Seniors Site

The problem with life insurances is that you can never be sure that your beneficiaries will receive them after you go. More troubling is the fact that many seniors failed to tell someone about their life insurances thus their beneficiaries not even knowing they can claim money from insurance companinsuries – some seniors don’t even remember their insurances anymore hence money down the drain. This is especially true for Alzheimer’s sufferers.

Doubts were raised after insurance regulators made an alarming discovery that there is a huge percentage of life insurances not being paid properly to beneficiaries. According to the investigation, even if the insurance company knew about the death of the senior, they didn’t take the initiative to contact the beneficiaries and call action for claim. It is almost always the beneficiary going to the insurance company armed with supporting documents to claim what’s due to them. FYI, unclaimed insurances are supposed to be forwarded to the state as required by law.

To make sure your loved ones get what they deserve, here are the things you and beneficiaries can do:

* Make a written statement of all your life insurances and other assets and have it notarized or ask your family attorney to keep a copy of it. For this, you will need a trusted witness. It is only understandable for seniors to be hesitant in making their fortunes known unfortunately this is the only way to make sure your beneficiaries will get their money otherwise you are leaving them in the dark.
* Be as specific as possible. Don’t make vague statements like “my one and only child” or my “favorite niece” or whatever. State your beneficiary’s name and if possible his or her social security number. This way, the insurance company will know who you’re referring to exactly.
* Update your records on a regular basis. Take note of your personal details like address, contact number, etc, any chances on these you should report or update with your insurance company. If you are having a hard time remembering updates, then do it within the week of your birthday, every single year.
* Sit down and count your benefits. Start from the very recent and go all the way back when you first started working. That may be a whole lot of work and if luck is not heading your way, some of the companies that owe you may no longer be around but hey, it’s worth a try.
* For beneficiaries who worry that their inheritance must be sitting someplace unknown to them waiting to be claimed or worst, suspect that it has already been turned over to the state, check with your state first. Best to start with NAIC or National Association of Insurance System then check with unclaimed property division.

I’m a bit bothered about all these national and local cuts on senior care funds happening nowadays, some of them are cleverly disguised as changes which promise better senior care etc. I won’t be bothered too much if I am not seeing a rise on the senior population which means there is enough reason for our government to apply changes just to balance things out. Seems to me that people in our government think they have been spending too much for senior care and they have to do some damage control if they don’t want to be rocking their budget boat.
Which to me, unfortunately, does have a point. In our fight against death, we unknowingly opened up a new can of worms. Statistics say that the fastest growing age group nowadays is 85 and beyond. Meaning, too many people are now reaching this age and worst, most have no means to support their ever-raising medical cost which their boomer daughters and sons are most likely to shoulder.
I am not saying that it is better to commit suicide than reach this golden age, only that expect a lot of financial hurdles on your way and as much as possible, prepare for it so that you won’t have to bother your kids sometime in the near future.
Growing old is good. There is so much in life you have yet to discover. Don’t let financial worries bother you and your family. Here are some of the things you can do to prepare yourself for a battle against financial hurdles:

· Senior-proof your home while you still can. Let’s face it, living in a nursing home can drain your savings faster than a newly repaired drain pipe. Not only that, nursing homes are laden with horror stories that the mere act of finding the right one for you is almost scary and downright doubtful. By senior-proofing your home, you can age comfortably at home and just move into a nursing home when it is absolutely necessary.

· Find a family that will take you in. this may not be the ideal solution to your problem but this absolutely remedies your financial problem, and it may even help your host family in the long run as local government nowadays has incentives for families with seniors living with them.

· Find a reasonably priced senior community. This is the trend nowadays. There is a boom in building communities for seniors; in Florida alone, there are recently built communities advertised over the internet and around shopping malls and surprisingly, seniors from neighboring communities are flying in to move and fill these communities.

· Inquire about latest insurance coverages for seniors. Because of these changes, insurance companies are now designing insurance coverages which include other incentives for seniors. It may not benefit you now but who knows?

