Financial tips for older adults

Financial tips for older adults

Being smart about the choices we make financially is very important. This means that the older adults who form the senior members of society should be educated and equipped with skills that will put them in a position to make better and informed financial choices. Some of the skills that would place an older adult in a better position to make informed financial choices include the following.

  • Carful budgeting

Income tends to reduce significantly from what it was during the time when one is employed. Older adults therefore need to look for ways to limit expenses to make their nest eggs last.

  • Not being too generous

When grown children are struggling with their own financial lives, it can be tempting to open up your bank account to them. The problem with this approach is that it can stress your finances and lead to family tension. That’s why it is very important to make your number one priority protecting your money even while trying to help your children.

  • Plan with your partner

Even if you’ve been married to your spouse for years, it’s possible that you have different visions of how to spend your retirement years. This will help you come together and share ideas on how best to ensure your financial life is secured for an easier future.

  • Being on the same side as your bank.

Some banks cater to older clients more than others, with perks such as using larger print in communication, meeting outside of the bank and speaking clearly without being condescending. Asking about your bank’s age-friendly policies before you need them can help ensure you don’t get frustrated with its policies later.

  • Putting fraud safeguards in place.

Older adults are at a greater risk for financial fraud, but there are ways to reduce that risk. Family members can be alerted to large withdrawals from accounts, debit cards can be programmed to only work in certain locations and names and numbers can be placed on “do not call” lists.

  • Prepare for cognitive decline

When it comes to managing one’s finances, signs of cognitive decline tend to show up when one is between the age of 60 and 70. This makes it harder to manage bills, calculate tips and make change. Sometimes adult children or others can help prevent bigger problems, like falling behind on bills, by noticing those red flags and stepping in to help. Get a medicare supplement from blue cross at

5 Types of Foods Older People Should Have for Curing Insomnia

The more you age, the more your sleep gets affected and you begin to suffer from insomnia. It is true that with proper diet and other natural techniques such as exercises, you can manage this problem and have a positive enough impact on your body to restore sleep. Know about the 5 different kinds of foods that older individuals need to have to get relief from insomnia. Find a 2020 supplement plan here

Green Leafy Vegetables

Green leafy vegetables have plenty of calcium. It is essential that your body gets sufficient calcium, given that research associates sleeplessness with a deficiency in calcium. Thus, it would be good for your sleep to have green leafy veggies, collards, kale, spinach etc in your diet.


You can regulate the sleep cycle of your body by drinking cherry juice or eating cherries. A study conducted by the National Institutes of Health and the U.S. National Library of Medicine shows that the acuteness of sleeplessness in older individuals can be reduced by tart cherry juice. Have grapes, which are rich in melatonin – packed with antioxidants and play a vital role in influencing the sleep-wake patterns. Studies show that Croatina, Cabernet Savignon, Merlot, Nebbolo and Sangiovesse are the grape varieties with the highest amount of melatonin. Tryptophan in bananas aid sleep and can induce relaxation for you.

Chamomile Tea

This beverage is famous for inducing relaxation. This type of tea has been used for many centuries as a natural cure for sleep disorders, as well as many other health issues such as anxiety, digestive problems and more. You can see a very positive impact on your sleep when you have a cup of this beverage. You can also find the beverage in the form of capsules or even directly ingest this herb rather than drinking it.

Dairy Products

Dairy foodstuffs such as milk, cheese, yogurt etc are packed in tryptophan, a type of amino acid that induces sleep. The brain uses it for making neurotransmitters that can bring about sleepiness. This also spurs serotonin and melatonin production in the body. You can have some kind of dairy product during dinner and check how it assists sleep.


Carbohydrates raise the availability of the amino acid called tryptophan in your brain, as per research by the National Sleep Foundation. You can raise the potential of sleeping more when you have a snack such as crackers and cheese having a harmonious balance of carbohydrates and tryptophan before bedtime.

Recommended Board Games for Senior Citizens

  1. Chinese Checkers

Instead of playing traditional checkers, senior citizens might want to consider playing Chinese Checkers. Your aim while playing this game is to move every single piece from your base to the base of your opponent.  The game can be enjoyed by up to 6 individuals at a time, however, you will be able to play it even with 2 players.

  1. Scrabble

As we age, we start losing the ability to recall words, however with Scrabble, it is possible to revitalize long-term memories. You can play this board game at virtually any age, making it an ideal choice for families with different generations. You can use well over 120,000 words in Scrabble, nevertheless, Hasbro offers an updated dictionary after every now and then which contain modern English words.

  1. Pictionary

Pictionary is a unique board game which challenges your recalling skills, memory, hand-eye co-ordination, etc. Players are required to take turns and draw out pictures which their partners need to guess. In case the cards seem too challenging, seniors have the option to write down other objects for every individual to draw. People who do not want to buy Pictionary could even create their unique version using a pen, paper, and a few notepads.

