated and many times, due to health issues or memory problems, other family members have to step in to help their elderly loved ones manage various aspects of their lives. According to a 1991 study by the National Center for Health Statistics, approximately 5-10% of older Americans need assistance with money management. Another study suggests this number is as high as 29%. Help Unlimited is here to make that easier on seniors’ families. If you are now in charge of your older loved one’s finances, Help Unlimited can assist you with managing their short and long-term expenses and making essential financial decisions. Taking on your elderly parents’ expenses as well as managing your own finances can be a lot of work, let us take some of that burden off your shoulders.
The US National Library of Medicine National Institutes of Health was quoted as saying, “In the U.S., over 46 million Americans are age 65 or older, a number that is increasing rapidly. This population is projected to nearly double by 2050, making them the fastest growing group in the U.S., dominated by the Baby Boomers (born from 1946 to 1964), are reaching retirement eligibility. Thus efforts to help older adults age successfully with optimal financial outcomes and financial stability, and tools and services to make decisions independently have become a priority. Financial literacy becomes increasingly important with age, impacting older adults and their quality of life.”
How We Help Families Manage Their Expenses
Not only will we give our best efforts towards protecting your elderly loved one against exploitation, fraud and unwarranted influence over their money, we will also make sure their financial documents are in order. We know that as we age there are often more medical bills, insurance claims and more stressful decisions that have to be made.
Elder individuals are also prime targets of Financial exploitation. According to the Security and Exchange Commission (SEC), “There are three interrelated sets of factors that are work as it pertains to elder financial exploitation: health-related effects of aging: financial and retirement trends; and demographic trends. Cognitive decline is a key factor, whether brought on by disease or other changes in the aging brain even without the presence of disease. When cognitive decline begins, financial impairment is often one of the earliest signs for patients, families, and doctors. Physical decline and dependence are also risk factors for elder financial exploitation.”
This means that more than ever, the elderly need expert personal daily money managers that they can trust to both handle the day-to-day financial administration needs, as well as trustworthy financial protection from financial predators. This is where Help Unlimited comes in!
Let Help Unlimited do the hard work and balance your loved one’s checkbook as well as sorting and paying their bills. Our practice works with you, your CPA and your attorney to help manage your loved one’s money so you can focus on taking your kids to the soccer game or spending more time with your aging loved ones.
Besides taking care of your elderly family members, you’ve got a lot on your plate already. At Help Unlimited we take the time to match our service representatives with each of our customers based on their skill set, personality and geography because we want to make sure we are offering our clients the best service possible. We pride ourself on our attention to detail and careful scrutiny of client funds with the goal to ease your worries and keep things in order for your family.
Contact Help Unlimited for Family Money Management
If you’re feeling overwhelmed taking care of both your family and aging parents, contact our team of money managers today. We can help organize financial and medical documents, work directly with Social Security and Medicare, and provide referrals to other senior service providers we trust with our own loved ones. With our professional team on your side, you can rest easy knowing that your loved one’s fund’s are all in order and taken care of.