Today I am going to share my experiences about blogging and how seniors can make a little money out of it. Because of my virtual assisting stint, I’m able to work with fabulous people who do this on a regular basis – I mean, do these things for a living which in my eyes made them a pro. However, I found out that there is indeed more to it than just blogging and adding ads. You can actually make money out of it in so many ways that it is impossible to count them off your fingers! Let me share to you these examples:
CLIENT 1: CONTENT IS KING. This client made me write articles and blog posts 6 times a week, despite bad grammar just as long as it is understandable and keyword enriched. The idea is to populate the blog with content that is related to his niche. For my fellow seniors who aren’t too techie yet, “niche” is your blog’s overall topic. This is what keeps you in line and not blindingly shooting whatever happens to be in front of you.
TIP 1: Find a niche that is neither too broad nor too slim/narrow. Make sure you go for something you can write for a long time without having to repeat yourself after 2-3 months.
CLIENT 2: SOCIAL NETWORKING IS THE KEY. This client happens to be a social media coach so she’s very particular with her “tone” when talking to her community. She doesn’t want me anywhere near her blogs so she propped me on her social media sites, adding friends and posting news and quotes which won’t require me to do a couple of words inserted on every post. Of course, my posts should all be related to her niche and they should, every now and then, promote her websites and blogs.
TIP 2: Engage with your community. Expect people to ask questions and they expect you to answer in return. This is good since you are getting feedbacks which will help you grow as a better blogger.
CLIENT 3: THE AFFILIATE MARKETER. This is where the money-making part starts. After polishing your blog nice and shiny, you can now apply for affiliate programs. When approved, you’ll be able to post ads on your website/blog such that when someone clicks on it and buys something, you’ll be rewarded with a commission. Commissions can go as low as 4% to as high as 7% depending on your program. Some of the most popular ones are: Google Adsense, Amazon and Clickbank.
TIP 3: You might want to wait, say 6 months, before applying into anything as affiliate programs are quite strict in approving applications.
CLIENT 4: PHYSICAL PRODUCTS. Indeed you can use your blogs to promote whatever product you are now selling – physical products, I mean. While marketing campaigns are not as concentrated on blogs as you would when affiliated, your blogs can serve as an additional marketing tool and establishing online presence. You can even install third party applications on your blog for your customers to be able to buy your product online.
TIP 4: Going online with your product is a good decision since localised products on web are really a hit these days.

If you plan to do all these things, be prepared to spend a lot of time in front of the computer however, if you do have the time to do so, I assure you it’s rewarding and worthwhile. Retired seniors who are getting a little bored and anxious at home can start incorporating these things, have fun and make money all at the same time!

Let’s face it, saving is tough especially for seniors with medical needs. At some point, you’ll have to sacrifice something you love buying just to make ends meet – okay, that maybe an exaggeration but sometimes, it feels exactly like that. While I am not a big spender and rarely do I find myself splurging, I love pampering myself every now and then. However, when thinking of my next round of meds to buy, I feel somewhat guilty in treating myself and was reduced to every other month instead of monthly trips to my favorite spa. It may not be the biggest sacrifice humans have read but hey, it is sacrifice still. Below are some more ways to save:

1. Learn how to differentiate wants and needs. Before you buy anything, take a little time to think if this something you really need or if this is just something you would want to have.
2. Pay in cash. Or pay only with your credit card if you already have the cash to pay for it come due date. No ifs, no buts. This way you stay afloat and not acquire unnecessary debt.
3. Invest in something that has worth. If you don’t know how to do that, then just remember this, something that has worth grows overtime. For example, if you like a property and it will surely double in worth in 10-20 years then go on and buy it.
4. Avoid impulse buying. It is a traitor, and it robs you blind. You’re most probably going to end up paying more than you intended to if you give in to impulse buying. Just think auctions.
5. It is okay to buy secondhand/pre-owned things as long as it still has worth. Okay, there is a difference between wise buy and foolish buy and that usually applies when buying old things. It’s okay to buy a secondhand car with little wear and tear on seats but it is not okay to buy a sofa with little wear and tear on seats. I hope you get my point.
6. Think twice when buying. Aside from deciding if this is a want or a need, you also have to determine if this is something that can be used for a long time.
7. Ignore the green-eyed monster. You don’t have to keep up with the things your friends have, they will still love you even if you show up in your birthday suit next card night.
8. Buy in bulk whenever possible. Of course, you still have to practice good judgment on this one. Set your mind to buy in months depending on their expiration date, that is, one month’s worth of bathroom tissue, soap, laundry soap etc.
9. Minimize waste. Think of it as money thrown away. Everytime you throw something or consider it as a waste, you are also throwing away your hard-earned money.
10. Try doing things by yourself or if you have to hire someone for it, make sure they are really really good. Getting help is unavoidable in a senior’s life but there are things that we can still do on our own.