  1. Simon

After it was released in the year 1978 by Milton Bradley, this board game instantly went on to become popular among teachers, therapists & caregivers. The game requires players to tap various colored buttons in an appropriate manner. As you progress further in the game, the order of the colored buttons tends to get longer & more complicated. Simon is, in fact, so popular among medical professionals & caregivers that a number of stores now classify the game as a product for brain training in seniors. Along with playing with your family members or friends, you could also play this board game on your own.

Medigap insurance for seniors: Although Original Medicare consisting of Part A and B does cover plenty of services when it comes to senior healthcare, it doesn’t cover all of them. Medigap or Medicare supplement plans are private insurance coverages that can help you cover these costs. For example, Medicare does not cover costs of co-insurance, co-payments, & deductibles. With Medigap, you are able to easily cover these costs as long as you choose a Medicare-approved healthcare provider. Get insurance quotes for 2020 supplements at

Medicare Cards to Remove Social Security Numbers Part 2

The Centers for Medicare and Medicaid (CMS) officially recommends that you must destroy your old card and start immediately with the new one. However, my personal recommendation is slightly different: bring your new Medicare card with you and use it, but do not destroy the old one. Place your old card in a small clear plastic bag that indicates it is the old card and store it in a safe place. Your old card can be used as insurance in case of unexpected interruptions in the computer systems used by the government and your doctor or hospital while processing your claims. After all, when Obamacare was introduced, that is exactly what happened. Everyone remembers the massive computer problems with the state exchanges when Obamacare was introduced. But few realize that two of Colorado’s largest insurance companies, Kaiser and Anthem, also had serious computer problems the first year they introduced Obamacare.  Both the old and the new card will work theoretically until January 1, 2020. At this point, the government will no longer accept old Medicare cards and can destroy your old Medicare card. Ge a quote for an advantage plan here

Be alert to fraud. Four things you should never do:

CMS warns consumers against fraud related to the introduction of new Medicare cards. The following are 4 things you must not do:

  1. Do not share your Medicare number or other personal information with people who contact you by email, phone, or in person, except you have given your permission in advance. If they say they are from Medicare, do not believe them, because Medicare will never call you to get information unless you have contacted them before.
  2. Never pay anyone to get a Medicare card. The cards are always free. If you lose your card and require a replacement, call Medicare for a free replacement card.
  3. Do not engage in surveys since this is another trick to obtain part of your personal information.
  4. Do not get involved in programs that claim to help you sign up for Medicare plan, from persons you do not know, limited-time offers, early discounts to get a Medicare card, or free medical services.

NOTE: If someone communicates with you with any of the above tricks or you cancel your Medicare medical care if you do not share your personal information, hang up and call Medicare.  Contact the Federal Trade Commission if you suspect that you are a victim of identity theft, or believe you have provided personal information to someone you should not have. Is it even appropriate to issue my Medicare card and other personal information? Medicare or someone who represents Medicare will only call in these situations and request personal information: A Medicare drug or health policy (such as a Medicare Advantage plan) may call you if you are a member of the plan already. The broker or agent who helped you join can also call you. A Customer Service Representative from Medicare can call you if you have called and left a message before, or if a Medicare representative tells you that they will call you.

What Kind of Diet Should Senior Citizens Follow to Manage Arthritis?

Arthritis is a painful condition of the joints and generally affects the body as it ages, and the cartilages go through increased wear and tear. Good diet is essential for improving the overall health of the bones and reduces the pain and stiffness associated with the condition. Find out about the top ingredients that should be there in a diet for senior citizens to manage arthritis. Get a supplement plan at

Green tea

The beverage comprises of antioxidants that help slow down the degeneration of the cartilage. Antioxidants can help reduce joint inflammation that can result in damage. A lot of people consume coffee and sodas due to the additional impact of caffeine. But green tea is a much better choice than coffee or cola when it comes to an option for healthy beverage.

Calcium-Rich foodstuffs

As you age, you need enough calcium to ensure the good health of your bones. It might be necessary to undergo a bone density test to find out what your body needs. In any case, if you are arthritic, it will be better for your health to add foodstuffs packed in calcium such as kale, broccoli and other green vegetables, breakfast cereals, juices fortified with calcium, calcium-fortified tofu, almonds, canned salmon, shrimp etc.

Mineral-rich vegetables and fruits

Minerals are essential to ensure the health of bones. Add vegetables rich in potassium, such as potatoes, broccoli, avocados, mushrooms, lemon, spinach, alfalfa, carrots etc and fruits like oranges, prunes and bananas that are packed with the mineral. Potassium is essential to safeguard the health of bones and can neutralize the bad impact of diets rich in protein. Also have vegetables and fruits rich in boron, zinc and phosphorous that are important for bone health. Foodstuffs like nuts, sole beets, potatoes and spinach are good sources of magnesium, a mineral that can improve bone health.

Animal Protein and Soy

The exact role of soy and animal protein in arthritis prevention happens to be sketchy. A few studies have shown that those suffering from thinner bones lack the intake of enough protein through diet. Soy is packed in calcium and isoflavones, a type of compound that looks similar to estrogen. The health benefits of soy can be associated to the presence of calcium and isoflavones in them. Soy is an essential component for the improvement of the health of bones.  If you are over 60, you can add these foodstuffs to your diet to get relief from arthritis.

Medicare Cards to Remove Social Security Numbers Pt1

Beneficiaries of Medicare have been whining for years about printing their social security numbers on Medicare cards. Finally, their worries have been put to rest when the well-known white, red, and blue Medicare card finally transforms after about half a century.

As of April, the government began the monumental task of sending new Medicare cards to each person with Medicare; i.e. 57.7 million beneficiaries of Medicare. The new cards no longer contain your Social Security number, which has become increasingly worrisome in times of ubiquitous identity theft. Instead, the new Medicare cards contain a combination of randomly generated numbers and letters that become your new unique Medicare number. The new Medicare cards will not only help alleviate the vulnerability of older people through identity theft, but will also reduce fraud and protect the taxpayer from an explosion of medical identity theft, with various frauds such as the abuse system of Medicare.

What changes does the new Medicare card bring? Get an advantage plan for 2019 at

Although the new cards still retain the familiar white, red, and blue color, the new card contains a combination of randomly generated numbers and uppercase letters of 11 characters instead of the 9-digit Social Security number followed by a letter.

  • A person’s gender is no longer displayed.
  • The maps are now bilingual in English and Spanish, which makes them a little harder to read.
  • The signature line is removed

When will the new Medicare card arrive? Current beneficiaries of Medicare started receiving their new Medicare cards in April of this year. The cards are sent by the state. The first wave of mailing will go to the mid-Atlantic states of Maryland, Delaware, Virginia, West Virginia, Pennsylvania, and the District of Columbia. The law requires that all 57.7 million Medicare beneficiaries receive their new Medicare cards by April 2019.

Keep in mind that sending a new card to everyone can take some time. Your neighbor or friend can get a card before you.

What do I have to do to get the new Medicare card? Normally you do not have to do anything. A new card will automatically be sent to you by April 2019. However, if your address has changed, you must inform Social Security about your new address. They will inform Medicare who will send your new card to your right address. If you received emails from Medicare or Social Security at your current address last year, they will have your correct address.

If you want to update your current address or verify if the correct social security address is provided, it is better to go to “My account” via the Social Security website. If you do not have an account yet, simply create an account online. The second way to verify or change your address is by calling Social Security from 7:00 a.m. to 7:00 p.m. Monday through Friday. Waiting times are usually longer on Monday and Tuesday. Therefore, it is best to call from Wednesday to Friday.  Will the new Medicare card alter my Medicare benefits?  No, the new card will not change Medicare benefits.

3 Financial Instruments Retirees Can Put Their Money On

Successful investment takes a lot of patience, time and research, and requires a certain level of skill. Many retirees want to invest to make more money, whether it is for attaining some financial objectives, funding the college education of their kids or to go on a luxury vacation, buy a second property or more. Here are 3 types of financial instruments that retirees can invest their money on.

Exchange Traded Funds

Also referred to as ETFs, these are fund pools that are invested just like mutual funds. However, as Exchange traded funds are only designed for tracking particular indexes and most of the ETF management happens to be computerized, the fees and maintenance expenses are usually significantly lower for the same. These are highly appropriate for retirees who have just started out as an investor, and want to develop a diversified portfolio minus the discomfort of a money manager or an expensive fund and want to trade as easily as in case of stocks.


Futures trading happen to be a marketplace where customers from across the globe sell and purchase futures contracts. A futures contract is basically a type of contract or agreement for getting a product with a specific price at a particular date in future. After the price is set, it remains secure for the following year irrespective of market alterations.  A few futures markets comprise of interest rates, stock indexes, currencies, commodities and several other investment alternatives like economic indicators. There are huge rewards to expect from this type of investment, although there are some risks as well. Thus, it is important to leave futures only to those investors who are most experienced.


Once investors buy bonds, they purchase an interest in a corporation or company. Bonds, which are loans available from an investor, are issued by companies. Companies in turn consent to paying back the investor with interest at specific intervals.  Bonds investment can be quite secure. Unless a firm gets bankrupt, the investor happens to be more or less sure of getting at least the invested sum back. Such interest payments at particular intervals may be a steady income source for couples who have retired or even for other people who want to make a kind of investment that can generate returns consistently. In case of some kinds of bonds, there might be tax exemptions on the interest that is earned on the bonds.