Each May, Americans join in celebrating Older Americans Month at community events around the country to recognize the countless contributions by older adults and seniors to society and highlight the issues that matter most to our senior citizens.
This year’s theme, “Flip the Script on Aging,” reminds us that strong communities and access to the right resources help older adults and seniors thrive. Being our many Amada Senior Care franchise owners are specialists in Long-Term Care insurance claims management and other home care funding resources, we’re shining a spotlight on financial empowerment for seniors and their families, as this is a critical but often overlooked part of well-being for those on the senior care journey.
Why Senior Financial Empowerment Matters
At Amada Senior Care, we see firsthand how financial stress can impact older adults’ quality of life. Whether it’s managing rising healthcare costs, budgeting on a fixed income, or protecting against scams, seniors face unique financial challenges. Empowering older adults and aging seniors with tools, information, and support allows them to stay independent, reduce anxiety, and focus on what truly matters — enjoying life and maintaining their health as they add to their golden years.
Common Financial Challenges for Seniors
Here are a few key issues older adults and seniors may encounter:
- Limited Income: Many seniors live on Social Security or retirement savings that must stretch further each year. AARP reports that nearly 9 in 10 seniors aged 65 and up collect Social Security and the payments make up at least half the income of 23 million older adults.
- Healthcare Expenses: Unexpected medical bills can throw off even the best budgets and thoughtful retirement plans made by seniors. The National Council on Aging points to $54 billion in unpaid medical bills older adults and seniors are carrying.
- Digital Literacy: As banking and financial management move online, some seniors find themselves left behind or vulnerable. Digital Literacy also applies to medical decision-making, as the National Library of Medicine notes essential competency helps older adults better manage their health.
- Financial Scams: Older adults and seniors are frequently targeted by fraudsters through phone calls, emails, or misleading mail.
Amada Senior Care: Our Role in Supporting Financial Wellness
At Amada Senior Care, we believe financial empowerment is part of whole-person care. Here’s how we help:
- Connecting Senior Clients with Trusted Resources: We educate seniors and their families on funding solutions for in-home care such as Long-Term Care insurance, point them to reliable financial partners, and guide them on special benefits such as those offered by Veterans Affairs to qualified senior veterans.
- Education and Awareness: We share tips on budgeting, scam prevention, and how to spot financial abuse — often during our home visits or complimentary community workshops.
- Care Planning with a Budget in Mind: We help families create realistic care plans that align with their financial situation, avoiding surprises or unnecessary expenses.
- Encouraging Conversations: We support open dialogue between seniors and their loved ones about financial planning, powers of attorney, and long-term care options.
Ways You Can Help Empower a Senior’s Financial Wellness
If you’re a family member or caregiver, you can be a powerful ally in your loved one’s financial health:
- Encourage regular financial check-ins and review bills together.
- Assist with organizing important documents and understanding benefits like a Long-Term Care insurance policy, power-of-attorney form, end-of-life documents known as advance directives or advance healthcare directives, and others.
- Help them stay informed about the latest scams targeting older adults.
- Seek out free financial literacy programs or senior advocacy groups in your community.
Older Americans Month is a Call for Empowered Decision-Making
Older Americans Month is more than a celebration — it’s a call to action. Let’s ensure our seniors not only age with dignity and care, but also with the financial knowledge and confidence to make empowered decisions. Financial empowerment is freedom, and every senior deserves that freedom.
To learn more about how Amada Senior Care supports financial wellness and independence for seniors, please call us at 866-752-1961 or CLICK HERE to find an Amada office near you. Together, we can build a more secure future that allows aging loved ones to maintain their health, preserve their dignity and independence, and thrive on their senior care journey.
