The most crucial problem that comes with old age is the inability of a person to continue working. Many senior citizens face immense trouble making all ends meet. If you do not want to be one of them, here are some amazing ideas for you to utilize your hard-earned money in the best possible ways and thus, live the life of your choice.
Why is financial planning important for the elderly?
All of us dream of old age as the ‘golden period of a man’s life’ where he can retire from his responsibilities, travel to places and spend time playing with grand children. But once you retire, you realize that you have to live your remaining years on a fixed budget and therefore, taking care of all expenses can be a problem at times. Will you get enough pension to cover your dental bills, medical bills, car maintenance and repair bills, mortgages, credit card loans and all other expenses?
As all these factors will try their best to drain every percent of your monthly income, you will end up wondering if there is anything you can do to be in more control of the situation. This is when the government and non-profit programs introduced to offer a helping hand to the elderly comes to your rescue. These programs provide assistance to old and disabled people with limited money to live a standard life.
List of advantageous programs:
Here is a list of some great programs that you and other seniors can take advantage of to bid adieu to monetary maladies:
- The Commodity Supplemental Food Program- Eating a balanced diet is a must for people of all age groups in order to function properly. This particular program offers citizens with low income above the age of 60 with monthly packages of USDA food that is nutritious. Both tribal and state residents can avail these foods.
- org- Once you visit this website, you will come across at least 2,500 programs on food assistance. All you need to do is pay a visit to the website and research about the relevant programs in your locality.
- The Senior Farmer’s Market Nutrition Program- This is one such program that is prevalent in the U.S. It gives grants to the states, tribal lands and territories for distributing coupons to seniors with low income. They can use these coupons and get fruits, fresh herbs, honey, and vegetables at farmer’s markets in the locality.
- The Dental Lifeline Network- This is a friendly network of helpful dentists who have taken the pledge to offer dental care at affordable prices to the elderly and handicapped people. There are more than 15,000 dentists who have joined hands to reach out to the less fortunate ones.
- Free Medical Camps- The government also organize free camps for people with limited money where eminent doctors do their full body check-up free of cost.
Apart from the ones mentioned above, there is a wide range of other programs for senior members of the society in every state.