Archive for the ‘Finance’ Category

Elderly Employment

Monday, October 18th, 2010

There are many senior citizens who want to work again despite the limitations that society imposes on them. While there are physical limitations to the kind of work that they are able to do, elderly individuals must be permitted to take on jobs that will help them to continue to lead a happy, productive life. With the current state of the economy, jobs for anyone are hard to come by or find, but that is not saying that it’s an impossible task to accomplish. Work for the elderly is more difficult due to limitations and age, however, jobs for the elderly can be found if you know where to look.

For the most part, elderly work should be free from strenuous activities. This includes jobs that require a lot of movement, lifting heavy objects, or stay up until the wee hours of the morning. Physical exhaustion and too much effort would not be conducive to a job for an elderly individual.

What sort of work would then be appropriate for an elderly individual given these conditions? This job should not only be physically mild but also it needs to be meaningful. A job for an elderly individual does not need to be monotonous or absent of emotion to be a good fit for them.

The elderly could work from home and earn money and feel fulfilled without leaving home. There are many job opportunities out there for those who want to work without leaving home. These types of jobs can be based on previous employment such as tutoring, teaching piano, or a craft.

Many elderly want to reach out to others and often either volunteer for charities or non-government organizations. There are many opportunities for elderly social work that is open for employees as well as volunteers. This can be a rewarding experience.

Leading a happy and fulfilled life does not stop at retirement. There are plenty of work opportunities for the elderly that will allow them to earn a bit of money and feel productive as well as feel good about themselves by helping their community. Being happy, productive and fulfilled can lead to a healthier mental well-being.

Many Elderly Below San Francisco’s Poverty Line

Sunday, October 10th, 2010

Richard Ow, an 80 year old gentleman, lives in the North Beach Hotel. He has been a resident there for the past 40 years. He earns less than $24,000 a year from his pension as a former postal worker. He retired 20 years ago. By what the federal government says, this man is not poor; but by San Francisco’s calculations, this elderly Chinatown man is living in poverty.

Mr. Ow considers himself fortunate; some of his friends are earning less than $800 a month from Social Security. The average check in San Francisco is $11, 319 annually which is a mere $500 above the federal poverty line.

Elderly residents are increasing in numbers to line up for the food banks and free meals. And, in the same breath, the federal government doesn’t consider them poor enough to qualify for many of the federal assistance programs.

For example, the federal government considers a single person earning $10, 830 or less a year as living in poverty; however, there are many seniors that earn as much as double that figure and still living in impoverished conditions.

A recent report by the Insight Center for Community Economic Development showed that 61% of San Francisco residents ages 65 and over earn less than $27,282 annually which is the bare minimum that a senior needs to cover necessary costs of living.

To help bridge the gap in costs, seniors will end up skipping meals or cutting pills in half to make them last longer. The economic recession has added to the problems of homelessness among senior citizens. In San Francisco, the number of food stamp, or SNAP, cases have grown by 55% in the past 17 months and the San Francisco Food Bank has seen a 25% increase in their case load over the past 12 months.

Based on an article located here; please visit for more information

How to Become a Power of Attorney

Saturday, October 2nd, 2010

Having to face the fact of your parent getting older is hard; however, financial and health concerns need to be put in order so that, in the event of something unexpected, that you are prepared, legally.

  • Hire a lawyer who specializes in elder law estate planning, Medicare, Medicaid, Social Security and guardianship matters. Have the attorney meet with you and your elderly parent (or the elderly or disabled person you will be taking care of) so that the purpose of power of attorney can be explained and also to inform him or her of their options.
  • Gather the important papers—property records, bank/investment statements, medical records, tax records, marriage/divorce records, birth certificate, social security card, driver’s license, insurance policies, and any other legal paperwork that is still active; be prepared to review all of this information with the attorney.
  • Make decisions as to what must be prepared besides the power of attorney. If there is not a will in place, one should be written while your charge is still able to understand and make decisions.
  • Have the attorney prepare a durable power of attorney. This consists of financial power of attorney as well as a health care power of attorney. This will require your elderly parent’s signature. It must be signed in the presence of two or more witnesses (depending on the state of residence) and a notary public. As the designated representative, you will not have to sign the form.
  • File the executed power of attorney and all accompanying paperwork, with the court clerk’s office, if required. Be aware that some states make it mandatory to do so. Keep a copy of all paperwork filed for your records. You may be required to present this paper whenever you conduct business on your elderly/disabled parent’s behalf.

Power of Attorney

Friday, October 1st, 2010

Caring for an elderly parent can be draining both emotionally and physically. Many times, adults are taking care of their elderly parent or parents while still trying to raise their own children.