No matter what age you are in right now, your credit score is important however, maintaining it on a good credit standing is more important than anything else. Unfortunately, in America, this is easier said than done.

Almost every adult living in America has at least one credit card in their wallet, waiting to be swiped. That, my fellow senior, is a temptation refusing to be ignored. Guts will tell you that if you recognize the problem, you just have to eliminate it, but in this case, your credit card is simply not something you could eliminate as it is a part of an American lifestyle. I even found an article about credit scores encouraging seniors to maintain a credit card since this is the easiest way to create and improve your credit score. While it makes sense, I am still hesitant in bringing my credit card to the mall whenever I need to make a quick shopping dash for fear of running out of cash and eventually using my credit card to pay the bills.

If somehow you find yourself denied of a loan just because – surprise! – your credit score is way too low, here are the things you need to do to improve your credit score:

• Monitor your credit reports on a regular basis. By “regular” I mean at least once a year just to see if there are discrepancies and mistakes on your record. This will allow you decent enough time to notify responsible companies and have them correct the mistake. I am talking about late dues you have paid but was not updated by the loan company. This will also remind you of loans you accidentally forgot – if there is such a thing.
• Examine your credit card terms. Normally, the credit card you have been maintaining the longest is the one that is most beautiful in your credit score’s eyes. Try maintaining just one or two of these babies and terminate all others especially those that are very recent unless it has the lowest interest rate, of course. Two things to remember, age and interest rate.
• Avoid late payments. This is the easiest way to lose points on your credit score, late payments. If you are paying, then pay early, never on the last minute. To avoid late payments, write due dates on a calendar and pay dues a week earlier than the due date.
• Pay in cash. It is easier to monitor your spending habits if you pay in cash since it won’t give you false assurances that you still have money to spend. Moreover, try to invest some of your money so it will somehow grow and eventually be able to help you with paying your debts.

Once in a while, I fall into this impulse buying trap. This is usually when I chance upon a big sale at some popular chain or brand. You see, I consider myself “mostly practical” spender which basically means I don’t just buy things without giving it much thought and I am proud to say that I was able to help a couple of impulse buying friends reassess their spending habits but that doesn’t mean I don’t have my own loophole to contend with. Once in a while, I find myself buying something that I don’t really need but I really, really want.

Impulse buying seldom yields desirable results. Usually it brings about bad feelings such as regret and guilt and of course, impulse buying is rarely cheap. It is not even impossible for a moment of impulse buying to drive you to bankruptcy. With that said, we all agree that impulse buying is something that you must avoid at all cost and for seniors to be empowered, we must consider doing these steps:

* Make a shopping list and really stick to it! When you make a list, you’re given time to think about the things you are going to write down – assess if you really need to be paying for them. Upon bringing your shopping list to the store, you now have a firmer grasp on what comes into your shopping basket as well as your budget for the whole trip. When the urge to buy impulsively hits, you just have to take one look at your list and you are back to proper shopping perspective.
* Allow it some time. “Love at first sight” usually strikes unexpectedly, so does impulse buying. Allowing it a little more time, let say, a week will help you decide if you really want it or it was just a “puppy love”.
* Buy something, sell something. Keep things at minimum by keeping only the things that you need. If you have to replace your old sofa for a brandnew one, then sell or donate the old one. This way, you’ll be able to really enjoy your new sofa without feeling all guilty about it.
* Be a smart buyer. It’s not bad to buy impulsively sometimes especially if it’s a one-day sale and there’s no way you could allow time to think but at the very least, using your head while buying will help you stay on top of the game and not be fooled into buying things you don’t really need.
* Avoid using credit cards. If you feel – yes, don’t ignore that nagging feeling – that you are about to buy on impulse, then might as well pay in cash. Cash is harder to let go and will bind you to only buy what you have onhand whereas if you buy with your credit card, you are more or less, without limit.
* Be specific when shopping online. I don’t know about you but the things I see online are much prettier than seeing it physically on a department store. Hence, it becomes easier to convince yourself on buying “eye-candy” things that you don’t really need. When shopping online, it is best to look specifically for the things you intended to buy and avoid browsing through marketplaces.

While marriage is a beautiful thing to have especially when you’re nearing your twilight, most seniors opt not to get married at all, not by personal choice but by considering the complications it may bring to their documentations and assets. As silly as it may sound, some seniors- and their daughters and sons, I presume- deem it beneficial to forego marriage and just live together to protect your assets. Of course, this can get a little offensive for the other half with lesser asset but like they say, love still prevails with or without hurt.

Understand that nowadays it is important to protect your individual and combined assets. Not getting married simply means simplifying things and it is almost always not personal. In some cases, it is beneficial for both parties especially if both have gone through divorce and their “beneficiary list” is long enough to confuse an insurance company. However, take note that “living together” has its own traps that may complicate things when you go away.

At some point, there will be “money talk”. Even for the simplest of things such as paying bills and opening joint accounts. It is best if you get it out of the way even before you move into the other person’s house. Good thing to remember is that in any partnership, there should be “house rules” for both parties. These are your limits and your rights, if possible, put it on paper. If writing it down right away isn’t possible, then grab a trusty video camera, hold today’s newspaper with dates showing and blab your “agreement” away. If you can do this together then that would be great.

Another tricky part of cohabitation is signing loans. It doesn’t take a married couple to co-sign a loan. Like in any other partnership, all you have to do is take yourselves to the company offering loan, armed with your proper documents and you’re on. This is not only applicable to huge loans by the way, getting your partner a supplementary credit card or an extension to any of your accounts is considered as co-signing or being held liable for the other person’s debts. Even if you have clearly indicated in any legal document that you are not to be held responsible for your partner’s debts, when you co-sign with her on loans, that will automatically make you indebted to the loan company thus affecting your credit standing.

Remember that one of the ideas why couples opt not to get married and just live under one roof is that it will be easier and less messy to end the relationship if it will not work out. With that said, you should also bear that in mind when it comes to financial planning and anything that involves your money.

“Golden years” is simply passé. When you think of retirement and golden years, you are most likely to imagine kid-free house, no mortgage, trips to remote and unheard-of islands, holidays with grown-up kids and spoiled-rotten grandkids, growing old together with your partner, simple yet comfortable living and of course, no job or money pressures instead, you may now be looking at unknown years of caring for your grandkids, delayed retirement, credit card debts and mortgages – not really a sight to look forward to, ain’t it?

Unfortunately, it is quite impossible now to go back and change your life – what’s done is done, no use in dwelling about it. Furthermore, you don’t have to stress yourself too much by thinking of those could-have-beens and what-might-haves, you just have to move on.

Protecting your retirement dreams should be your priority now. Or salvaging what was left of it and making the most out of it. Here are few tips on how to still be on top even if your current situation does not suggest it:

* Seek help from a professional. Hiring a financial adviser must be your wisest decision right now. Getting a professional perspective on your current situation will help you understand it better thus arriving into a more doable solution. Bear in mind that your financial woes can never be remedied overnight. It takes time and a little bit of work.
* Examine your documents. It might be a good idea to do a thorough go-over on your legal documents. This should include your insurances, pension plans, etc. knowing where you gain and where you lose provides a good starting point in replanning your retirement.

* Clear up your debts. It is very much advisable that you enter your retirement debt-free as you won’t be needing that kind of pressure now. As much as possible, work on paying your debts before you go unemployed and build a plan on how you could still pay them if you won’t be able to make it to deadline.

* Budget your money. Nothing beats budgeting your money and learning how to stick with it. By having a weekly or monthly allowances and setting aside some for emergency situations, you won’t worry about having to go penniless later in your life.

