Every new year brings changes, and seniors are always especially interested (or concerned) to learn what will happen with Social Security. We talked in an earlier blog about 2021 cost of living increases (COLA) for those already receiving Social Security retirement benefits, but COLA increases are not the only changes.
What? You don’t have a will? You really need to correct that, for your own peace of mind as well as to protect your estate, your wishes, and your loved ones. Many people shy away from this subject, but making a will is not morbid, it is sensible and practical. It gives you control over what happens to your belongings and assets after you pass away.
Yet, 40% of Americans over the age of 45 do not have a will.
In a year when it has been darn hard to find any good news, the federal government has just announced some good news for seniors: Social Security payments will go up in 2021. Starting with checks mailed December 31, 2020, those who receive Social Security and/or Supplemental Security Income (SSI) benefits will get 1.3% more.
No one wants to think that someday they might have to leave their home and move into assisted living or another type of long-term senior care community. Nonetheless, almost 70% of those over 65 will eventually need some kind of long term care. You may not have to move, though, at least not so soon. Instead, you may be able to age in place.
It’s easy to understand why young adults purchase life insurance. It provides financial support for families if a wage-earner dies young from disease or an accident. Many types of life insurance also serve as broader financial management tools. And life insurance is inexpensive when you’re young. But what if the years have sped by and you still don’t have life insurance, or you think you might need more – is it too late?
Medicare and Medicaid are both government programs that provide certain types of health care coverage for seniors. Although the programs are very different, they are often confused. And Medicaid, especially, is often misunderstood. So let’s clear up some of the confusion, to help you know if Medicaid may be a viable financial resource for you some day.
Whether you’re considering some type of senior living community for yourself or a loved one, you will want the best environment and accommodations you can find. After all, this will be your new home – or the new home of someone very dear to you. However, for most of us, cost plays a role in our decision-making when it comes to momentous matters such as living arrangements.
At Magnolia Manor, we understand because we talk with seniors and their families every day about their challenges and the choices available to them. Naturally, everyone wants to know what various options will cost. And, frankly, their first reaction is sometimes, “Gee, that seems like a lot.” In truth, though, senior living can be surprisingly affordable, once you compare all of the costs and benefits to your current situation.
When you hear the phrase “senior housing,” you get a mental picture of what that might be like. Some conjure up images of the worst nursing home they can imagine and think that’s what senior living is like. But does your impression match up with reality? Many people – including seniors themselves – have never seen a senior living community first hand, so they have only assumptions to go by. All too often, those assumptions are based on myths and misconceptions. The truth about senior housing might surprise you – a lot.
There is no tougher job than serving as someone’s caregiver. And when the person you’re helping is a loved one, your close relationship can make the “job” even more stressful. It’s so hard to see your aging Mom or Dad struggle. And it’s all too easy to feel exhausted, overwhelmed and isolated as you try to help. Yet there are more than 34 million unpaid caregivers in the US responsible for assisting adults 50 or older. Almost 16 million of them care for someone who has Alzheimer’s or another type of dementia.
Catered Living. Just the name sounds inviting, doesn’t it? And it is. You might say it’s a specialty of the house here at Magnolia Manor because we offer this unique twist on Independent Senior Living at two of our campuses, Richmond Hill and St. Simons Island. With Catered Living, you can enjoy all the amenities of Independent Living plus a little more.