Your elderly mother has never been good with money, and ever since dad passed away last year the situation has only gotten worse. Mom’s been victimized by financial scammers a couple of times and some of her bills aren’t getting paid on time. What should you do? One of the fastest ways to get an aging parent to tune you out is by bringing up their financial matters. Thankfully, there are several ways to earn your parent’s trust so that you can assist a senior parent with financial matters.
Financial Challenges that Seniors Face
According to a 2018 Kaiser Family Foundation study, nearly half of all Americans aged 65-and-over have annual incomes that fall below the poverty level.
In addition to limited income, other financial challenges that seniors face include: