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Senior Living Trends in 2018 and Beyond

Markets driven by the consumerism of the baby boom generation are changing senior living, and there are more options available than ever before. Medical and technological advancements and a shift to a more customized, individual lifestyle preference are leading the way for seniors to age more securely and comfortably. Senior communities are looking less like institutions and more like homes. Infusing technology with medical support in assisting seniors is a giant step forward in reshaping the way people provide care and when necessary intervention. As life expectancy for seniors continues to increase they are putting off retirement, some out of financial necessity but others out of a desire

Baby Boomers Are Creating a Massive Health-Care Budget Crisis. Here's Why.

A Gallup poll recently found that 74% of US adults plan to work in some form or another past the age of 65. Some will work out of necessity to earn more money because of increased longevity, health care costs, and reduced Social Security payouts, while others will leave their career and strike out in a different direction often pursuing a lifelong dream or spending time and energy in volunteer work and/or philanthropy causes. Whatever the senior individual’s pursuit, it is clear that new patterns have emerged in the past 10 years and it will have a huge effect on individual US states. Baby boomers want to "age in place" and are committed to staying vital, fit, and independent for as long as

How to Prepare Your Loved One for a Long-Term Care Crisis

When you or a loved one cannot care for themselves for a long period of time, it is usually necessary to seek out long-term care (LTC). Formal facilities that provide such care are known by several names, including residential continuing care facilities, nursing homes, and personal care facilities. Informal long-term care is often provided, in its earlier stages, by a family member who is willing to provide their loved one with personal care, meals, laundry services, housekeeping, and transportation. These informal care providers are often referred to as the “sandwich generation” because they support their own children while at the same time care for aging parents. The stress of providing pr

Detecting Elderly Financial Abuse - More Help is On the Way

I recently wrote about how elder financial abuse can have all kinds of additional, unintended costs. This week, I was pleased to learn that Congress has passed a law that will help to make it easier for financial abuse to get reported. The new law provides incentives for banks and other financial institutions to train their employees on how to spot this problem, and to report them. The law was apparently inspired by the Senior$afe program in Maine. Senior$afe encourages state regulators, financial institutions, and legal organizations to work together on educating banking and credit union workers to spot and stop elder financial abuse. When elders have a trusted third party to talk to about

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© 2017 Matthew Ritchie