As the parent becomes less independent and unable to care for his or her own needs, it becomes clear that you will have to take the needed steps to ensure that legal, personal, medical and financial interests are protected. One way to do this is to get a power of attorney drawn up so that you or someone you trust can act on your elderly parent’s behalf to make decisions that he or she can no longer make independently.

This is not an easy thing for an elderly parent or the child of the elderly parent. So it is very important to involve the parent in the preparations as much as possible. This leaves the parent feeling less helpless or left out of the process. Honor the parents’ wishes when possible; however, do realize that you are entrusted to act in your parent’s best interest even if the parent disagrees with you. It is also not a good idea to rely on those generic self-help legal software programs. For a delicate matter such as this, an experienced attorney to help decide what needs to be done is the better option. There are many factors that come into play with issues such as a power of attorney such as the present and long-term medical condition of the parent as well as their own personal wishes for how affairs are to be handled. Moreover, do not pressure your elderly parent into making life-changing decisions, especially when he or she is tired, hungry, restless or upset. Choose a time to talk and present the information gradually instead of all at one time. Keep everything relaxed and don’t force the issue.

Check back on Saturday, October 2, 2010 to learn the process of obtaining a power of attorney.

Scams on the Elderly

Wednesday, September 22nd, 2010

There are many types of frauds and scams; however, it seems that only a choice few are used against the elderly and most times, these frauds or scams occur within just a few interactions.

One such type of scam/fraud is the offender uses a confidence game. This kind of fraud does not use a product or service; instead a broad range of fraudulent scenarios are committed in order to obtain cash from the elderly. The offender could mask himself or herself as being in a position of authority (such as a bank examiner) or other type of trustworthy person. The offender then concocts a story to get the victim to hand over cash, and then the offender vanishes.

Telemarketing is another way to scam the elderly. Usually victims are called at home; high pressure tactics are used to solicit money for fraudulent charities, insurance policies, travel packages, or sweepstakes. These types of operations are designed to limit the benefit to the customer while maximizing the profit for the telemarketer. It is also designed to reach a large amount of potential customers quickly and efficiently.

Using mail operations is another way of committing fraud against the elderly. This program is designed to reach a wide audience while relying on potential victims to return a postcard or call an indicated number. The mailings look official and usually are very personalized with the victims name repeated numerous times, include authentic-looking claim numbers, and have contradictory content and make what seems like a small monetary request.

Face-to-Face contact is another example of fraud against the elderly. It involves a product or service (home repair for example) and it requires the victim and offender to actually meet either at the victim’s home or a business. For example, a contractor is hired to do a job and requires and up-front payment for services to be performed and materials for the job (such as drywall, nails, etc). The victim gives the offender a check for the amount asked for (and usually it is a much higher amount that would be normal and customary) and the offender is never heard from again. Another example of this would be the scammer gaining entry to the victim’s house by posing as a utility worker and then distract the victim while an accomplice burglarizes the home.

When doing business, it is important to do research and background checks on who you let into your home. Basically, if it sounds too good to be true, it usually is. As an elderly citizen, it a good rule of thumb to have a trust friend or family member look over offers or be at your home with you while a contractor or utility worker is there.

5 Questions If You Suspect Elderly Abuse

Tuesday, September 14th, 2010

If you suspect that an elderly family member is being abused financially, there are five questions you are able to ask (posted by the popular consumer website Consumerist) that may be able to give you a better feel for their situation.


The New Look Of Retirement

Saturday, September 11th, 2010

Family photos

The face of retirement and what it means to ‘be retired’ has changed dramatically in the past few years. At one time, it was about getting affairs in order and relaxing after a lifetime’s worth of working hard.


Avoiding Medicare Fraud

Friday, September 3rd, 2010

Medicare fraud is on the rise, and those looking for ways to scam some quick cash from the elderly seems to be a growing list. With many confused about the ongoing talks from government officials, more people have fallen for these scams than ever before. There are many elderly people out there who are worried about the state of their Medicare coverage, and with that worry may come an increased uncertainty about Medicare. Combined, this is setting up more people to fall for fraud that they wouldn’t otherwise.


When The Golden Years Aren’t Golden

Thursday, July 29th, 2010

In the push to find solutions for those who are facing tougher times in the economy is a growing bid to help senior citizens find employment. There are a growing number of agencies and groups set up to help seniors do just that. (more…)

Dementia Screening May Cut Later Costs

Thursday, July 15th, 2010

Alzheimer’s and the others in the family of dementia is the seventh leading cause of death, it is a worrisome condition to be diagnosed with but studies are showing how important that being screened for them is.