* Consider your options. If you, by now, are really convinced that your financial situation won’t get any better, perhaps you should start thinking of ways to supplement your nest egg. Reverse mortgage, for one, has many flaws but nobody can’t deny how it was able to help many seniors during the strongest phase of the financial crisis.

You would be amazed how seniors are now getting into online selling. Just consider the number of successful online stores out there that are operated and managed by seniors, particularly those who have just retired and enjoying the perks of retirement.

It is a no-brainer actually, online selling indeed fits seniors to a tee. Why not? Online selling allow seniors to be able to control their working hours, work from home, and most especially earn some while doing so.

However, some senior online sellers think that the only way to sell online is through a fully functional ecommerce website. This thought alone may discourage a senior from getting into the bandwagon considering the technical skills needed to run an ecommerce website not to mention the amount of money it needs in order to be up and running. Senior sellers need not be afraid as there are many ways other than an ecommerce website to sell your stuff – some don’t even cost a dime to start!

* Auction sites. Surely you have heard of one, perhaps even participated in one. If not, then think “Ebay” and you’re on the right track. There are still many out there and most of them don’t require registration fee to join. If you are just testing the waters then opt to go for a simple text ad which usually won’t cost you anything other than basic fees, if applies.
* Online marketplaces. If Ebay is synonymous to online auction site, then Amazon gets this one. Again, there are many out there however, Amazon is the most recommended especially for newbies since they have millions of members – who are potentially buyers – and they provide awesome support to new sellers.
* Targeted marketplaces. I firmly believe that the pioneer for targeted marketplaces is Etsy. For those of you who are not familiar with the website, Etsy is a place for artists to buy and sell their products. Etsy supports handmade products like jewelries, clothing and keepsakes.
* Online classified ads. To date, the most popular is Craiglist. Walmart has their own classified ads too and I believe they offer this service for free. Online classified ads are like traditional newspaper-classified ads only they can be found online and much easier to scan.
* Social Networking Sites. Most social networking sites do not encourage businesses from using their sites to sell their stuff but let’s face it, it is the easiest way to get attention and they have the best and widest audiences. You just have to find a way to get attention while following the site’s rules and regulations regarding selling stuff.

When we were younger, we look forward to retiring. We work long hours just to be able to make ends meet and at the same time, save a little something for retirement. Retirement, for many American adults, is considered as the next phase, when there is nothing anymore to worry about, a time to travel and just do whatever you want, whenever you want. You are not expected to be working anymore. No pressure. No obligations. Unfortunately, that is not always the case.

There are people who were born to work. They enjoy making money. It makes them feel alive. Trust me, they are not doing it just because they are greedy but it gives them a kind of fulfillment only an accomplishment could give—something that is important when you reach a certain age. Hence, the senior entrepreneurs.

Indeed, the word “retirement” has adapted a whole new meaning. More and more seniors are getting on the bandwagon either delaying retirement or starting new businesses. I say seniors today are getting restless and way more active than 20 years back. Funny if you notice how younger people are going into early retirement nowadays while seniors became more interested in working and building businesses. Now you know that the playing field has gone fair.

If you ask seniors why they ain’t quitting, you’ll probably end up with several different answers. That is because seniors are working for several different reasons. Some work to supplement their nest egg which was affected by the economic crisis while others believe that working gives them something to focus on, like their life’s direction. Funny how some seniors felt lost after retiring from work and needed something to occupy their time – funny but indeed true.

According to many retired seniors, retirement’s number one enemy is boredom. After years and years of working, it is just a huge leap from a working day to a “retired” day especially now that seniors are as active as ever and everything seems so convenient to do. Putting up an ecommerce site, for example, doesn’t even have to cost you a week’s allowance let alone a couple of hours working on your computer per day – at home. Even seniors with limited range of motion can do that!

Healthwise, staying on business proves to be healthy. Studies show that a senior who is engaged and actively running a successful business tend to live longer and happier lives. Aside from that, senior entrepreneurs are not at risk of being discriminated as opposed to applying for a job or trying a second career.